ArcBest Co. (NASDAQ:ARCB) Holdings Lowered by Arizona State Retirement System

Arizona State Retirement System trimmed its stake in shares of ArcBest Co. (NASDAQ:ARCB) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,716 shares of the transportation company’s stock after selling 104 shares during the quarter. Arizona State Retirement System’s holdings in ArcBest were worth $807,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP raised its holdings in shares of ArcBest by 15,450.0% in the 3rd quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock worth $32,000 after purchasing an additional 309 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of ArcBest in the 2nd quarter worth approximately $37,000. Tower Research Capital LLC TRC raised its holdings in shares of ArcBest by 1,668.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 796 shares of the transportation company’s stock worth $73,000 after purchasing an additional 751 shares in the last quarter. Ancora Advisors LLC bought a new stake in shares of ArcBest in the 1st quarter worth approximately $56,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of ArcBest in the second quarter worth approximately $58,000. 99.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ARCB has been the topic of several analyst reports. TD Cowen lifted their target price on shares of ArcBest from $141.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. UBS Group boosted their price target on shares of ArcBest from $119.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Deutsche Bank Aktiengesellschaft started coverage on shares of ArcBest in a research note on Monday, January 29th. They issued a “buy” rating and a $148.00 price target on the stock. Stephens upped their price target on shares of ArcBest from $165.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Finally, Stifel Nicolaus upped their price target on shares of ArcBest from $153.00 to $159.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, ArcBest presently has a consensus rating of “Moderate Buy” and an average target price of $151.54.

ArcBest Trading Down 6.2 %

Shares of NASDAQ:ARCB opened at $140.00 on Thursday. The company has a market cap of $3.29 billion, a P/E ratio of 17.70, a P/E/G ratio of 0.63 and a beta of 1.49. The stock’s 50-day moving average is $140.66 and its 200-day moving average is $123.38. ArcBest Co. has a 52-week low of $82.18 and a 52-week high of $153.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.26 and a current ratio of 1.26.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Tuesday, February 6th. The transportation company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.25. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. ArcBest had a return on equity of 15.91% and a net margin of 4.41%. The firm’s revenue was down 6.4% compared to the same quarter last year. During the same period last year, the business posted $2.45 earnings per share. Equities research analysts predict that ArcBest Co. will post 10.05 earnings per share for the current year.

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Thursday, February 15th. ArcBest’s payout ratio is presently 6.07%.

Insider Activity at ArcBest

In related news, insider Erin K. Gattis sold 2,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $141.58, for a total value of $283,160.00. Following the completion of the sale, the insider now owns 32,247 shares in the company, valued at $4,565,530.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.18% of the stock is owned by corporate insiders.

ArcBest Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.