ArcBest Corporation (NASDAQ:ARCB) Stock Has Consensus Target Price of $153.15 According to Analysts

by · The Markets Daily

ArcBest Corporation (NASDAQ:ARCB – Get Free Report) has been given an average rating of “Moderate Buy” by the fifteen research firms that are covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $153.54.

Several analysts have recently commented on ARCB shares. Citigroup raised their target price on ArcBest from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday. The Goldman Sachs Group reissued a “buy” rating and set a $172.00 price target on shares of ArcBest in a research report on Wednesday, July 29th. Zacks Research lowered ArcBest from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. UBS Group reduced their price objective on ArcBest from $154.00 to $146.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Wall Street Zen upgraded ArcBest from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 31st.

Check Out Our Latest Report on ArcBest

More ArcBest News

Here are the key news stories impacting ArcBest this week:

  • Positive Sentiment: Citigroup raised its price target to $175 from $170 and maintained a buy rating, implying substantial upside from the cited share price. ArcBest Given New Price Target at Citigroup
  • Positive Sentiment: JPMorgan lifted its target to $164 from $158, while keeping a neutral rating. JPMorgan recommendations
  • Positive Sentiment: ArcBest beat third-quarter earnings and revenue expectations: EPS was $2.62 versus $2.50 expected, and revenue rose 15.5% year over year to $1.21 billion. Reports cited higher shipment weights, tonnage gains, and operational improvements following a July reorganization as contributors. Higher shipment weights help ArcBest beat Q3 expectations
  • Neutral Sentiment: Management described emerging “green shoots” in demand, but shipment volumes remain soft, leaving the durability and timing of a recovery uncertain. ArcBest’s Runser says demand green shoots are emerging
  • Negative Sentiment: UBS cut its price target to $146 from $154 and retained a neutral rating, a less optimistic signal than the target increases from other analysts. UBS lowers ArcBest price target
  • Negative Sentiment: ArcBest’s outlook included a sequential increase of 50–150 basis points in ABF’s fourth-quarter operating ratio and projected $7–$10 million in Asset-Light operating income, which could weigh on near-term margin expectations. ArcBest signals fourth-quarter operating outlook
  • Negative Sentiment: One recent analysis argued the shares look overvalued after a substantial run-up, potentially limiting investor appetite despite the earnings beat. ArcBest stock looks overvalued after its run

Insider Buying and Selling at ArcBest

In other news, VP Jason Parks sold 855 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $135.09, for a total value of $115,501.95. Following the completion of the sale, the vice president directly owned 3,794 shares of the company’s stock, valued at $512,531.46. This represents a 18.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.98% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARCB. Aberdeen Group plc raised its holdings in ArcBest by 20.9% during the third quarter. Aberdeen Group plc now owns 127,234 shares of the transportation company’s stock valued at $16,215,000 after buying an additional 21,953 shares in the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of ArcBest by 54.7% during the 3rd quarter. Maryland State Retirement & Pension System now owns 5,013 shares of the transportation company’s stock worth $639,000 after acquiring an additional 1,773 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of ArcBest by 9.3% during the 3rd quarter. Ritholtz Wealth Management now owns 6,291 shares of the transportation company’s stock worth $802,000 after acquiring an additional 533 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of ArcBest by 18.8% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 11,617 shares of the transportation company’s stock valued at $1,480,000 after acquiring an additional 1,835 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of ArcBest by 39.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 28,916 shares of the transportation company’s stock valued at $3,748,000 after acquiring an additional 8,244 shares during the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

ArcBest Stock Down 4.3%

Shares of NASDAQ:ARCB opened at $127.91 on Friday. The firm has a 50 day simple moving average of $131.19 and a 200 day simple moving average of $125.35. ArcBest has a 52 week low of $59.43 and a 52 week high of $176.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.97 and a current ratio of 1.00. The company has a market cap of $2.82 billion, a PE ratio of 100.72, a price-to-earnings-growth ratio of 0.36 and a beta of 1.71.

ArcBest (NASDAQ:ARCB – Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The transportation company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.12. ArcBest had a net margin of 0.66% and a return on equity of 9.93%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the company posted $1.46 EPS. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, research analysts expect that ArcBest will post 7.42 earnings per share for the current year.

ArcBest Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be issued a $0.12 dividend. The ex-dividend date is Friday, November 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.4%. ArcBest’s dividend payout ratio is currently 37.80%.

About ArcBest

(Get Free Report)

ArcBest Corporation (NASDAQ: ARCB) is a multibillion-dollar logistics company headquartered in Fort Smith, Arkansas. The company provides freight transportation and supply chain solutions through a combination of asset-based and asset-light operations, serving businesses across North America and supporting select international shipping needs.

Its asset-based business is led by ABF Freight, a less-than-truckload carrier that transports palletized and industrial freight. ArcBest also offers expedited transportation, truckload and brokerage services, intermodal transportation, managed transportation, warehouse and distribution support, and supply chain consulting.

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