ArcBest (NASDAQ:ARCB) Upgraded to "Strong-Buy" at Stephens

Key Points

• Stephens upgraded ArcBest to “strong-buy,” adding to a wave of bullish analyst action. Other firms, including Goldman Sachs, Citigroup, and Zacks Research, also raised ratings or price targets recently.
• ArcBest shares were trading up 0.5% at $145.87, near the stock’s 52-week high of $176.69. The company’s market cap is about $3.25 billion, with a consensus analyst target price of $149.83.
• Recent quarterly results beat EPS estimates, with ArcBest reporting $0.32 per share versus the expected $0.27. Revenue came in essentially in line with forecasts and rose 3.3% year over year.

ArcBest (NASDAQ:ARCB - Get Free Report) was upgraded by Stephens to a "strong-buy" rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other research analysts also recently issued reports on the company. The Goldman Sachs Group boosted their price target on ArcBest from $117.00 to $165.00 and gave the company a "buy" rating in a report on Tuesday, June 23rd. Wall Street Zen raised shares of ArcBest from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. UBS Group boosted their target price on shares of ArcBest from $122.00 to $145.00 and gave the company a "neutral" rating in a research note on Tuesday. Zacks Research raised shares of ArcBest from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Finally, Citigroup raised their price target on shares of ArcBest from $150.00 to $202.00 and gave the company a "buy" rating in a research report on Monday, June 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $149.83.

ArcBest Trading Up 0.5%

NASDAQ:ARCB opened at $145.87 on Wednesday. The company has a market capitalization of $3.25 billion, a P/E ratio of 60.03, a PEG ratio of 0.63 and a beta of 1.57. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.10. ArcBest has a 12 month low of $59.43 and a 12 month high of $176.69. The firm has a fifty day simple moving average of $138.61 and a 200-day simple moving average of $111.19.

ArcBest (NASDAQ:ARCB - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. The firm had revenue of $998.79 million during the quarter, compared to analysts' expectations of $999.07 million. ArcBest had a return on equity of 6.15% and a net margin of 1.38%.The company's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the business posted $0.51 earnings per share. On average, equities research analysts anticipate that ArcBest will post 6.11 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ARCB. Federated Hermes Inc. boosted its stake in ArcBest by 126.6% during the 4th quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company's stock worth $75,000 after purchasing an additional 567 shares during the last quarter. Hantz Financial Services Inc. raised its position in shares of ArcBest by 507.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company's stock valued at $83,000 after buying an additional 934 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of ArcBest in the second quarter worth about $85,000. Assetmark Inc. boosted its position in ArcBest by 5,940.0% during the fourth quarter. Assetmark Inc. now owns 1,208 shares of the transportation company's stock worth $90,000 after acquiring an additional 1,188 shares during the last quarter. Finally, KBC Group NV grew its stake in ArcBest by 69.4% during the 4th quarter. KBC Group NV now owns 1,299 shares of the transportation company's stock valued at $96,000 after acquiring an additional 532 shares in the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

About ArcBest

ArcBest Corporation NASDAQ: ARCB is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company's asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.

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