Deutsche Bank AG Has $1.64 Million Stake in ArcBest Corporation $ARCB

Deutsche Bank AG trimmed its holdings in shares of ArcBest Corporation (NASDAQ:ARCB) by 46.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,182 shares of the transportation company’s stock after selling 19,810 shares during the quarter. Deutsche Bank AG owned about 0.10% of ArcBest worth $1,636,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ARCB. Signaturefd LLC increased its position in ArcBest by 477.6% during the first quarter. Signaturefd LLC now owns 387 shares of the transportation company’s stock worth $27,000 after buying an additional 320 shares during the last quarter. CWM LLC increased its position in ArcBest by 338.8% during the first quarter. CWM LLC now owns 452 shares of the transportation company’s stock worth $32,000 after buying an additional 349 shares during the last quarter. Curat Global LLC acquired a new position in ArcBest during the first quarter worth $82,000. GAMMA Investing LLC increased its position in ArcBest by 185.3% during the first quarter. GAMMA Investing LLC now owns 1,435 shares of the transportation company’s stock worth $101,000 after buying an additional 932 shares during the last quarter. Finally, Lido Advisors LLC acquired a new position in ArcBest during the fourth quarter worth $211,000. 99.27% of the stock is owned by institutional investors and hedge funds.

ArcBest Stock Up 7.0%

NASDAQ ARCB opened at $77.09 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average is $76.36 and its two-hundred day moving average is $72.73. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 0.83 and a beta of 1.69. ArcBest Corporation has a 1-year low of $55.19 and a 1-year high of $123.25.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.12). ArcBest had a net margin of 3.90% and a return on equity of 8.67%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the firm posted $1.98 earnings per share. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. Equities analysts forecast that ArcBest Corporation will post 7 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a $0.12 dividend. The ex-dividend date was Friday, August 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. ArcBest’s payout ratio is 7.14%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Citigroup raised their price target on ArcBest from $67.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, July 9th. Morgan Stanley decreased their target price on ArcBest from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. Bank of America raised ArcBest from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $63.00 to $74.00 in a research report on Tuesday, June 10th. Jefferies Financial Group reaffirmed a “buy” rating and set a $85.00 price objective (up from $75.00) on shares of ArcBest in a report on Tuesday, June 10th. Finally, Wall Street Zen raised ArcBest from a “sell” rating to a “hold” rating in a report on Friday, May 9th. Six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $90.00.

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.