JPMorgan Chase & Co. Issues Positive Forecast for ArcBest (NASDAQ:ARCB) Stock Price

ArcBest (NASDAQ:ARCB) had its price objective lifted by analysts at JPMorgan Chase & Co. from $158.00 to $164.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 22.76% from the company’s current price.

A number of other research analysts also recently issued reports on ARCB. Wall Street Zen upgraded shares of ArcBest from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 31st. Zacks Research downgraded ArcBest from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Citizens Jmp initiated coverage on ArcBest in a research note on Wednesday, July 15th. They set a “market outperform” rating and a $180.00 price objective for the company. Stifel Nicolaus reduced their price objective on ArcBest from $185.00 to $168.00 and set a “buy” rating for the company in a research note on Thursday, October 8th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $172.00 price objective on shares of ArcBest in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $154.15.

ArcBest Stock Performance

ARCB traded down $5.70 on Thursday, reaching $133.59. 506,896 shares of the stock were exchanged, compared to its average volume of 336,778. The company’s 50-day moving average price is $131.52 and its 200 day moving average price is $124.93. ArcBest has a fifty-two week low of $59.43 and a fifty-two week high of $176.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $2.99 billion, a PE ratio of 193.61, a PEG ratio of 0.41 and a beta of 1.71.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Wednesday, November 4th. The transportation company reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.12. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.20 billion. ArcBest had a return on equity of 7.92% and a net margin of 0.39%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.46 EPS. As a group, sell-side analysts forecast that ArcBest will post 7.06 EPS for the current fiscal year.

Insider Activity

In other ArcBest news, Director Judy R. Mcreynolds sold 2,857 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $138.98, for a total value of $397,065.86. Following the sale, the director directly owned 50,048 shares of the company’s stock, valued at approximately $6,955,671.04. This trade represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jason T. Parks sold 855 shares of the business’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 value of $115,501.95. Following the completion of the sale, the vice president owned 3,794 shares of the company’s stock, valued at $512,531.46. This trade represents a 18.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ARCB. Glenmede Trust Co. NA grew its stake in ArcBest by 1.5% in the 1st quarter. Glenmede Trust Co. NA now owns 6,162 shares of the transportation company’s stock valued at $606,000 after acquiring an additional 93 shares during the period. Crossmark Global Holdings Inc. raised its position in ArcBest by 4.0% during the third quarter. Crossmark Global Holdings Inc. now owns 2,869 shares of the transportation company’s stock worth $366,000 after acquiring an additional 110 shares during the period. PNC Financial Services Group Inc. raised its position in ArcBest by 8.2% during the first quarter. PNC Financial Services Group Inc. now owns 1,775 shares of the transportation company’s stock worth $175,000 after acquiring an additional 134 shares during the period. GAMMA Investing LLC lifted its holdings in ArcBest by 6.3% during the third quarter. GAMMA Investing LLC now owns 2,503 shares of the transportation company’s stock valued at $319,000 after purchasing an additional 149 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in shares of ArcBest by 51.3% in the third quarter. Parallel Advisors LLC now owns 466 shares of the transportation company’s stock valued at $59,000 after purchasing an additional 158 shares during the period. Hedge funds and other institutional investors own 99.27% of the company’s stock.

More ArcBest News

Here are the key news stories impacting ArcBest this week:

• Positive Sentiment: ArcBest earned $2.62 per share, topping the $2.50 consensus, while revenue of $1.21 billion exceeded estimates and grew 15.5% year over year. Higher shipment weights helped support the beat, and executives credited the July reorganization with improving results. Higher shipment weights help ArcBest beat Q3 expectations
• Positive Sentiment: CEO Seth Runser said “green shoots” in demand are emerging, suggesting freight conditions could improve. ArcBest’s Runser says demand green shoots are emerging
• Positive Sentiment: Citigroup lifted its price target to $175 from $170 and maintained a Buy rating, indicating confidence in further upside. Citigroup price target and rating
• Negative Sentiment: Management signaled that ABF’s fourth-quarter operating ratio could worsen by 50–150 basis points sequentially, while forecasting just $7 million–$10 million in Asset-Light operating income. This cautious outlook may temper the positive quarterly results. ArcBest fourth-quarter outlook
• Negative Sentiment: Some commentary flags valuation risk after a substantial prior rally, which could make the stock vulnerable if growth or margins disappoint. 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.