Citigroup Issues Positive Forecast for ArcBest (NASDAQ:ARCB) Stock Price

ArcBest (NASDAQ:ARCB) had its price objective increased by stock analysts at Citigroup from $170.00 to $175.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Citigroup‘s target price would suggest a potential upside of 31.09% from the stock’s previous close.

Other analysts have also issued research reports about the company. Wall Street Zen raised ArcBest from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 31st. 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 target for the company. Truist Financial decreased their price objective on shares of ArcBest from $165.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, October 7th. The Goldman Sachs Group reissued a “buy” rating and issued a $172.00 price objective on shares of ArcBest in a research note on Wednesday, July 29th. Finally, UBS Group raised their target price on shares of ArcBest from $145.00 to $154.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $152.85.

ArcBest Price Performance

Shares of ARCB traded down $5.79 on Thursday, reaching $133.50. The stock had a trading volume of 506,896 shares, compared to its average volume of 336,778. The firm has a market capitalization of $2.98 billion, a PE ratio of 193.48, a PEG ratio of 0.41 and a beta of 1.71. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average of $131.52 and a 200 day moving average of $124.93. ArcBest has a twelve month low of $59.43 and a twelve month high of $176.69.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Wednesday, November 4th. The transportation company reported $2.62 earnings per share (EPS) for the quarter, topping 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 return on equity of 7.92% and a net margin of 0.39%. ArcBest’s revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 earnings per share. Sell-side analysts expect that ArcBest will post 7.06 EPS for the current year.

Insider Buying and Selling at ArcBest

In other news, VP Jason Parks sold 855 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $135.09, for a total value 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. The trade was a 18.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Judy McReynolds sold 2,857 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $138.98, for a total value of $397,065.86. Following the completion of the sale, the director owned 50,048 shares in the company, valued at $6,955,671.04. This represents a 5.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in ArcBest in the 2nd quarter valued at about $503,476,000. Dimensional Fund Advisors LP grew its holdings in shares of 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. grew its holdings in shares of 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 purchased a new stake in shares of ArcBest during the second quarter worth about $27,281,000. Finally, Empowered Funds LLC acquired a new position in shares of ArcBest in the second quarter valued at approximately $20,787,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

More ArcBest News

Here are the key news stories impacting ArcBest this week:

• Positive Sentiment: Third-quarter adjusted earnings were $2.62 per share, above the roughly $2.50 analyst consensus, while revenue of $1.21 billion also topped estimates and rose 15.5% year over year. Higher shipment weights helped ArcBest beat expectations. Higher shipment weights help ArcBest beat Q3 expectations
• Positive Sentiment: Executives said the July reorganization contributed to stronger results, suggesting operational changes are supporting performance. ArcBest executives say July reorganization shows in solid third quarter results
• Neutral Sentiment: Coverage highlighted tonnage gains, though another report characterized shipment volumes as soft. The combination suggests heavier shipments helped results, but underlying freight demand remains a factor to watch. ArcBest reports Q3 tonnage gains
• Negative Sentiment: ArcBest signaled that ABF Freight’s operating ratio could worsen by 50 to 150 basis points sequentially in the fourth quarter, indicating near-term margin pressure. The company also projected $7 million to $10 million in Asset-Light operating income. ArcBest fourth-quarter outlook
• Negative Sentiment: A valuation-focused article argued ARCB looked overvalued after a 115% run, potentially prompting profit-taking despite the quarterly beat. ArcBest stock looks overvalued after its 115% run

About ArcBest

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.