Allianz Asset Management GmbH Buys New Holdings in ArcBest Corporation $ARCB

Allianz Asset Management GmbH bought a new stake in ArcBest Corporation (NASDAQ:ARCB) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 32,147 shares of the transportation company’s stock, valued at approximately $2,476,000.

A number of other large investors have also modified their holdings of the company. Alliancebernstein L.P. raised its stake in shares of ArcBest by 3.6% in the first quarter. Alliancebernstein L.P. now owns 2,664,431 shares of the transportation company’s stock valued at $188,056,000 after purchasing an additional 92,514 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in shares of ArcBest by 36.7% in the first quarter. Westwood Holdings Group Inc. now owns 869,267 shares of the transportation company’s stock valued at $61,353,000 after purchasing an additional 233,409 shares in the last quarter. American Century Companies Inc. raised its stake in shares of ArcBest by 11.5% in the first quarter. American Century Companies Inc. now owns 689,895 shares of the transportation company’s stock valued at $48,693,000 after purchasing an additional 70,976 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of ArcBest by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 436,921 shares of the transportation company’s stock valued at $30,838,000 after purchasing an additional 10,766 shares in the last quarter. Finally, Northern Trust Corp grew its position in ArcBest by 0.4% in the first quarter. Northern Trust Corp now owns 401,549 shares of the transportation company’s stock valued at $28,341,000 after acquiring an additional 1,544 shares during the period. 99.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on ARCB. Zacks Research upgraded ArcBest to a “strong sell” rating in a research report on Monday, August 11th. UBS Group upped their price target on ArcBest from $73.00 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday, September 30th. Stifel Nicolaus lowered their price target on ArcBest from $93.00 to $81.00 and set a “buy” rating on the stock in a research report on Thursday, July 31st. Morgan Stanley lowered their price target on ArcBest from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. Finally, TD Cowen lowered their price target on ArcBest from $72.00 to $67.00 and set a “hold” rating on the stock in a research report on Wednesday, October 1st. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ArcBest has an average rating of “Hold” and an average target price of $90.00.

ArcBest Price Performance

Shares of ARCB stock opened at $74.56 on Friday. The stock’s fifty day moving average is $72.40 and its 200-day moving average is $70.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $1.69 billion, a PE ratio of 11.10, a PEG ratio of 1.36 and a beta of 1.66. ArcBest Corporation has a 52 week low of $55.19 and a 52 week high of $123.25.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.12). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. ArcBest had a net margin of 3.90% and a return on equity of 8.67%. ArcBest’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.98 EPS. Equities research analysts expect that ArcBest Corporation will post 7 EPS for the current fiscal year.

ArcBest Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.