Ultime notizie per ArcBest (NASDAQ:ARCB) Azioni

ArcBest

ArcBest Corp is engaged in logistics operations. The company operates in two operating segments, The Asset-Based segment includes the results of operations of ABF Freight System, Inc. and certain other subsidiaries. The segment operations include national, inter-regional, and regional transportation of general commodities through standard, expedited, and guaranteed LTL services. The services including freight transportation related to managed transportation solutions and other services. The Asset-Light segment includes the results of operations of the Company's service offerings in truckload, ground expedite, dedicated, intermodal, household goods moving, managed transportation, warehousing and distribution, and international freight transportation for air, ocean, and ground.

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Scopri le ultime mosse degli insider su Coupang, Comstock e ArcBest: chi compra e perché questi titoli sono interessanti.

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ArcBest Corp

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Citigroup analyst Ariel Rosa maintains ArcBest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) with a Neutral and raises the price target from $110 to $127.

Price Target

Analyst Ratings

Citigroup Maintains Neutral on ArcBest, Raises Price Target to $127

Old Dominion Freight Line Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) just reaffirmed its status as <a href="https://www.benzinga.com/topic/shipping">the gold standard</a> in less-than-truckload (LTL) freight, according to JPMorgan analyst Brian Ossenbeck, who recently pored over insights from the 2024 Mastio Survey.
<h2 class="wp-block-heading">Old Dominion's Playbook: The Industry's Gold Standard For 15 Years</h2>
The survey, with feedback from roughly 1,600 shippers, showcases Old Dominion's dominance in an industry where rivals are scrambling to catch up.
Despite the buzz around newer strategies, Ossenbeck's analysis indicates that Old Dominion still has a substantial lead. Peers like XPO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) and Saia Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIA#NASDAQ">SAIA</a>) may be adopting aspects of Old Dominion's "playbook". They&#8217;ve been prioritizing service, improving network efficiency, and leveraging pricing power. But even after implementing these strategies, they've only narrowed the gap by 7%. 
Ossenbeck puts it simply—executing Old Dominion's playbook is easier said than done.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/10/41487850/old-dominion-freight-line-q3-misses-on-earnings-and-revenue-as-economic-headwinds-weigh">Old Dominion Freight Line Q3: Misses On Earnings And Revenue As Economic Headwinds Weigh</a>
<h2 class="wp-block-heading">ArcBest, XPO Make Gains, While TForce, Saia Lag</h2>
Among the pack, ArcBest Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) and XPO made notable strides in 2024. 
ArcBest showed the largest service improvement, with strong gains in on-time pickup and delivery, key metrics for shippers. 
XPO, with its LTL 2.0 strategy, also achieved robust performance gains, especially with smaller shippers. Meanwhile, Estes held steady, maintaining a high service level but not outpacing peers in improvement.
At the other end of the spectrum, TForce Freight is struggling with cost efficiencies and service expectations. Saia, despite a network expansion, saw its service performance slip, a trend Ossenbeck expects to stabilize in the coming year.
And then there's FedEx Freight – which has the second-slowest performance improvement among national carriers.
For 15 years running, Old Dominion has been the reigning champ in LTL freight, while peers have been taking notes. According to Ossenbeck, OD's mastery in service, pricing, and network efficiency keeps it miles ahead – leaving everyone else playing catch-up.
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Photo: Jon Tetzlaff/Shutterstock.com

Analyst Color

ODFL

SAIA

Old Dominion Sets Freight Standard As Rivals Trail Behind

U.S. stocks were higher, with the Dow Jones index gaining around 1,300 points on Wednesday.
Shares of Mercury Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRCY#NASDAQ">MRCY</a>) rose sharply during Wednesday's session after the company reported better-than-expected <a href="https://www.benzinga.com/quote/MRCY/earnings">quarterly financial results.</a>
Mercury Systems reported quarterly earnings of 4 cents per share which beat the analyst consensus estimate of a loss of 8 cents per share. The company reported quarterly sales of $204.431 million which beat the analyst consensus estimate of $181.772 million.
Mercury Systems shares jumped 16.7% to $39.90 on Tuesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>The GEO Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEO#NYSE">GEO</a>) shares jumped 36.2% to $20.60.</li>
<li>CoreCivic, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CXW#NYSE">CXW</a>) shares gained 28.2% to $17.47.</li>
<li>Cytek Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTKB#NASDAQ">CTKB</a>) jumped 28% to $6.96 following upbeat quarterly results.</li>
<li>Treace Medical Concepts, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMCI#NASDAQ">TMCI</a>) shares gained 26.3% to $7.22 following strong quarterly results.</li>
<li>United Fire Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFCS#NASDAQ">UFCS</a>) surged 23.3% to $24.58 following upbeat quarterly earnings.</li>
<li>Revolve Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RVLV#NYSE">RVLV</a>) gained 19.8% to $31.18 following third-quarter results.</li>
<li>Rayonier Advanced Materials Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RYAM#NYSE">RYAM</a>) rose 19.8% to $9.75 after posting third-quarter results.</li>
<li>Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) gained 18.3% to $229.39.</li>
<li>ArcBest Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) rose 16.6% to $121.35 following quarterly results.</li>
<li>Kennametal Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMT#NYSE">KMT</a>) gained 16.3% to $30.91 following better-than-expected quarterly earnings.</li>
<li>Synchrony Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>) gained 16.2% to $66.03.</li>
<li>Evercore Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVR#NYSE">EVR</a>) rose 15.4% to $313.80.</li>
<li>Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) surged 15.2% to $166.57.</li>
<li>Piper Sandler Companies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PIPR#NASDAQ">PIPR</a>) rose 15.1% to $334.57.</li>
<li>Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) surged 14.9% to $28.68.</li>
<li>Qualys, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QLYS#NASDAQ">QLYS</a>) gained 13.6% to $145.65 after the company reported better-than-expected third-quarter financial results and raised its FY24 guidance.</li>
<li>Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>) gained 12.8% to $187.38.</li>
<li>Steel Dynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) surged 12.8% to $153.07.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rose 12.6% to $282.93 following Trump win.</li>
<li>The Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) gained 12.4% to $592.23.</li>
<li>CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) surged 10.7% to $61.26 following strong quarterly revenue.</li>
</ul>
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41744659/jim-cramer-says-he-cant-recommend-this-major-automaker-ceva-is-way-too-high">Jim Cramer Says He Can&#8217;t Recommend This Major Automaker, Ceva Is &#8216;Way Too Hig</a><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41744659/jim-cramer-says-he-cant-recommend-this-major-automaker-ceva-is-way-too-high">h</a>&#8216;</li>
</ul>

Intraday Update

Movers

COIN

CTKB

HOOD

MRCY

PIPR

QLYS

RVLV

RYAM

STLD

TMCI

TSLA

UFCS

Mercury Systems Posts Strong Results, Joins ArcBest, Tesla, Kennametal, Qualys And Other Big Stocks Moving Higher On Wednesday

UBS analyst Thomas Wadewitz maintains ArcBest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) with a Neutral and lowers the price target from $111 to $110.

UBS Maintains Neutral on ArcBest, Lowers Price Target to $110

JP Morgan analyst Brian Ossenbeck maintains ArcBest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) with a Neutral and lowers the price target from $130 to $117.

JP Morgan Maintains Neutral on ArcBest, Lowers Price Target to $117

Wells Fargo analyst Christian Wetherbee maintains ArcBest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) with a Equal-Weight and lowers the price target from $112 to $105.

Wells Fargo Maintains Equal-Weight on ArcBest, Lowers Price Target to $105

Morgan Stanley analyst Ravi Shanker maintains ArcBest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) with a Overweight and lowers the price target from $175 to $170.

Morgan Stanley Maintains Overweight on ArcBest, Lowers Price Target to $170

ArcBest Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) shares are trading lower after the company reported <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b41678433/arcbest-announces-third-quarter-2024-results" rel="noreferrer noopener">worse-than-expected third-quarter 2024 results</a>.
The company reported a third-quarter revenue decline of 5.8% year over year to $1.06 billion, missing the consensus of $1.07 billion.
Sales by segments: Asset-Based $707.7 million (per-day decrease of 5.8%), and Asset-Light $385.3 million (per-day decrease of 9.6%).
Asset-based business total tonnage per day decreased by 11.3%, and total shipments per day fell by 0.7% Y/Y.
Pricing momentum continued in the quarter, driven by a 5.9% general rate increase on Sept. 9, and contract renewal increases of 4.6%. Overall, LTL industry pricing remains rational.
Meanwhile, Asset-Light revenues fell due to lower shipment rates and a higher mix of smaller managed transportation shipments. Shipments per day dipped, but productivity rose, with shipments per employee up 19.5% year over year. Soft freight and excess capacity continue to weigh on results.
Adjusted EBITDA from continuing operations declined to $86.404 million from $101.59 million a year ago.
Adjusted EPS was $1.64 compared to $2.31 a year ago, missing the consensus of $1.83.
ArcBest's operating cash flow for the nine months totaled $229.05 million, compared to $194.76 million a year ago. The company held cash and equivalents of $150.46 million as of the end of September.
"Over the past year, we have made substantial strides in controlling costs, improving productivity, and enhancing our service quality. These efforts contributed to ABF once again being recognized by Mastio for exceeding the industry benchmark for service," said Judy R. McReynolds, ArcBest chairman and CEO
Price Action: ARCB shares traded lower by 5.22% at $98.96 premarket at the last check Friday.
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Photo: Pixabay

Earnings

ArcBest Shares Fall On Q3 Revenue Miss, Productivity Gains Can't Offset Shipment Decline

ArcBest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) reported quarterly earnings of $1.64 per share which missed the analyst consensus estimate of $1.83 by 10.38 percent. This is a 29 percent decrease over earnings of $2.31 per share from the same period last year. The company reported quarterly sales of $1.06 billion which missed the analyst consensus estimate of $1.07 billion by 0.54 percent. This is a 5.76 percent decrease over sales of $1.13 billion the same period last year.

Earnings Misses

ArcBest Q3 2024 Adj EPS $1.64 Misses $1.83 Estimate, Sales $1.06B Miss $1.07B Estimate

Stifel analyst J. Bruce Chan maintains ArcBest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) with a Buy and lowers the price target from $131 to $119.

Stifel Maintains Buy on ArcBest, Lowers Price Target to $119

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Evercore ISI Group raised JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) price target from $217 to $230. Evercore ISI Group analyst Glenn Schorr maintained an Outperform rating. JPMorgan shares closed at $222.29 on Friday. <a href="https://www.benzinga.com/quote/jpm/analyst-ratings">See how other analysts view this stock.</a></li>
<li>RBC Capital cut the price target for Nurix Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NRIX#NASDAQ">NRIX</a>) from $27 to $26. RBC Capital analyst Gregory Renza maintained an Outperform rating. Nurix Therapeutics shares closed at $23.63 on Friday. <a href="https://www.benzinga.com/quote/nrix/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Stifel raised the price target for V.F. Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>) from $21 to $25. Stifel analyst Jim Duffy maintained a Buy rating. V.F. Corporation shares closed at $20.33 on Friday. <a href="https://www.benzinga.com/quote/vfc/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wedbush raised Affirm Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) price target from $25 to $45. Wedbush analyst David Chiaverini upgraded the stock from Underperform to Neutral. Affirm shares closed at $47.08 on Friday. <a href="https://www.benzinga.com/quote/afrm/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Stifel cut Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) price target from $13 to $11. Stifel analyst Mark Kelley maintained a Hold rating. Snap shares closed at $11.13 on Friday. <a href="https://www.benzinga.com/quote/snap/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Evercore ISI Group raised Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) price target from $68 to $71. Evercore ISI Group analyst John Pancari maintained an Outperform rating. Wells Fargo shares closed at $60.99 on Friday. <a href="https://www.benzinga.com/quote/wfc/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>JMP Securities raised the price target for Benitec Biopharma Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTC#NASDAQ">BNTC</a>) from $16 to $18. JMP Securities analyst Silvan Tuerkcan maintained a Market Outperform rating. Benitec Biopharma settled at $10.86 on Friday. <a href="https://www.benzinga.com/quote/bntc/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Piper Sandler raised Boot Barn Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOOT#NYSE">BOOT</a>) price target from $147 to $179. Piper Sandler analyst Peter Keith maintained an Overweight rating. Boot Barn shares closed at $159.36 on Friday. <a href="https://www.benzinga.com/quote/boot/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Baird raised the price target for Fastenal Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAST#NASDAQ">FAST</a>) from $67 to $80. Baird analyst David Manthey maintained a Neutral rating. Fastenal shares closed at $76.82 on Friday. <a href="https://www.benzinga.com/quote/fast/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>TD Cowen cut ArcBest Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) price target from $131 to $114. TD Cowen analyst Jason Seidl downgraded the stock from Buy to Hold. ArcBest shares rose 1.4% to close at $105.95 on Friday. <a href="https://www.benzinga.com/quote/arcb/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying WFC stock? Here&#8217;s what analysts think:

AFRM

BNTC

BOOT

FAST

NRIX

SNAP

Wells Fargo To Rally Around 16%? Here Are 10 Top Analyst Forecasts For Monday

TD Cowen analyst Jason Seidl downgrades ArcBest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) from Buy to Hold and lowers the price target from $131 to $114.

Downgrades

TD Cowen Downgrades ArcBest to Hold, Lowers Price Target to $114

Jefferies analyst Stephanie Moore maintains ArcBest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) with a Buy and lowers the price target from $140 to $130.

Jefferies Maintains Buy on ArcBest, Lowers Price Target to $130

Goldman Sachs analyst Jordan Alliger maintains ArcBest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) with a Neutral and lowers the price target from $133 to $125.

Goldman Sachs Maintains Neutral on ArcBest, Lowers Price Target to $125

Wolfe Research analyst Scott Group downgrades ArcBest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) from Outperform to Peer Perform.

Wolfe Research Downgrades ArcBest to Peer Perform

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58c2edb9b85e930001ba5412/robert-drbul">Guggenheim analyst Robert Drbul</a> initiated coverage on Crocs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CROX#NASDAQ">CROX</a>) with a Buy rating and announced a price target of $182. Crocs shares fell 0.7% to close at $135.61 on Tuesday. <a href="https://www.benzinga.com/quote/CROX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Barclays analyst John Coffey initiated coverage on Shift4 Payments, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FOUR#NYSE">FOUR</a>) with an Overweight rating and announced a price target of $120. Shift4 Payments shares gained 1.3% to close at $91.94 on Tuesday. <a href="https://www.benzinga.com/quote/FOUR/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Citigroup analyst Ariel Rosa initiated coverage on ArcBest Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) with a Neutral rating and announced a price target of $111. ArcBest shares gained 1.6% to close at $102.68 on Tuesday. <a href="https://www.benzinga.com/quote/ARCB/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Deutsche Bank analyst Matt Niknam initiated coverage on Hewlett Packard Enterprise Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) with a Hold rating and announced a price target of $22. Hewlett Packard shares gained 0.5% to close at $20.97 on Tuesday. <a href="https://www.benzinga.com/quote/HPE/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>TD Cowen analyst Bill Kerr initiated coverage on Chewy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) with a Buy rating and announced a price target of $38. Chewy shares closed at $29.52 on Tuesday. <a href="https://www.benzinga.com/quote/CHWY/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying CHWY stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="519" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09093216/image-63-1024x519.png" alt="" class="wp-image-587724" style="width:671px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09093216/image-63-1024x519.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09093216/image-63-300x152.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09093216/image-63-768x389.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09093216/image-63.png 1322w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Initiation

CHWY

CROX

FOUR

This Chewy Analyst Begins Coverage On A Bullish Note; Here Are Top 5 Initiations For Wednesday

Citigroup analyst Ariel Rosa initiates coverage on ArcBest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) with a Neutral rating and announces Price Target of $111.

Citigroup Initiates Coverage On ArcBest with Neutral Rating, Announces Price Target of $111

JP Morgan analyst Brian Ossenbeck maintains ArcBest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) with a Neutral and lowers the price target from $134 to $133.

JP Morgan Maintains Neutral on ArcBest, Lowers Price Target to $133

TD Cowen analyst Jason Seidl maintains ArcBest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) with a Buy and lowers the price target from $136 to $131.

TD Cowen Maintains Buy on ArcBest, Lowers Price Target to $131

Stephens &amp; Co. analyst Daniel Imbro reiterates ArcBest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) with a Overweight and maintains $130 price target.

Reiteration

Stephens & Co. Reiterates Overweight on ArcBest, Maintains $130 Price Target

Wells Fargo analyst Christian Wetherbee maintained a Hold rating on ArcBest (ARCB – Research Report) today and set a price target of $105.00. The c...

Wells Fargo Remains a Hold on ArcBest (ARCB)

TD Cowen analyst Jason Seidl lowered the firm's price target on ArcBest (ARCB) to $112 from $114 and keeps a Hold rating on the shares. The firm sa...

ArcBest price target lowered to $112 from $114 at TD Cowen

The freight and logistics industry is booming thanks to the growing demand, substantial infrastructure investments, and trade growth. Thus, quality trucking freight stocks Old Dominion Freight Line (ODFL), C.H. Robinson Worldwide (CHRW), and ArcBest (ARCB) could be ideal watchlist additions for now. Read more... The freight and logistics market is set for a rebound propelled by the expanding commercial activities globally. Also, easy access and convenience through digital technologies are fueling worldwide consumption and demand.
Considering the industry's bright outlook, it could be wise to watch fundamentally sound trucking freight stocks Old Dominion Freight Line, Inc. (<a href="https://stocknews.com/stock/ODFL/">ODFL</a>), C.H. Robinson Worldwide, Inc. (<a href="https://stocknews.com/stock/CHRW/">CHRW</a>), and ArcBest Corporation (<a href="https://stocknews.com/stock/ARCB/">ARCB</a>) with strengthening global trade trends.
After a slump in 2023 owing to high inflation and rising interest rates, global trade is experiencing an uptrend in 2024. During the first quarter, the <a href="https://unctad.org/news/global-trade-resumes-growth-first-quarter-2024#:~:text=The%20report%20expects%20the%20increase,the%20second%20half%20of%202023.">value of trade in goods increased</a> by around 1% quarter-over-quarter, and services grew by 1.5%. The growth was accelerated by positive trade dynamics for the United States and some developing countries.
Also, in a recent update of <a href="https://www.wto.org/english/news_e/news24_e/stat_10oct24_e.htm#:~:text=In%20the%20October%202024%20update,the%20year%20and%20in%202025.">Global Trade Outlook and Statistics</a>, WTO economists noted global merchandise trade growth of 2.3% year-on-year in the first half of 2024 and expect moderate expansion ahead in the year and in 2025.
Despite lingering geopolitical tensions and increased economic policy uncertainty, the global goods trade is expected to grow 2.7% in 2024, up from the prior estimate of 2.6%. Also, the volume of world merchandise trade is likely to exhibit a 3.0% increase in 2025.
Amid this, the <a href="https://www.mordorintelligence.com/industry-reports/united-states-freight-logistics-market/market-size">United States freight and logistics market</a> is expected to value $1.33 trillion in 2024. It is expected to grow to $1.67 trillion by 2030, exhibiting a 3.90% CAGR, driven by the rising e-commerce trade, technological advancement, rising consumption across the globe, and steady infrastructure investments.
Also, the global road freight transport market is projected to see strong growth and reach around $136.38 billion in 2028, growing at a <a href="https://www.thebusinessresearchcompany.com/report/road-freight-transport-global-market-report">CAGR of 6.5%</a>. Trends like green initiatives and sustainability, digitalization, artificial intelligence, resilience, and supply chain visibility support the sector's expansion.
With these encouraging trends in mind, let's delve into the fundamentals of the three top <a href="https://stocknews.com/category/trucking-freight/">Trucking Freight</a> stock picks, beginning with the third choice.
Stock #3: Old Dominion Freight Line, Inc. (<a href="https://stocknews.com/stock/ODFL/">ODFL</a>)
ODFL operates as a less-than-truckload motor carrier. The company provides regional, inter-regional, and national less-than-truckload services, and expedited transportation. The company also offers various value-added services, including container drayage, truckload brokerage, and supply chain consulting.
On October 17, ODFL's Board of Directors declared a quarterly cash dividend of $0.26 per share, payable on December 18, 2024, to shareholders of record at the close of business on December 4, 2024. The dividend payment represents a 30% increase from the quarterly cash dividend paid in December 2023.
ODFL's annual dividend of $1.04 translates to a yield of 0.53% at the current share price. Its four-year average dividend yield is 0.35%. Also, the company's dividend payouts have increased at a CAGR of 37.7% over the past three years. ODFL has raised its dividends for 6 consecutive years.
ODFL's total <a href="https://www.investopedia.com/terms/r/revenue.asp">revenue</a> increased 6.1% year-over-year to $1.50 billion during the second quarter, which ended June 30, 2024. The company reported operating income of $421.69 million, up 7.7% from the prior-year period. Its net income and EPS came in at $322.04 million and $1.48, indicating growth of 10.2% and 11.3% year-over-year, respectively.
In addition, as of June 30, 2024, the company's cash and cash equivalents stood at $74.30 million, compared to $433.80 million as of December 31, 2023.
Street expects ODFL's revenue for the fiscal year (ending December 2025) to increase 6.1% year-over-year to $6.33 billion. The company's EPS is expected to grow 12.4% year-over-year to $6.24 over the same year. Moreover, the company surpassed the consensus EPS estimates in three of the trailing four quarters.
Shares of ODFL have surged 1.6% over the past month and 2.2% over the past year to close the last trading session at $198.05.
ODFL's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its robust outlook. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
ODFL has a B grade for Quality. It is ranked #10 out of 17 stocks in the <a href="https://stocknews.com/category/trucking-freight/">Trucking Freight</a> industry.
In addition to the POWR Ratings we've stated above, we also have ODFL's ratings for Value, Growth, Momentum, Sentiment, and Stability. Get all ODFL ratings <a href="https://stocknews.com/stock/ODFL/">here</a>.
Stock #2: C.H. Robinson Worldwide, Inc. (<a href="https://stocknews.com/stock/CHRW/">CHRW</a>)
CHRW provides freight transportation services and related logistics and supply chain services internationally. It operates through two segments, North American Surface Transportation; and Global Forwarding. It provides transportation and logistics services, like truckload and less-than-truckload transportation brokerage services.
On August 8, CHRW's Board of Directors declared an increase to its regular quarterly cash dividend to $0.62 per share from $0.61 per share, paid on October 1, 2024, to shareholders of record on September 6, 2024.
CHRW pays an annual dividend of $2.48, which translates to a yield of 2.28% at the current share price. Its four-year average dividend yield is 2.41%. Moreover, the company's dividend payouts have increased at a CAGR of 6.3% over the past three years. CHRW has raised its dividends for 26 consecutive years.
On July 30, CHRW arrived at the strategic decision to sell its European Surface Transportation business to Sennder Technologies GmbH, the leading digital road freight forwarder in Europe. This was part of its enterprise strategy to get fit, fast, and focused.
The move will also drive focus on profitable growth in its four core modes – North American truckload, less-than-truckload, and global ocean and air – as the engines to create the most value for its stakeholders.
For the second quarter that ended June 30, 2024, CHRW's total revenues increased 1.4% year-over-year to $4.48 billion, and its adjusted gross profit grew 3.3% from the year-ago value to $687.41 million. The company's adjusted income from operations was $193.28 million for the quarter, up 31.7% year-over-year.
In addition, CHRW's non-GAAP net income of $137.79 million or $1.15 per share reflects increases of 25.1% and 25% from the prior year's quarter, respectively.
Analysts expect CHRW's revenue and EPS for the third quarter (ended September 2024) to increase 4.5% and 36.7% year-over-year to $4.54 billion and $1.15, respectively. Furthermore, the company surpassed the consensus EPS estimates in three of the trailing four quarters.
Shares of CHRW have surged 53.9% over the past six months and 29.3% over the past year to close the last trading session at $108.88.
CHRW's sound fundamentals are reflected in its POWR Ratings. The stock has a B grade for Growth. Within the same industry, CHRW is ranked #6 of 17 stocks.
<a href="https://stocknews.com/stock/CHRW/">Click here</a> to access additional ratings of CHRW for Quality, Value, Momentum, Sentiment, and Stability.
Stock #1: ArcBest Corporation (<a href="https://stocknews.com/stock/ARCB/">ARCB</a>)
ARCB engages in the provision of ground, air, and ocean transportation solutions. It operates in Asset-Based and Asset-Light segments. The company provides less-than-truckload (LTL) services that transport general commodities like food, textiles, apparel, and furniture.
On October 10, ARCB announced that its household goods moving service, U-Pack&#xAE; partnered with Affirm to provide financing options for long-distance moves. Through the collaboration, customers who apply and are qualified can book a move now and pay on a payment plan later. The innovative payment plans will help customers manage their long-distance moving costs.
On August 6, ARCB joined TriumphPay as a full audit and payments network participant. This is a part of ARCB's strategy to better serve carriers, improve operational efficiency, and enhance payment security.
In the second quarter that ended June 30, 2024, ARCB reported revenues of $1.08 billion. Its non-GAAP operating income grew 28.1% from the prior year's quarter to $64.20 million. Its non-GAAP net income and EPS of $47.38 million and $1.98 indicate 24.8% and 28.6% growth from the year-ago value, respectively.
Furthermore, the company's consolidated adjusted EBITDA from continuing operations rose 24.3% from the prior year's quarter to $94.86 million.
Street expects ARCB's revenue and EPS for the first quarter (ending March 2025) to increase 3.5% and 20.3% year-over-year to $1.07 billion and $1.61, respectively. The company has topped the consensus revenue estimates in all four trailing quarters.
Over the past year, ARCB's stock has surged 8.2% to close the last trading session at $101.86.
ARCB's POWR Ratings reflect its bright prospects. The stock has a B grade for Value and Growth. ARCB has topped among the 17 stocks in the Trucking Freight industry.
<a href="https://stocknews.com/stock/ARCB/">Click here</a> to access additional ratings of ARCB for Momentum, Sentiment, Quality, and Stability.
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ODFL shares were unchanged in after-hours trading Tuesday. Year-to-date, ODFL has declined -1.20%, versus a 23.88% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/odfl-chrw-arcb-3-freight-and-logistics-stocks-to-watch-as-global-trade/>3 Freight and Logistics Stocks to Watch as Global Trade Rebounds</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Freight and Logistics Stocks to Watch as Global Trade Rebounds

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