#3 - ArcBest (NASDAQ:ARCB)
Keeping with the theme of delivering creative solutions to the supply chain crisis brings us to ArcBest (NASDAQ:ARCB). ArcBest is one of the leading logistics companies that operates in three segments: Asset-Based, ArcBest, and FleetNet. The company recently announced plans to acquire the Chicago-based MoLo Solutions, LLD. With this acquisition, ArcBest will have access to over 70,000 carrier partners and will be in the top 15 of U.S. truckload brokers.
On October 20, ArcBest announced that it was chosen as a 2022 FreightWaves FreightTech 100 company. This annual award recognizes the most innovative and disruptive freight companies.
Unlike the first two stocks on this list, ARCB stock is trading below the consensus price target of analysts. In addition, the stock has been upgraded by five analysts in the last month. This kind of attention prior to earnings is a bullish indicator. The company reports earnings in early November and has beaten earnings estimates for the last eight quarters.
ArcBest is number 60 on the MarketBeat list of 100 Transportation Stocks
About ArcBest
ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.
Read More - Current Price
- $127.89
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 9 Buy Ratings, 3 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $151.54 (18.5% Upside)
