Janney Montgomery Scott LLC Has $513,000 Stock Holdings in ArcBest Corporation $ARCB

Janney Montgomery Scott LLC lifted its holdings in ArcBest Corporation (NASDAQ:ARCB) by 23.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,667 shares of the transportation company’s stock after purchasing an additional 1,268 shares during the quarter. Janney Montgomery Scott LLC’s holdings in ArcBest were worth $513,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ARCB. Nuveen LLC acquired a new position in ArcBest during the 1st quarter worth approximately $18,460,000. Westwood Holdings Group Inc. boosted its holdings in shares of ArcBest by 36.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 869,267 shares of the transportation company’s stock valued at $61,353,000 after buying an additional 233,409 shares during the last quarter. Ancora Advisors LLC boosted its holdings in shares of ArcBest by 1,812.9% in the 1st quarter. Ancora Advisors LLC now owns 204,587 shares of the transportation company’s stock valued at $14,440,000 after buying an additional 193,892 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of ArcBest in the 1st quarter valued at approximately $9,202,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of 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 buying an additional 104,643 shares during the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Stock Performance

ArcBest stock opened at $73.42 on Friday. The business’s 50-day moving average price is $72.11 and its two-hundred day moving average price is $70.33. ArcBest Corporation has a 12-month low of $55.19 and a 12-month high of $123.25. The stock has a market cap of $1.67 billion, a PE ratio of 10.93, a P/E/G ratio of 1.37 and a beta of 1.66. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.13.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.36 EPS 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 firm 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 business posted $1.98 earnings per share. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, analysts expect that ArcBest Corporation will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, August 8th. ArcBest’s dividend payout ratio (DPR) is 7.14%.

Analyst Upgrades and Downgrades

ARCB has been the subject of several recent analyst reports. Citigroup raised ArcBest from a “neutral” rating to a “buy” rating and increased their price objective for the company from $79.00 to $89.00 in a report on Wednesday, October 8th. Stifel Nicolaus cut their price objective on ArcBest from $93.00 to $81.00 and set a “buy” rating for the company in a report on Thursday, July 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of ArcBest in a report on Wednesday, October 8th. TD Cowen dropped their price target on ArcBest from $72.00 to $67.00 and set a “hold” rating on the stock in a research note on Wednesday, October 1st. Finally, Wells Fargo & Company dropped their price target on ArcBest from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 31st. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $90.00.

ArcBest Company Profile

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.