Truist Securities Increases ArcBest (NASDAQ:ARCB) Price Target to $84.00


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ArcBest (NASDAQ:ARCB) had its price objective upped by investment analysts at Truist Securities from $55.00 to $84.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Truist Securities’ target price would indicate a potential upside of 19.52% from the company’s current price.

Several other equities research analysts also recently commented on the company. Stephens increased their price objective on ArcBest from $60.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, April 7th. Vertical Research initiated coverage on ArcBest in a research note on Thursday, April 1st. They issued a “hold” rating and a $72.00 price target on the stock. Smith Barney Citigroup increased their price target on ArcBest from $47.00 to $60.00 in a research note on Thursday, January 14th. Cowen increased their price target on ArcBest from $46.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, February 3rd. Finally, Zacks Investment Research cut ArcBest from a “buy” rating to a “hold” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. ArcBest currently has an average rating of “Buy” and a consensus price target of $64.85.

NASDAQ ARCB opened at $70.28 on Wednesday. The company has a market cap of $1.78 billion, a PE ratio of 44.76, a PEG ratio of 1.26 and a beta of 1.80. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.28. ArcBest has a 12 month low of $17.56 and a 12 month high of $76.21. The stock has a 50 day moving average of $71.10 and a 200-day moving average of $50.41.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Monday, February 1st. The transportation company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. The company had revenue of $816.70 million during the quarter, compared to the consensus estimate of $802.11 million. ArcBest had a return on equity of 9.58% and a net margin of 1.47%. The business’s revenue was up 13.8% on a year-over-year basis. As a group, sell-side analysts predict that ArcBest will post 3.16 EPS for the current fiscal year.

In related news, VP Michael R. Johns sold 1,629 shares of the firm’s stock in a transaction on Tuesday, February 9th. The stock was sold at an average price of $52.68, for a total value of $85,815.72. Also, Director Kathleen D. Mcelligott sold 5,000 shares of the firm’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $71.57, for a total value of $357,850.00. Following the completion of the transaction, the director now owns 19,600 shares in the company, valued at approximately $1,402,772. The disclosure for this sale can be found here. 1.88% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of ARCB. First Trust Advisors LP increased its position in shares of ArcBest by 37.0% in the first quarter. First Trust Advisors LP now owns 62,479 shares of the transportation company’s stock worth $1,924,000 after purchasing an additional 16,860 shares during the period. Cubist Systematic Strategies LLC boosted its stake in ArcBest by 117.7% in the third quarter. Cubist Systematic Strategies LLC now owns 48,237 shares of the transportation company’s stock valued at $1,498,000 after buying an additional 26,083 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in ArcBest in the third quarter valued at about $458,000. Sei Investments Co. boosted its stake in ArcBest by 69.0% in the third quarter. Sei Investments Co. now owns 72,971 shares of the transportation company’s stock valued at $2,266,000 after buying an additional 29,805 shares in the last quarter. Finally, Matarin Capital Management LLC acquired a new stake in ArcBest in the third quarter valued at about $5,027,000. Institutional investors own 88.55% of the company’s stock.

ArcBest Company Profile

ArcBest Corporation provides freight transportation and integrated logistics services. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

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Analyst Recommendations for ArcBest (NASDAQ:ARCB)

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