ArcBest (ARCB – Research Report), the Industrials sector company, was revisited by a Wall Street analyst today. Analyst Jason Seidl from TD Cowen reiterated a Buy rating on the stock and has a $178.00 price target.
Jason Seidl of TD Cowen has given his Buy rating to ArcBest’s stock (ARCB) due in part to the company’s strong fourth-quarter performance, which surpassed expectations. The company’s asset-based margin showed notable improvement, thanks to effective cost management strategies, solid core pricing gains, and a better business mix. This performance indicates the company’s robust operational capabilities and potential for sustained profitability.
Looking ahead, Seidl appears optimistic about ARCB’s strategic investments for 2024, which include significant expansion of its terminal network that anticipates a demand rebound. Despite a year-over-year decrease in asset-based tonnage, the company has successfully increased revenue per hundredweight, demonstrating its ability to improve yield amidst a strategic shift away from transactional business. The expectation of continued pricing strength, coupled with the company’s investment in capacity expansion, underpins the Buy rating and suggests confidence in ArcBest’s future growth trajectory.
In another report released on January 28, Deutsche Bank also maintained a Buy rating on the stock with a $148.00 price target.
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ArcBest (ARCB) Company Description:
ArcBest Corp. is a holding company which engages in the provision of freight transportation services and solutions. It operates through the following business segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment includes national, inter-regional, and regional transportation of general commodities through standard, expedited, and guaranteed less-than-truckload services. The ArcBest segment refers to the operations of the company’s expedite, truckload, and truckload-dedicated businesses as well as its premium logistics services; international freight transportation with air, ocean, and ground service offerings. The FleetNet segment covers the operations of FleetNet America, Inc., and certain other subsidiaries that provide roadside assistance and maintenance management services for commercial vehicles through a network of third-party service providers. The company was founded in 1966 and is headquartered in Fort Smith, AR.
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