Citizens Securities maintained its 'Market Outperform' rating on Knight Transportation (NYSE: KNX) with a price target of $90, according to an update from analyst Jeff Kauffman. The firm also reiterated positive outlooks for Covenant Logistics, FedEx Freight, ArcBest and Wabash National, each assigned the same rating and respective price targets of $60, $190, $180 and $25.
Kauffman’s assessment followed discussions with consultants, management teams and industry contacts at the 75th ACT Research Seminar held the prior week. The interactions reinforced Citizens’ view of a supportive environment for trucking sector profitability and equipment demand, with indications of accelerating momentum in the space.
ArcBest Corp reported second-quarter 2026 financial results that exceeded analyst expectations, driven by stronger performance in its Asset-Light segment. Adjusted earnings per share reached $2.38, surpassing the $2.17 estimate. Revenue totaled $1.2 billion, a 16% increase from the same period a year earlier and above the $1.18 billion projection. Non-GAAP operating income rose to $74 million from $45 million in the prior-year quarter.
The company’s stock has delivered an 83% year-to-date return, trading at $135.56 with a market capitalization of $3.03 billion. BofA Securities adjusted its price target for ArcBest to $152 from $173 while maintaining a Neutral rating, citing valuation concerns. Separately, InvestingPro noted that eight analysts have recently revised ArcBest’s earnings-per-share estimates upward, anticipating net income growth for the year.
Knight-Swift Transportation was also cited among favored names in the sector by Citizens.
