Fintel reports that on June 7, 2024, Wells Fargo initiated coverage of ArcBest (NasdaqGS:ARCB) with a Overweight recommendation.
Analyst Price Forecast Suggests 33.59% Upside
As of June 2, 2024, the average one-year price target for ArcBest is 144.84. The forecasts range from a low of 111.10 to a high of $189.00. The average price target represents an increase of 33.59% from its latest reported closing price of 108.42.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for ArcBest is 5,380MM, an increase of 23.46%. The projected annual non-GAAP EPS is 11.79.
What is the Fund Sentiment?
There are 726 funds or institutions reporting positions in ArcBest. This is an increase of 12 owner(s) or 1.68% in the last quarter. Average portfolio weight of all funds dedicated to ARCB is 0.23%, an increase of 5.48%. Total shares owned by institutions decreased in the last three months by 1.87% to 27,667K shares. 
The put/call ratio of ARCB is 0.69, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 1,604K shares representing 6.84% ownership of the company. In its prior filing, the firm reported owning 1,583K shares , representing an increase of 1.29%. The firm increased its portfolio allocation in ARCB by 15.02% over the last quarter.
Alliancebernstein holds 1,583K shares representing 6.75% ownership of the company. In its prior filing, the firm reported owning 1,084K shares , representing an increase of 31.51%. The firm increased its portfolio allocation in ARCB by 36.63% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 715K shares representing 3.05% ownership of the company. In its prior filing, the firm reported owning 720K shares , representing a decrease of 0.58%. The firm increased its portfolio allocation in ARCB by 7.45% over the last quarter.
IWM - iShares Russell 2000 ETF holds 583K shares representing 2.49% ownership of the company. In its prior filing, the firm reported owning 632K shares , representing a decrease of 8.43%. The firm increased its portfolio allocation in ARCB by 12.59% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 573K shares representing 2.45% ownership of the company. In its prior filing, the firm reported owning 572K shares , representing an increase of 0.16%. The firm increased its portfolio allocation in ARCB by 9.39% over the last quarter.
ArcBest Background Information
(This description is provided by the company.)
ArcBest® is a leading logistics company with creative problem solvers who deliver innovative solutions for its customers' supply chain needs. The company will find a way to deliver knowledge, expertise and a can-do attitude with every shipment and supply chain solution, household move or vehicle repair.
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