Citizens Jmp Initiates Coverage on ArcBest (NASDAQ:ARCB)

Stock analysts at Citizens Jmp assumed coverage on shares of ArcBest (NASDAQ:ARCB) in a note issued to investors on Wednesday, Marketbeat.com reports. The firm set a “market outperform” rating and a $180.00 price target on the transportation company’s stock. Citizens Jmp’s target price indicates a potential upside of 14.21% from the stock’s current price.

Several other research analysts also recently commented on ARCB. Stifel Nicolaus raised their price objective on shares of ArcBest from $116.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Wells Fargo & Company boosted their target price on shares of ArcBest from $130.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, June 5th. The Goldman Sachs Group raised their price target on ArcBest from $117.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. lifted their price target on ArcBest from $117.00 to $147.00 and gave the company a “neutral” rating in a research report on Monday, June 8th. Finally, TD Cowen lifted their price target on ArcBest from $137.00 to $175.00 and gave the company a “hold” rating in a research report on Tuesday, June 9th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $151.85.

ArcBest Price Performance

NASDAQ ARCB opened at $157.61 on Wednesday. The company has a market cap of $3.51 billion, a PE ratio of 64.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.57. ArcBest has a 52 week low of $59.43 and a 52 week high of $176.69. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The firm’s 50-day simple moving average is $141.81 and its two-hundred day simple moving average is $114.30.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Tuesday, April 28th. The transportation company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $998.79 million during the quarter, compared to analyst estimates of $999.07 million. ArcBest had a net margin of 1.38% and a return on equity of 6.15%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.51 earnings per share. Research analysts predict that ArcBest will post 6.11 earnings per share for the current year.

Institutional Investors Weigh In On ArcBest

A number of institutional investors and hedge funds have recently made changes to their positions in ARCB. Glenmede Trust Co. NA grew its position in ArcBest by 1.5% during the first quarter. Glenmede Trust Co. NA now owns 6,162 shares of the transportation company’s stock worth $606,000 after buying an additional 93 shares in the last quarter. Amundi raised its holdings in shares of ArcBest by 54.6% in the 1st quarter. Amundi now owns 7,478 shares of the transportation company’s stock valued at $736,000 after acquiring an additional 2,640 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of ArcBest by 24.7% in the 1st quarter. California State Teachers Retirement System now owns 26,926 shares of the transportation company’s stock valued at $2,648,000 after acquiring an additional 5,325 shares in the last quarter. Empowered Funds LLC boosted its position in shares of ArcBest by 37.7% during the 1st quarter. Empowered Funds LLC now owns 158,742 shares of the transportation company’s stock valued at $15,614,000 after acquiring an additional 43,429 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of ArcBest by 2.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 124,826 shares of the transportation company’s stock valued at $12,278,000 after acquiring an additional 2,735 shares during the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

Trending Headlines about ArcBest

Here are the key news stories impacting ArcBest this week:

• Positive Sentiment: ArcBest announced a simplified brand structure, consolidating MoLo Solutions, Panther Premium Logistics and ArcBest Technologies under the ArcBest name starting Aug. 1, a move aimed at improving efficiency and long-term growth. Article Title
• Positive Sentiment: The company also announced broader operational streamlining, including cutting about 2% of its workforce and eliminating certain open roles, which could support margins and earnings power if execution goes well. Article Title
• Positive Sentiment: Truist raised its price target on ArcBest to $165 from $145 and kept a buy rating, while Citizens JMP initiated coverage with a $180 target and outperform rating, signaling analyst confidence in the company’s outlook. Article Title
• Neutral Sentiment: Recent screening and commentary from Zacks highlighted ArcBest’s strong momentum and relatively attractive valuation, reinforcing the view that investor expectations have improved. Article Title
• Negative Sentiment: The workforce reduction and terminal closures indicate ArcBest is still facing pressure to reduce costs and reorganize parts of its less-than-truckload network, which may reflect a tougher operating backdrop. Article Title

ArcBest Company Profile

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.