Moody Aldrich Partners LLC Has $3.02 Million Stock Position in ArcBest Corporation $ARCB

Moody Aldrich Partners LLC lessened its holdings in ArcBest Corporation (NASDAQ:ARCB) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,236 shares of the transportation company’s stock after selling 603 shares during the quarter. Moody Aldrich Partners LLC owned 0.17% of ArcBest worth $3,022,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in ArcBest by 185.3% in the 1st quarter. GAMMA Investing LLC now owns 1,435 shares of the transportation company’s stock valued at $101,000 after purchasing an additional 932 shares during the period. Janney Montgomery Scott LLC acquired a new stake in ArcBest during the first quarter worth approximately $381,000. Teacher Retirement System of Texas increased its stake in ArcBest by 73.3% during the 1st quarter. Teacher Retirement System of Texas now owns 5,529 shares of the transportation company’s stock worth $390,000 after acquiring an additional 2,339 shares during the period. Principal Financial Group Inc. raised its holdings in ArcBest by 1.9% in the 1st quarter. Principal Financial Group Inc. now owns 116,304 shares of the transportation company’s stock valued at $8,209,000 after acquiring an additional 2,115 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in ArcBest by 7.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 40,522 shares of the transportation company’s stock valued at $2,860,000 after acquiring an additional 2,925 shares in the last quarter. 99.27% of the stock is owned by institutional investors.

ArcBest Trading Down 1.7%

Shares of ArcBest stock opened at $71.05 on Friday. The firm’s 50 day moving average is $72.48 and its 200 day moving average is $70.94. The firm has a market capitalization of $1.61 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 1.35 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 current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.13.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. JPMorgan Chase & Co. raised their price target on ArcBest from $85.00 to $87.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Citigroup upgraded shares of ArcBest from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $79.00 to $89.00 in a research note on Wednesday, October 8th. Stifel Nicolaus boosted their target price on shares of ArcBest from $81.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley reduced their price target on shares of ArcBest from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. Finally, TD Cowen decreased their price objective on shares of ArcBest from $72.00 to $67.00 and set a “hold” rating on the stock in a research note on Wednesday, October 1st. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $90.33.

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.