State of Wyoming Lowers Stock Holdings in ArcBest Corporation $ARCB

State of Wyoming reduced its holdings in ArcBest Corporation (NASDAQ:ARCB) by 38.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,897 shares of the transportation company’s stock after selling 3,654 shares during the period. State of Wyoming’s holdings in ArcBest were worth $580,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ARCB. Federated Hermes Inc. lifted its position in shares of ArcBest by 126.6% during the 4th quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock valued at $75,000 after buying an additional 567 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in ArcBest in the 2nd quarter valued at $85,000. Hantz Financial Services Inc. increased its holdings in ArcBest by 507.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock worth $83,000 after acquiring an additional 934 shares in the last quarter. Assetmark Inc. increased its holdings 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 acquiring an additional 1,188 shares in the last quarter. Finally, KBC Group NV raised its position in ArcBest by 69.4% during the fourth quarter. KBC Group NV now owns 1,299 shares of the transportation company’s stock worth $96,000 after acquiring an additional 532 shares during the period. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

ArcBest Trading Down 1.7%

Shares of ARCB opened at $154.30 on Friday. ArcBest Corporation has a 52-week low of $59.43 and a 52-week high of $176.69. The stock has a market cap of $3.43 billion, a PE ratio of 63.50, a price-to-earnings-growth ratio of 0.56 and a beta of 1.57. The firm’s fifty day moving average is $146.70 and its two-hundred day moving average is $117.49. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Tuesday, April 28th. The transportation company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $998.79 million during the quarter, compared to analysts’ expectations of $999.07 million. ArcBest had a net margin of 1.38% and a return on equity of 6.15%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 earnings per share. Research analysts forecast that ArcBest Corporation will post 6.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. UBS Group lifted their target price on shares of ArcBest from $122.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, July 7th. Citizens Jmp began coverage on shares of ArcBest in a research report on Wednesday, July 15th. They set a “market outperform” rating and a $180.00 price target for the company. Stifel Nicolaus raised their price target on shares of ArcBest from $134.00 to $176.00 and gave the company a “buy” rating in a research note on Tuesday. The Goldman Sachs Group lifted their price objective on ArcBest from $117.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Finally, Wall Street Zen upgraded ArcBest from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, ArcBest presently has a consensus rating of “Moderate Buy” and an average price target of $155.08.

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.