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

Analysts at Truist Financial initiated coverage on shares of ArcBest (NASDAQ:ARCB - Get Free Report) in a note issued to investors on Thursday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $93.00 price target on the transportation company's stock. Truist Financial's price target indicates a potential upside of 27.61% from the company's current price.

Other analysts have also recently issued reports about the company. UBS Group cut their target price on ArcBest from $110.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company cut their price objective on ArcBest from $105.00 to $96.00 and set an "equal weight" rating on the stock in a research report on Monday, February 3rd. Bank of America cut their price objective on ArcBest from $100.00 to $73.00 and set an "underperform" rating on the stock in a research report on Wednesday. Stifel Nicolaus lifted their price objective on ArcBest from $109.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Finally, Stephens reaffirmed an "overweight" rating and set a $116.00 price objective on shares of ArcBest in a research report on Tuesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, ArcBest currently has a consensus rating of "Hold" and a consensus price target of $109.75.

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ArcBest Stock Down 0.6 %

NASDAQ ARCB opened at $72.88 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. The stock has a market capitalization of $1.69 billion, a PE ratio of 9.94, a PEG ratio of 1.70 and a beta of 1.54. ArcBest has a 1 year low of $70.96 and a 1 year high of $153.61. The business's 50-day moving average is $90.82 and its 200 day moving average is $100.46.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same period in the previous year, the firm earned $2.47 EPS. Sell-side analysts forecast that ArcBest will post 7 earnings per share for the current year.

Hedge Funds Weigh In On ArcBest

Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in ArcBest by 146.3% in the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock worth $28,000 after acquiring an additional 177 shares during the last quarter. R Squared Ltd purchased a new position in ArcBest in the 4th quarter worth approximately $40,000. Smartleaf Asset Management LLC raised its holdings in ArcBest by 471.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company's stock worth $51,000 after acquiring an additional 453 shares during the last quarter. Quest Partners LLC raised its holdings in ArcBest by 60.6% in the 3rd quarter. Quest Partners LLC now owns 546 shares of the transportation company's stock worth $59,000 after acquiring an additional 206 shares during the last quarter. Finally, Avior Wealth Management LLC raised its holdings in ArcBest by 17.9% in the 3rd quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company's stock worth $68,000 after acquiring an additional 95 shares during the last quarter. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

ArcBest Company Profile

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.

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