Farther Finance Advisors LLC Increases Stock Position in ArcBest Corporation $ARCB

Farther Finance Advisors LLC increased its position in shares of ArcBest Corporation (NASDAQ:ARCB) by 433.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 384 shares of the transportation company’s stock after purchasing an additional 312 shares during the period. Farther Finance Advisors LLC’s holdings in ArcBest were worth $30,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Signaturefd LLC raised its holdings 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 purchasing an additional 320 shares in the last quarter. CWM LLC raised its holdings 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 purchasing an additional 349 shares in the last quarter. GAMMA Investing LLC raised its holdings 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 purchasing an additional 932 shares in the last quarter. Headlands Technologies LLC purchased a new position in ArcBest during the first quarter worth about $143,000. Finally, Elevation Point Wealth Partners LLC raised its holdings in ArcBest by 33.3% during the first quarter. Elevation Point Wealth Partners LLC now owns 3,053 shares of the transportation company’s stock worth $215,000 after purchasing an additional 762 shares in the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on ARCB. UBS Group increased their price target on shares of ArcBest from $73.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, September 30th. Zacks Research upgraded shares of ArcBest to a “strong sell” rating in a research report on Monday, August 11th. Morgan Stanley lowered their target price on shares of ArcBest from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. Weiss Ratings restated a “hold (c-)” rating on shares of ArcBest in a research report on Saturday, September 27th. Finally, Citigroup lowered their target price on shares of ArcBest from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 10th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ArcBest has an average rating of “Hold” and a consensus target price of $89.33.

ArcBest Stock Down 1.9%

ARCB stock opened at $72.10 on Wednesday. The stock has a market capitalization of $1.64 billion, a P/E ratio of 10.73, a PEG ratio of 1.32 and a beta of 1.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.96 and a current ratio of 0.96. ArcBest Corporation has a one year low of $55.19 and a one year high of $123.25. The company has a 50 day moving average price of $72.05 and a two-hundred day moving average price of $70.29.

ArcBest (NASDAQ:ARCB) last released its earnings results on Wednesday, July 30th. The transportation company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.12). The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. ArcBest had a return on equity of 8.67% and a net margin of 3.90%.The firm’s revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.98 earnings per share. As a group, sell-side analysts expect that ArcBest Corporation will post 7 EPS for the current year.

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 8th. ArcBest’s payout ratio is presently 7.14%.

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.