Truist Financial Raises ArcBest (NASDAQ:ARCB) Price Target to $165.00

ArcBest (NASDAQ:ARCB) had its price target hoisted by equities research analysts at Truist Financial from $145.00 to $165.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Truist Financial’s price objective suggests a potential upside of 4.69% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. Stephens raised ArcBest to a “strong-buy” rating in a research note on Wednesday, July 8th. Wells Fargo & Company upped their price objective on ArcBest from $130.00 to $150.00 and gave the stock an “equal weight” rating in a report on Friday, June 5th. Stifel Nicolaus increased their target price on ArcBest from $116.00 to $134.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Citizens Jmp began coverage on shares of ArcBest in a report on Wednesday. They issued a “market outperform” rating and a $180.00 target price for the company. Finally, Morgan Stanley boosted their price target on shares of ArcBest from $150.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $151.85.

ArcBest Trading Up 6.9%

Shares of ArcBest stock opened at $157.61 on Wednesday. ArcBest has a twelve month low of $59.43 and a twelve month 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 business has a 50-day moving average price of $141.81 and a 200-day moving average price of $114.30. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 64.86, a PEG ratio of 0.64 and a beta of 1.57.

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

Institutional Investors Weigh In On ArcBest

Institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. lifted its stake in shares of ArcBest by 126.6% in the 4th quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock valued at $75,000 after purchasing an additional 567 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of ArcBest during the 2nd quarter valued at approximately $85,000. Hantz Financial Services Inc. increased its position in shares of ArcBest by 507.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock valued at $83,000 after purchasing an additional 934 shares during the last quarter. Assetmark Inc. raised its holdings in ArcBest by 5,940.0% during the 4th quarter. Assetmark Inc. now owns 1,208 shares of the transportation company’s stock valued at $90,000 after buying an additional 1,188 shares during the period. Finally, KBC Group NV raised its holdings 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 buying an additional 532 shares during the period. 99.27% of the stock is owned by institutional investors.

ArcBest News Roundup

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

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.