Heartland Advisors Inc. Acquires 50,000 Shares of ArcBest Corporation $ARCB

Heartland Advisors Inc. boosted its holdings in ArcBest Corporation (NASDAQ:ARCB) by 83.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 110,000 shares of the transportation company’s stock after acquiring an additional 50,000 shares during the period. Heartland Advisors Inc.’s holdings in ArcBest were worth $10,820,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of ARCB. Federation des caisses Desjardins du Quebec increased its holdings in shares of ArcBest by 0.4% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 22,995 shares of the transportation company’s stock worth $1,706,000 after purchasing an additional 100 shares during the period. Seelaus Asset Management LLC boosted its stake in shares of ArcBest by 3.5% in the fourth quarter. Seelaus Asset Management LLC now owns 3,710 shares of the transportation company’s stock valued at $275,000 after buying an additional 125 shares during the period. ProShare Advisors LLC grew its position in ArcBest by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 4,431 shares of the transportation company’s stock worth $329,000 after buying an additional 135 shares in the last quarter. Stephens Inc. AR grew its position in ArcBest by 2.2% during the fourth quarter. Stephens Inc. AR now owns 6,909 shares of the transportation company’s stock worth $535,000 after buying an additional 150 shares in the last quarter. Finally, LPL Financial LLC increased its stake in ArcBest by 3.4% during the 4th quarter. LPL Financial LLC now owns 6,345 shares of the transportation company’s stock worth $471,000 after acquiring an additional 210 shares during the period. Institutional investors own 99.27% of the company’s stock.

More ArcBest News

Here are the key news stories impacting ArcBest this week:

• Positive Sentiment: Zacks said earnings estimate revisions for ArcBest are trending higher, which often supports a stronger stock price when analysts expect improving profitability. Earnings Estimates Rising for ArcBest (ARCB): Will It Gain?
• Positive Sentiment: Truist reportedly raised its price target on ArcBest to $165, and Citizens JMP initiated coverage, adding to the bullish analyst backdrop. ArcBest (NASDAQ:ARCB) Given New $165.00 Price Target at Truist Financial
• Positive Sentiment: ArcBest announced a simplified brand structure and operational streamlining, with MoLo Solutions, Panther Premium Logistics, and ArcBest Technologies consolidating under the ArcBest name, a move aimed at long-term growth and efficiency. ArcBest Simplifies Brand Structure and Streamlines Operations to Drive Long-Term Growth and Efficiency
• Positive Sentiment: The company also plans to reduce about 2% of its workforce and close 10 LTL terminals, which could lower costs and improve margins if execution goes well. ArcBest to Consolidate Brands, Cut About 2% of Workforce
• Neutral Sentiment: Momentum-focused coverage noted that ArcBest has gained about 5.34% over the past week, reinforcing recent trader interest but not adding a new fundamental catalyst. ArcBest (ARCB) Is Up 5.34% in One Week: What You Should Know
• Neutral Sentiment: Zacks also highlighted ArcBest as a fast-paced momentum stock that may still be reasonably valued, which supports the stock’s current trading interest. ArcBest (ARCB) Shows Fast-paced Momentum But Is Still a Bargain Stock

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wells Fargo & Company lifted their price objective on ArcBest from $130.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, June 5th. The Goldman Sachs Group raised their price target on ArcBest from $117.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Wall Street Zen raised ArcBest from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Morgan Stanley upped their price objective on shares of ArcBest from $150.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Finally, TD Cowen increased their price objective on shares of ArcBest from $137.00 to $175.00 and gave the stock a “hold” rating in a research note on Tuesday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $151.85.

ArcBest Stock Up 1.4%

NASDAQ ARCB opened at $159.81 on Friday. The business has a fifty day moving average price of $142.59 and a two-hundred day moving average price of $114.61. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.93. ArcBest Corporation has a fifty-two week low of $59.43 and a fifty-two week high of $176.69. The stock has a market capitalization of $3.56 billion, a PE ratio of 65.77, a PEG ratio of 0.66 and a beta of 1.57.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Tuesday, April 28th. The transportation company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. ArcBest had a return on equity of 6.15% and a net margin of 1.38%.The company had revenue of $998.79 million for the quarter, compared to analyst estimates of $999.07 million. During the same quarter last year, the company posted $0.51 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts expect that ArcBest Corporation will post 6.38 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.48 annualized dividend and a yield of 0.3%. ArcBest’s payout ratio is presently 19.75%.

ArcBest Company 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.