ArcBest (NASDAQ:ARCB) Stock Gets Price Target Boost from JPMorgan Chase & Co.

ArcBest (NASDAQ:ARCB) had its target price raised by stock analysts at JPMorgan Chase & Co. from $158.00 to $164.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 28.22% from the stock’s current price.

A number of other research analysts have also recently issued reports on ARCB. Stephens raised shares of ArcBest to a “strong-buy” rating in a report on Wednesday, July 8th. UBS Group boosted their price target on ArcBest from $145.00 to $154.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. TD Cowen lowered their price target on ArcBest from $155.00 to $146.00 and set a “hold” rating on the stock in a report on Wednesday. Wall Street Zen raised ArcBest from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 31st. Finally, Truist Financial reduced their price objective on ArcBest from $165.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, October 7th. One research 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $153.54.

ArcBest Price Performance

Shares of ARCB traded down $5.68 during trading hours on Thursday, reaching $127.91. The company had a trading volume of 283,449 shares, compared to its average volume of 211,655. The firm has a 50 day simple moving average of $131.19 and a 200-day simple moving average of $125.35. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 100.72, a PEG ratio of 0.40 and a beta of 1.71. ArcBest has a 12-month low of $59.43 and a 12-month high of $176.69.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Wednesday, November 4th. The transportation company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.50 by $0.12. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.20 billion. ArcBest had a net margin of 0.39% and a return on equity of 7.92%. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 earnings per share. Research analysts expect that ArcBest will post 7.31 earnings per share for the current year.

Insider Activity at ArcBest

In other news, VP Jason Parks sold 855 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were 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 trade represents a 18.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ArcBest

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