UPDATE: Stifel Resumes ArcBest Corp (ARCB) at Buy

June 21, 2021 4:11 PM EDT
Get Alerts ARCB Hot Sheet
Price: $77.22 +4.51%

Rating Summary:
    9 Buy, 5 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 8 | New: 46
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(Updated - June 21, 2021 4:12 PM EDT)

Stifel analyst J. Bruce Chan resumes coverage on ArcBest Corp (NASDAQ: ARCB) with a Buy rating, PT $70.00

The analyst comments "We are resuming coverage of ArcBest with a Buy rating and a $70 12-month target price. ArcBest often gets a bad rap in investor circles from its union exposure — we believe that is justifiable, in ways, because of the higher labor cost structure and productivity headwinds that come from more rigid work rules. But with a solid financial footing, a decent fleet, and a differentiated service offering, we think there is opportunity. It may not be the best-in-class operator, in our view, but it has real potential for margin and pricing improvement, especially in the current environment. We believe valuation is still within terrestrial range. So we think ARCB is worth a second look, especially for those seeking exposure to the group."

For an analyst ratings summary and ratings history on ArcBest Corp click here. For more ratings news on ArcBest Corp click here.

Shares of ArcBest Corp closed at $54.15 yesterday.

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