ArcBest (NASDAQ:ARCB) Price Target Raised to $164.00

ArcBest (NASDAQ:ARCB) had its price target lifted by JPMorgan Chase & Co. from $158.00 to $164.00 in a report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the transportation company’s stock.

Several other research analysts also recently commented on ARCB. TD Cowen reduced their price target on shares of ArcBest from $155.00 to $146.00 and set a “hold” rating on the stock in a research note on Wednesday. Citizens Jmp started coverage on ArcBest in a research note on Wednesday, July 15th. They set a “market outperform” rating and a $180.00 price objective for the company. Wall Street Zen upgraded shares of ArcBest from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 31st. Truist Financial lowered their price target on ArcBest from $165.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, October 7th. Finally, Stifel Nicolaus dropped their price objective on shares of ArcBest from $185.00 to $168.00 and set a “buy” rating on the stock in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, ArcBest has an average rating of “Moderate Buy” and an average target price of $153.54.

ArcBest Stock Down 4.3%

NASDAQ ARCB opened at $127.91 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.00 and a debt-to-equity ratio of 0.08. ArcBest has a 52 week low of $59.43 and a 52 week high of $176.69. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 100.72, a PEG ratio of 0.36 and a beta of 1.71. The company has a fifty day moving average of $131.19 and a two-hundred day moving average of $125.35.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Wednesday, November 4th. The transportation company reported $2.62 earnings per share for the quarter, beating 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 business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the firm posted $1.46 earnings per share. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, analysts predict that ArcBest will post 7.42 earnings per share for the current year.

ArcBest Announces Dividend

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

Insider Activity at ArcBest

In other news, VP Jason Parks sold 855 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $135.09, for a total transaction of $115,501.95. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.98% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ARCB. BlackRock Inc. acquired a new position in shares of ArcBest during the second quarter valued at approximately $503,476,000. Dimensional Fund Advisors LP grew its position in ArcBest by 3.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,397,287 shares of the transportation company’s stock worth $137,429,000 after acquiring an additional 47,848 shares during the period. Maple Rock Capital Partners Inc. increased its position in shares of ArcBest by 32.5% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 535,746 shares of the transportation company’s stock worth $76,901,000 after purchasing an additional 131,400 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of ArcBest during the second quarter valued at about $27,281,000. Finally, Empowered Funds LLC acquired a new stake in ArcBest in the 2nd quarter valued at approximately $20,787,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest News Roundup

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

ArcBest Company Profile

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.