ArcBest (NASDAQ:ARCB) Now Covered by Analysts at Truist Financial

Research analysts at Truist Financial began coverage on shares of ArcBest (NASDAQ:ARCB) in a report issued on Thursday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $93.00 price target on the transportation company’s stock. Truist Financial’s price objective points to a potential upside of 27.61% from the stock’s previous close.

A number of other brokerages also recently issued reports on ARCB. Wells Fargo & Company cut their price objective on shares of ArcBest from $105.00 to $96.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Stephens reissued an “overweight” rating and set a $116.00 price objective on shares of ArcBest in a research report on Tuesday. Stifel Nicolaus boosted their price objective on shares of ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Bank of America cut their price objective on shares of ArcBest from $100.00 to $73.00 and set an “underperform” rating for the company in a research report on Wednesday. Finally, Morgan Stanley cut their price objective on shares of ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, ArcBest has an average rating of “Hold” and an average target price of $109.75.

ArcBest Price Performance

Shares of ARCB opened at $72.88 on Thursday. The firm has a market cap of $1.69 billion, a PE ratio of 9.94, a P/E/G ratio of 1.70 and a beta of 1.54. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. The firm has a fifty day simple moving average of $90.82 and a two-hundred day simple moving average of $100.46. ArcBest has a 1-year low of $70.96 and a 1-year high of $153.61.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.22. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. During the same quarter last year, the firm posted $2.47 earnings per share. On average, equities analysts anticipate that ArcBest will post 7 EPS for the current year.

Institutional Trading of ArcBest

Hedge funds have recently bought and sold shares of the stock. OneDigital Investment Advisors LLC raised its position in shares of ArcBest by 3.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,509 shares of the transportation company’s stock valued at $272,000 after buying an additional 86 shares in the last quarter. Avior Wealth Management LLC raised its position in shares of ArcBest by 17.9% during the 3rd quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock valued at $68,000 after buying an additional 95 shares in the last quarter. Arizona State Retirement System raised its position in shares of ArcBest by 1.6% during the 4th quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company’s stock valued at $640,000 after buying an additional 108 shares in the last quarter. Summit Investment Advisors Inc. raised its position in shares of ArcBest by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company’s stock valued at $230,000 after buying an additional 157 shares in the last quarter. Finally, Stephens Inc. AR raised its position in shares of ArcBest by 2.1% during the 4th quarter. Stephens Inc. AR now owns 8,128 shares of the transportation company’s stock valued at $758,000 after buying an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

About ArcBest

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.