ArcBest Corporation $ARCB Shares Sold by Royce & Associates LP

Royce & Associates LP cut its stake in ArcBest Corporation (NASDAQ:ARCB) by 28.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,246 shares of the transportation company’s stock after selling 27,571 shares during the period. Royce & Associates LP’s holdings in ArcBest were worth $5,212,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Seelaus Asset Management LLC boosted its stake in ArcBest by 3.5% in the 4th quarter. Seelaus Asset Management LLC now owns 3,710 shares of the transportation company’s stock worth $275,000 after purchasing an additional 125 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of ArcBest by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 4,431 shares of the transportation company’s stock worth $329,000 after purchasing an additional 135 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of ArcBest by 26.9% in the third quarter. Smartleaf Asset Management LLC now owns 675 shares of the transportation company’s stock worth $47,000 after purchasing an additional 143 shares during the last quarter. Stephens Inc. AR raised its stake in shares of ArcBest by 2.2% in the fourth quarter. Stephens Inc. AR now owns 6,909 shares of the transportation company’s stock worth $535,000 after purchasing an additional 150 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of ArcBest by 0.3% in the third quarter. Rhumbline Advisers now owns 69,115 shares of the transportation company’s stock worth $4,829,000 after purchasing an additional 180 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

ArcBest Stock Up 2.2%

Shares of ARCB stock opened at $136.69 on Friday. The stock has a 50 day moving average of $113.61 and a 200 day moving average of $94.82. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.10. The stock has a market cap of $3.04 billion, a P/E ratio of 56.25, a P/E/G ratio of 0.72 and a beta of 1.55. ArcBest Corporation has a twelve month low of $59.43 and a twelve month high of $138.00.

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

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.4%. The ex-dividend date was Friday, May 8th. ArcBest’s dividend payout ratio (DPR) is currently 19.75%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ARCB shares. Weiss Ratings cut ArcBest from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday. Jefferies Financial Group raised their price objective on ArcBest from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Wells Fargo & Company raised their price objective on ArcBest from $85.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. The Goldman Sachs Group raised their price objective on ArcBest from $102.00 to $117.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Stifel Nicolaus raised their price objective on ArcBest from $116.00 to $134.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, ArcBest presently has a consensus rating of “Moderate Buy” and an average target price of $123.42.

ArcBest Company 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.