ArcBest Co. (NASDAQ:ARCB) Short Interest Up 16.0% in June

ArcBest Co. (NASDAQ:ARCBGet Free Report) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totalling 1,740,000 shares, an increase of 16.0% from the May 31st total of 1,500,000 shares. Currently, 7.6% of the company’s stock are short sold. Based on an average daily volume of 316,600 shares, the short-interest ratio is presently 5.5 days.

Hedge Funds Weigh In On ArcBest

Several institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its holdings in ArcBest by 49.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 75 shares during the period. Contravisory Investment Management Inc. grew its stake in ArcBest by 70.9% during the first quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock worth $27,000 after buying an additional 78 shares in the last quarter. GAMMA Investing LLC bought a new position in ArcBest in the fourth quarter valued at approximately $39,000. Parallel Advisors LLC increased its stake in shares of ArcBest by 45.8% in the 4th quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 114 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in ArcBest by 51.9% during the fourth quarter. Quadrant Capital Group LLC now owns 597 shares of the transportation company’s stock worth $72,000 after acquiring an additional 204 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

ArcBest Stock Performance

NASDAQ ARCB opened at $107.08 on Monday. ArcBest has a 52-week low of $86.93 and a 52-week high of $153.60. The stock has a market cap of $2.51 billion, a PE ratio of 21.55, a P/E/G ratio of 0.83 and a beta of 1.49. The firm has a 50-day moving average of $112.38 and a 200-day moving average of $124.90. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.23 and a current ratio of 1.23.

ArcBest (NASDAQ:ARCBGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.19). ArcBest had a return on equity of 15.27% and a net margin of 2.80%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the business earned $1.58 earnings per share. The company’s revenue was down 6.3% on a year-over-year basis. On average, sell-side analysts anticipate that ArcBest will post 8.54 EPS for the current year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Thursday, May 9th. ArcBest’s payout ratio is 9.66%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ARCB shares. The Goldman Sachs Group raised their price objective on ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Bank of America lowered their price target on ArcBest from $143.00 to $110.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 1st. TD Cowen cut their price objective on ArcBest from $177.00 to $148.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. StockNews.com downgraded shares of ArcBest from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Finally, UBS Group cut their price target on shares of ArcBest from $150.00 to $126.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $145.00.

Read Our Latest Stock Analysis on ARCB

About ArcBest

(Get Free Report)

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.

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