SG Americas Securities LLC Acquires Shares of 7,803 ArcBest Corporation $ARCB

SG Americas Securities LLC bought a new position in shares of ArcBest Corporation (NASDAQ:ARCB) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,803 shares of the transportation company’s stock, valued at approximately $545,000.

Several other institutional investors and hedge funds have also made changes to their positions in ARCB. Ameriprise Financial Inc. grew its stake in ArcBest by 158.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 490,064 shares of the transportation company’s stock worth $37,740,000 after buying an additional 300,642 shares during the last quarter. Encompass Capital Advisors LLC purchased a new position in shares of ArcBest during the second quarter worth approximately $12,657,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 acquiring an additional 104,643 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of ArcBest by 241.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 123,904 shares of the transportation company’s stock valued at $10,149,000 after acquiring an additional 87,592 shares during the period. Finally, Impala Asset Management LLC purchased a new stake in ArcBest in the 2nd quarter valued at $5,468,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. TD Cowen reissued a “hold” rating on shares of ArcBest in a research report on Friday, January 9th. UBS Group lowered their price target on ArcBest from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. JPMorgan Chase & Co. boosted their price target on ArcBest from $85.00 to $87.00 and gave the company a “neutral” rating in a research report on Wednesday, October 8th. Stifel Nicolaus increased their price objective on ArcBest from $85.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Stephens set a $85.00 target price on ArcBest in a research note on Tuesday, January 6th. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, ArcBest currently has a consensus rating of “Hold” and a consensus price target of $92.92.

ArcBest Trading Down 2.5%

ArcBest stock opened at $89.68 on Friday. ArcBest Corporation has a 12-month low of $55.19 and a 12-month high of $103.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $2.02 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 11.60 and a beta of 1.51. The firm has a 50 day simple moving average of $76.30 and a 200-day simple moving average of $74.49.

ArcBest (NASDAQ:ARCB) last released its earnings results on Wednesday, November 5th. The transportation company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.09. ArcBest had a return on equity of 8.24% and a net margin of 2.41%.The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the firm posted $1.64 earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, equities research analysts expect that ArcBest Corporation will post 7 EPS for the current fiscal year.

ArcBest Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, November 14th. ArcBest’s payout ratio is presently 11.40%.

ArcBest Profile

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.