ArcBest Corporation $ARCB Shares Sold by Impala Asset Management LLC

Impala Asset Management LLC reduced its position in shares of ArcBest Corporation (NASDAQ:ARCB) by 71.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,000 shares of the transportation company’s stock after selling 50,000 shares during the period. ArcBest makes up about 0.9% of Impala Asset Management LLC’s investment portfolio, making the stock its 19th largest position. Impala Asset Management LLC owned approximately 0.09% of ArcBest worth $1,967,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Federated Hermes Inc. lifted its stake in ArcBest by 126.6% during the fourth quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock valued at $75,000 after purchasing an additional 567 shares during the last quarter. Hantz Financial Services Inc. grew its position in ArcBest by 507.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock worth $83,000 after buying an additional 934 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in ArcBest in the second quarter worth approximately $85,000. Assetmark Inc. increased its holdings in shares of ArcBest by 5,940.0% in the fourth quarter. Assetmark Inc. now owns 1,208 shares of the transportation company’s stock valued at $90,000 after buying an additional 1,188 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of ArcBest by 69.4% during the 4th quarter. KBC Group NV now owns 1,299 shares of the transportation company’s stock valued at $96,000 after acquiring an additional 532 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ARCB shares. Citigroup started coverage on ArcBest in a research report on Wednesday, July 15th. They set a “market outperform” rating on the stock. Wall Street Zen upgraded ArcBest from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Citizens Jmp began coverage on shares of ArcBest in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $180.00 target price for the company. TD Cowen boosted their price target on shares of ArcBest from $137.00 to $175.00 and gave the company a “hold” rating in a report on Tuesday, June 9th. Finally, Wells Fargo & Company raised their target price on ArcBest from $130.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $155.08.

ArcBest Stock Down 0.9%

ArcBest stock opened at $159.38 on Thursday. The company has a 50 day moving average of $145.30 and a 200-day moving average of $116.67. 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 Corporation has a twelve month low of $59.43 and a twelve month high of $176.69. The stock has a market capitalization of $3.55 billion, a PE ratio of 65.59, a price-to-earnings-growth ratio of 0.59 and a beta of 1.57.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Tuesday, April 28th. The transportation company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. ArcBest had a net margin of 1.38% and a return on equity of 6.15%. The firm had revenue of $998.79 million during the quarter, compared to analyst estimates of $999.07 million. During the same period in the prior year, the business earned $0.51 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that ArcBest Corporation will post 6.38 EPS for the current fiscal year.

ArcBest Announces Dividend

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

ArcBest 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.