ArcBest Corporation $ARCB Stake Raised by Impala Asset Management LLC

Impala Asset Management LLC boosted its stake in ArcBest Corporation (NASDAQ:ARCB) by 6.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 70,000 shares of the transportation company’s stock after buying an additional 4,000 shares during the quarter. ArcBest makes up about 3.3% of Impala Asset Management LLC’s holdings, making the stock its 8th biggest position. Impala Asset Management LLC owned about 0.31% of ArcBest worth $5,193,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Entropy Technologies LP lifted its stake in ArcBest by 25.9% in the 4th quarter. Entropy Technologies LP now owns 11,202 shares of the transportation company’s stock valued at $831,000 after buying an additional 2,302 shares in the last quarter. Alamea Verwaltungs GmbH purchased a new stake in ArcBest in the 4th quarter valued at approximately $355,000. Kestra Advisory Services LLC lifted its stake in ArcBest by 7.1% in the 4th quarter. Kestra Advisory Services LLC now owns 6,442 shares of the transportation company’s stock valued at $478,000 after buying an additional 428 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in ArcBest by 0.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 122,091 shares of the transportation company’s stock valued at $9,058,000 after buying an additional 1,142 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in ArcBest by 24.7% in the 4th quarter. First Trust Advisors LP now owns 56,928 shares of the transportation company’s stock valued at $4,223,000 after buying an additional 11,269 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ARCB shares. Wall Street Zen upgraded ArcBest from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Citigroup boosted their price target on ArcBest from $122.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Zacks Research upgraded ArcBest from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Morgan Stanley reiterated an “overweight” rating and issued a $150.00 price target on shares of ArcBest in a report on Wednesday, April 29th. Finally, Weiss Ratings downgraded ArcBest from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $137.08.

ArcBest Trading Up 0.2%

ARCB stock opened at $173.04 on Friday. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 71.21, a PEG ratio of 0.78 and a beta of 1.55. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $126.36 and a 200-day simple moving average of $101.39. ArcBest Corporation has a 52 week low of $59.43 and a 52 week high of $176.69.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. ArcBest had a return on equity of 6.15% and a net margin of 1.38%.The business had revenue of $998.79 million during the quarter, compared to the consensus estimate of $999.07 million. During the same period in the prior year, the firm posted $0.51 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities research analysts expect that ArcBest Corporation will post 5.87 EPS for the current year.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.3%. The ex-dividend date was Friday, May 8th. ArcBest’s dividend payout ratio is currently 19.75%.

About ArcBest

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.