FNY Investment Advisers LLC Takes Position in ArcBest Corporation $ARCB

FNY Investment Advisers LLC bought a new stake in ArcBest Corporation (NASDAQ:ARCB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 670 shares of the transportation company’s stock, valued at approximately $51,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ARCB. GAMMA Investing LLC grew its stake 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 valued at $101,000 after buying an additional 932 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of ArcBest in the first quarter valued at $381,000. Teacher Retirement System of Texas grew its stake in shares of ArcBest by 73.3% in the first quarter. Teacher Retirement System of Texas now owns 5,529 shares of the transportation company’s stock valued at $390,000 after buying an additional 2,339 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of ArcBest by 1.9% in the first quarter. Principal Financial Group Inc. now owns 116,304 shares of the transportation company’s stock valued at $8,209,000 after buying an additional 2,115 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of ArcBest by 7.8% in the first quarter. Envestnet Asset Management Inc. now owns 40,522 shares of the transportation company’s stock valued at $2,860,000 after buying an additional 2,925 shares in the last quarter. 99.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ARCB has been the topic of a number of recent analyst reports. Morgan Stanley decreased their target price on ArcBest from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. Stifel Nicolaus decreased their target price on ArcBest from $93.00 to $81.00 and set a “buy” rating on the stock in a report on Thursday, July 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of ArcBest in a report on Wednesday, October 8th. Wells Fargo & Company decreased their target price on ArcBest from $90.00 to $80.00 and set an “equal weight” rating on the stock in a report on Thursday, July 31st. Finally, Citigroup raised ArcBest from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $79.00 to $89.00 in a report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, ArcBest presently has a consensus rating of “Hold” and a consensus target price of $90.00.

ArcBest Stock Performance

ARCB opened at $73.20 on Friday. The business has a fifty day simple moving average of $72.34 and a 200 day simple moving average of $70.60. The company has a market capitalization of $1.66 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 1.41 and a beta of 1.66. ArcBest Corporation has a 1 year low of $55.19 and a 1 year high of $123.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.96.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.12). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. ArcBest had a net margin of 3.90% and a return on equity of 8.67%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.98 earnings per share. Research analysts expect that ArcBest Corporation will post 7 EPS for the current year.

About ArcBest

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.