BlackRock Fund Advisors increased its stake in shares of ArcBest Corp. (NASDAQ:ARCB) by 0.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,565,260 shares of the company’s stock after buying an additional 11,470 shares during the period. BlackRock Fund Advisors owned approximately 6.07% of ArcBest Corp. worth $33,794,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Aperio Group LLC boosted its stake in ArcBest Corp. by 35.9% in the first quarter. Aperio Group LLC now owns 16,729 shares of the company’s stock valued at $361,000 after buying an additional 4,423 shares in the last quarter. Algert Global LLC raised its stake in ArcBest Corp. by 13.6% in the first quarter. Algert Global LLC now owns 21,519 shares of the company’s stock valued at $465,000 after buying an additional 2,569 shares during the last quarter. BlackRock Group LTD raised its stake in ArcBest Corp. by 4.6% in the first quarter. BlackRock Group LTD now owns 40,958 shares of the company’s stock valued at $883,000 after buying an additional 1,814 shares during the last quarter. Sei Investments Co. raised its stake in ArcBest Corp. by 9.4% in the fourth quarter. Sei Investments Co. now owns 51,043 shares of the company’s stock valued at $1,092,000 after buying an additional 4,377 shares during the last quarter. Finally, Boston Partners acquired a new stake in ArcBest Corp. during the fourth quarter valued at $1,594,000.
Shares of ArcBest Corp. (NASDAQ:ARCB) traded up 0.34% during trading on Wednesday, reaching $17.78. 128,878 shares of the company were exchanged. The stock has a 50-day moving average of $16.87 and a 200 day moving average of $18.92. The stock has a market capitalization of $457.59 million and a P/E ratio of 12.51. ArcBest Corp. has a 52-week low of $14.85 and a 52-week high of $34.97.
Several analysts have weighed in on the stock. Zacks Investment Research lowered shares of ArcBest Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, April 26th. Stifel Nicolaus lowered shares of ArcBest Corp. from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. They noted that the move was a valuation call. Deutsche Bank AG set a $20.00 target price on shares of ArcBest Corp. and gave the company a “hold” rating in a research note on Thursday, July 21st. Finally, Citigroup Inc. lowered their target price on shares of ArcBest Corp. from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, July 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $24.64.
ArcBest Corporation is a holding company of businesses providing freight transportation services and logistics solutions. The Company operates through five segments: Freight Transportation (ABF Freight) segment, Premium Logistics (Panther), Transportation Management (ABF Logistics), Emergency & Preventative Maintenance (FleetNet) and Household Goods Moving Services (ABF Moving).
