ArcBest Corporation (NASDAQ:ARCB) Stake Cut by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC decreased its holdings in shares of ArcBest Corporation (NASDAQ:ARCB) by 56.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,409 shares of the transportation company’s stock after selling 1,844 shares during the quarter. Nisa Investment Advisors LLC’s holdings in ArcBest were worth $99,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ARCB. Vanguard Group Inc. raised its holdings in shares of ArcBest by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 2,771,123 shares of the transportation company’s stock valued at $258,601,000 after buying an additional 20,665 shares during the last quarter. Alliancebernstein L.P. boosted its stake in ArcBest by 9.4% during the 4th quarter. Alliancebernstein L.P. now owns 2,571,917 shares of the transportation company’s stock valued at $240,011,000 after purchasing an additional 220,325 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in ArcBest by 2.6% during the fourth quarter. Westwood Holdings Group Inc. now owns 635,858 shares of the transportation company’s stock worth $59,338,000 after acquiring an additional 16,239 shares during the period. American Century Companies Inc. boosted its stake in shares of ArcBest by 16.3% during the 4th quarter. American Century Companies Inc. now owns 618,919 shares of the transportation company’s stock worth $57,758,000 after acquiring an additional 86,867 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of ArcBest by 1.5% in the 4th quarter. Northern Trust Corp now owns 400,005 shares of the transportation company’s stock worth $37,328,000 after acquiring an additional 5,739 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. UBS Group raised their target price on shares of ArcBest from $64.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Citigroup increased their target price on shares of ArcBest from $67.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 9th. Stifel Nicolaus lowered their price target on shares of ArcBest from $102.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Wall Street Zen raised ArcBest from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company boosted their target price on shares of ArcBest from $60.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, July 7th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $93.17.

ArcBest Trading Down 1.5%

Shares of ARCB stock opened at $78.54 on Friday. The firm has a market capitalization of $1.80 billion, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 0.85 and a beta of 1.71. ArcBest Corporation has a 1 year low of $55.19 and a 1 year high of $129.83. The firm’s fifty day simple moving average is $71.49 and its 200 day simple moving average is $76.43. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Tuesday, April 29th. The transportation company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $967.08 million for the quarter, compared to the consensus estimate of $990.03 million. ArcBest had a return on equity of 10.05% and a net margin of 4.37%. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.34 EPS. As a group, sell-side analysts predict that ArcBest Corporation will post 7 EPS for the current year.

ArcBest Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.61%. ArcBest’s payout ratio is presently 6.35%.

About ArcBest

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.