3,500 Shares in ArcBest Corporation $ARCB Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in ArcBest Corporation (NASDAQ:ARCB) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,500 shares of the transportation company’s stock, valued at approximately $270,000.

Other large investors have also bought and sold shares of the company. Signaturefd LLC increased its position in ArcBest by 477.6% in 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. Farther Finance Advisors LLC lifted its position in shares of ArcBest by 433.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 384 shares of the transportation company’s stock valued at $30,000 after buying an additional 312 shares during the last quarter. CWM LLC lifted its position in shares of ArcBest by 338.8% during the 1st quarter. CWM LLC now owns 452 shares of the transportation company’s stock valued at $32,000 after buying an additional 349 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of ArcBest by 185.3% during the 1st quarter. GAMMA Investing LLC now owns 1,435 shares of the transportation company’s stock valued at $101,000 after buying an additional 932 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of ArcBest during the 1st quarter valued at $143,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

ArcBest Stock Performance

Shares of ARCB opened at $74.56 on Monday. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 1.38 and a beta of 1.66. ArcBest Corporation has a 52-week low of $55.19 and a 52-week high of $123.25. The stock’s 50-day simple moving average is $72.40 and its 200 day simple moving average is $70.78. 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 (NASDAQ:ARCB) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.12). The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. ArcBest had a net margin of 3.90% and a return on equity of 8.67%. ArcBest’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.98 EPS. Research analysts forecast that ArcBest Corporation will post 7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ARCB has been the topic of a number of recent research reports. 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 report on Wednesday, October 1st. Cowen reaffirmed a “hold” rating on shares of ArcBest in a research report on Wednesday, October 1st. Zacks Research raised ArcBest to a “strong sell” rating in a research report on Monday, August 11th. Citigroup raised ArcBest from a “neutral” rating to a “buy” rating and upped their price target for the company from $79.00 to $89.00 in a research report on Wednesday, October 8th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of ArcBest in a report on Friday. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, ArcBest 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.