ArcBest Corporation $ARCB Shares Bought by Inspire Investing LLC

Inspire Investing LLC grew its stake in ArcBest Corporation (NASDAQ:ARCB) by 281.2% during the 1st quarter, Holdings Channel reports. The fund owned 23,903 shares of the transportation company’s stock after acquiring an additional 17,633 shares during the period. Inspire Investing LLC’s holdings in ArcBest were worth $2,351,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. AQR Capital Management LLC lifted its holdings in ArcBest by 300.3% in the 1st quarter. AQR Capital Management LLC now owns 26,896 shares of the transportation company’s stock valued at $1,898,000 after purchasing an additional 20,177 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of ArcBest by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,017 shares of the transportation company’s stock valued at $989,000 after buying an additional 619 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of ArcBest by 215.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,138 shares of the transportation company’s stock valued at $10,808,000 after buying an additional 104,643 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of ArcBest by 278.2% during the first quarter. Jane Street Group LLC now owns 45,591 shares of the transportation company’s stock valued at $3,218,000 after buying an additional 33,537 shares during the period. Finally, Intech Investment Management LLC lifted its stake in shares of ArcBest by 3.4% during the first quarter. Intech Investment Management LLC now owns 20,135 shares of the transportation company’s stock valued at $1,421,000 after buying an additional 655 shares during the period. Institutional investors and hedge funds own 99.27% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on ARCB shares. Wall Street Zen raised shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Wells Fargo & Company raised their price objective on ArcBest from $130.00 to $150.00 and gave the stock an “equal weight” rating in a report on Friday, June 5th. Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 price objective on shares of ArcBest in a research report on Wednesday, April 29th. UBS Group upped their target price on ArcBest from $98.00 to $122.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Finally, TD Cowen increased their target price on ArcBest from $137.00 to $175.00 and gave the stock a “hold” rating in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, ArcBest currently has an average rating of “Moderate Buy” and a consensus target price of $145.42.

ArcBest Stock Down 1.6%

Shares of ARCB opened at $143.54 on Wednesday. The firm has a market cap of $3.20 billion, a PE ratio of 59.07, a price-to-earnings-growth ratio of 0.66 and a beta of 1.55. The company’s fifty day moving average is $136.06 and its two-hundred day moving average is $108.49. ArcBest Corporation has a fifty-two week low of $59.43 and a fifty-two week high of $176.69. 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 announced its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.32 earnings per share (EPS) 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 net margin of 1.38% and a return on equity of 6.15%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 EPS. Analysts forecast that ArcBest Corporation will post 5.87 earnings per share for the current year.

ArcBest Announces Dividend

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

About ArcBest

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.