ArcBest Corporation $ARCB Stock Position Lowered by Intech Investment Management LLC

Intech Investment Management LLC lessened its position in ArcBest Corporation (NASDAQ:ARCB) by 40.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,337 shares of the transportation company’s stock after selling 7,023 shares during the quarter. Intech Investment Management LLC’s holdings in ArcBest were worth $767,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ARCB. Johnson Investment Counsel Inc. purchased a new stake in shares of ArcBest in the 3rd quarter valued at approximately $28,000. Smartleaf Asset Management LLC lifted its position in shares of ArcBest by 26.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 675 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 143 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of ArcBest by 507.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock valued at $83,000 after acquiring an additional 934 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of ArcBest in the 2nd quarter valued at approximately $85,000. Finally, Assetmark Inc. lifted its position in ArcBest by 5,940.0% in the 4th quarter. Assetmark Inc. now owns 1,208 shares of the transportation company’s stock worth $90,000 after buying an additional 1,188 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

Analyst Upgrades and Downgrades

ARCB has been the subject of a number of research reports. Bank of America lifted their target price on shares of ArcBest from $138.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday. Citigroup lifted their target price on shares of ArcBest from $122.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Zacks Research raised shares of ArcBest from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Truist Financial lifted their target price on shares of ArcBest from $95.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, The Goldman Sachs Group lifted their target price on shares of ArcBest from $102.00 to $117.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $133.92.

ArcBest Stock Up 7.2%

ArcBest stock opened at $166.22 on Tuesday. The company has a market capitalization of $3.70 billion, a P/E ratio of 68.40, a P/E/G ratio of 0.84 and a beta of 1.55. The firm’s fifty day simple moving average is $120.36 and its 200-day simple moving average is $98.58. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.10. ArcBest Corporation has a 1-year low of $59.43 and a 1-year high of $167.58.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Tuesday, April 28th. The transportation company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $998.79 million for the quarter, compared to the consensus estimate of $999.07 million. ArcBest had a net margin of 1.38% and a return on equity of 6.15%. ArcBest’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 EPS. Sell-side analysts forecast that ArcBest Corporation will post 5.29 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, May 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.3%. ArcBest’s dividend payout ratio (DPR) is currently 19.75%.

ArcBest Profile

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.