ArcBest (NASDAQ:ARCB) Stock Rating Upgraded by Zacks Research

ArcBest (NASDAQ:ARCB) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

ARCB has been the topic of a number of other research reports. Stifel Nicolaus raised their price target on shares of ArcBest from $116.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup lifted their target price on shares of ArcBest from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. The Goldman Sachs Group lifted their price target on shares of ArcBest from $102.00 to $117.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley reissued an “overweight” rating and set a $150.00 price target on shares of ArcBest in a research report on Wednesday. Finally, Wells Fargo & Company lifted their target price on shares of ArcBest from $85.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, ArcBest presently has an average rating of “Moderate Buy” and an average target price of $123.42.

ArcBest Stock Performance

ArcBest stock opened at $125.82 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.93. ArcBest has a fifty-two week low of $58.16 and a fifty-two week high of $135.10. The firm’s fifty day moving average price is $103.23 and its 200-day moving average price is $87.98. The stock has a market cap of $2.81 billion, a P/E ratio of 51.78, a price-to-earnings-growth ratio of 0.71 and a beta of 1.42.

ArcBest (NASDAQ:ARCB) last released its earnings results on Tuesday, April 28th. The transportation company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. ArcBest had a net margin of 1.38% and a return on equity of 6.15%. The company had revenue of $998.79 million for the quarter, compared to analyst estimates of $999.07 million. During the same quarter last year, the firm earned $0.51 EPS. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts expect that ArcBest will post 5.16 earnings per share for the current fiscal year.

Institutional Trading of ArcBest

Large investors have recently added to or reduced their stakes in the business. Johnson Investment Counsel Inc. bought a new stake in ArcBest during the third quarter valued at approximately $28,000. Smartleaf Asset Management LLC lifted its holdings in shares of ArcBest by 26.9% in the third quarter. Smartleaf Asset Management LLC now owns 675 shares of the transportation company’s stock worth $47,000 after buying an additional 143 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of ArcBest by 126.6% in the fourth quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock worth $75,000 after buying an additional 567 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of ArcBest in the second quarter worth $85,000. Finally, Hantz Financial Services Inc. raised its stake in ArcBest by 507.6% during the fourth 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 in the last quarter. 99.27% of the stock is currently owned by institutional investors.

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.