Linden Thomas Advisory Services LLC Boosts Holdings in ArcBest Corporation (NASDAQ:ARCB)

Linden Thomas Advisory Services LLC raised its stake in shares of ArcBest Corporation (NASDAQ:ARCB) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,788 shares of the transportation company’s stock after buying an additional 541 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in ArcBest were worth $1,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Curat Global LLC purchased a new position in ArcBest during the first quarter valued at $82,000. GAMMA Investing LLC lifted its position in shares of ArcBest by 185.3% in the first quarter. GAMMA Investing LLC now owns 1,435 shares of the transportation company’s stock worth $101,000 after buying an additional 932 shares in the last quarter. Cibc World Markets Corp purchased a new position in ArcBest during the 4th quarter valued at approximately $206,000. Lido Advisors LLC purchased a new position in ArcBest during the 4th quarter valued at approximately $211,000. Finally, Elevation Point Wealth Partners LLC raised its holdings in shares of ArcBest by 33.3% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 3,053 shares of the transportation company’s stock worth $215,000 after acquiring an additional 762 shares in the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on ARCB. Wells Fargo & Company lifted their price objective on shares of ArcBest from $60.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday. Truist Financial dropped their price target on ArcBest from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Citigroup upped their price objective on ArcBest from $67.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday. Stifel Nicolaus dropped their target price on ArcBest from $102.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Finally, Wall Street Zen upgraded ArcBest from a “sell” rating to a “hold” rating in a report on Friday, May 9th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $93.17.

ArcBest Stock Down 0.0%

Shares of ARCB opened at $82.94 on Thursday. The firm has a market capitalization of $1.90 billion, a P/E ratio of 10.97, a P/E/G ratio of 0.89 and a beta of 1.71. ArcBest Corporation has a 12-month low of $55.19 and a 12-month high of $129.83. The firm has a fifty day moving average price of $68.65 and a 200-day moving average price of $77.06. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Tuesday, April 29th. The transportation company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The company had revenue of $967.08 million for the quarter, compared to analysts’ expectations of $990.03 million. ArcBest had a return on equity of 10.05% and a net margin of 4.37%. The business’s revenue was down 6.7% compared to the same quarter last year. During the same period last year, the business posted $1.34 earnings per share. Equities research analysts expect that ArcBest Corporation will post 7 earnings per share for the current year.

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Friday, May 9th. ArcBest’s dividend payout ratio is 6.35%.

ArcBest Company 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.