Jefferies Financial Group Increases ArcBest (NASDAQ:ARCB) Price Target to $110.00

ArcBest (NASDAQ:ARCB) had its target price increased by research analysts at Jefferies Financial Group from $95.00 to $110.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 21.92% from the company’s current price.

ARCB has been the subject of a number of other reports. UBS Group reduced their price target on shares of ArcBest from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Weiss Ratings restated a “hold (c-)” rating on shares of ArcBest in a research note on Wednesday, January 21st. Bank of America increased their target price on ArcBest from $72.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, December 23rd. Wells Fargo & Company set a $85.00 price target on ArcBest in a research note on Sunday. Finally, Zacks Research raised shares of ArcBest from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, ArcBest has an average rating of “Hold” and an average target price of $95.83.

ArcBest Stock Performance

Shares of ARCB opened at $90.22 on Monday. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 34.57, a P/E/G ratio of 11.38 and a beta of 1.51. The business’s fifty day simple moving average is $78.85 and its two-hundred day simple moving average is $74.58. ArcBest has a 12 month low of $55.19 and a 12 month high of $103.14. The company has a current ratio of 0.95, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Friday, January 30th. The transportation company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.09). ArcBest had a return on equity of 6.51% and a net margin of 1.50%.The business had revenue of $972.69 million during the quarter, compared to analysts’ expectations of $963.74 million. During the same quarter in the prior year, the firm earned $1.33 EPS. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. Research analysts anticipate that ArcBest will post 7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Turtle Creek Asset Management Inc. bought a new stake in ArcBest in the third quarter worth $39,508,000. Ameriprise Financial Inc. raised its position in shares of ArcBest by 158.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 490,064 shares of the transportation company’s stock valued at $37,740,000 after buying an additional 300,642 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of ArcBest by 145.9% in the 3rd quarter. Two Sigma Investments LP now owns 281,803 shares of the transportation company’s stock valued at $19,690,000 after acquiring an additional 167,200 shares during the last quarter. Encompass Capital Advisors LLC purchased a new position in ArcBest in the second quarter worth about $12,657,000. Finally, UBS Group AG increased its stake in ArcBest by 319.3% during the fourth quarter. UBS Group AG now owns 208,007 shares of the transportation company’s stock worth $15,432,000 after acquiring an additional 158,403 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

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.