ArcBest Corporation $ARCB Shares Purchased by Impala Asset Management LLC

Impala Asset Management LLC boosted its stake in ArcBest Corporation (NASDAQ:ARCB) by 6.1% in the 4th quarter, Holdings Channel reports. The firm owned 70,000 shares of the transportation company’s stock after buying an additional 4,000 shares during the quarter. ArcBest accounts for approximately 3.3% of Impala Asset Management LLC’s portfolio, making the stock its 8th biggest position. Impala Asset Management LLC’s holdings in ArcBest were worth $5,193,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ARCB. AQR Capital Management LLC increased 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. increased its holdings in ArcBest by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,017 shares of the transportation company’s stock valued at $989,000 after purchasing an additional 619 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in ArcBest by 215.8% in the 1st 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 purchasing an additional 104,643 shares in the last quarter. Jane Street Group LLC increased its holdings in ArcBest by 278.2% in the 1st quarter. Jane Street Group LLC now owns 45,591 shares of the transportation company’s stock valued at $3,218,000 after purchasing an additional 33,537 shares in the last quarter. Finally, Intech Investment Management LLC boosted its position in ArcBest by 3.4% in the 1st 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 last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

ArcBest Stock Performance

NASDAQ:ARCB opened at $173.04 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.93. ArcBest Corporation has a 1-year low of $59.43 and a 1-year high of $176.69. The firm has a 50-day moving average of $126.36 and a two-hundred day moving average of $101.39. The stock has a market cap of $3.85 billion, a P/E ratio of 71.21, a PEG ratio of 0.78 and a beta of 1.55.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Tuesday, April 28th. The transportation company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.27 by $0.05. ArcBest had a net margin of 1.38% and a return on equity of 6.15%. The business had revenue of $998.79 million for the quarter, compared to analysts’ expectations of $999.07 million. During the same quarter last year, the company posted $0.51 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, research analysts expect that ArcBest Corporation will post 5.87 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Truist Financial upped their price objective on shares of ArcBest from $95.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Bank of America upped their price objective on shares of ArcBest from $138.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, June 5th. The Goldman Sachs Group upped their price objective on shares of ArcBest from $102.00 to $117.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Wells Fargo & Company upped their price objective on shares of ArcBest from $130.00 to $150.00 and gave the company an “equal weight” rating in a research report on Friday, June 5th. Finally, Stifel Nicolaus upped their price objective on shares of ArcBest from $116.00 to $134.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, ArcBest has a consensus rating of “Moderate Buy” and an average price target of $137.08.

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.