Principal Financial Group Inc. lifted its holdings in ArcBest Corp (NASDAQ:ARCB) by 5.0% in the fourth quarter, Holdings Channel reports. The fund owned 224,606 shares of the transportation company’s stock after buying an additional 10,738 shares during the period. Principal Financial Group Inc.’s holdings in ArcBest were worth $7,695,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quantamental Technologies LLC bought a new stake in shares of ArcBest in the 4th quarter worth approximately $38,000. PNC Financial Services Group Inc. lifted its holdings in shares of ArcBest by 13.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,163 shares of the transportation company’s stock worth $107,000 after acquiring an additional 375 shares during the last quarter. Neuburgh Advisers LLC lifted its holdings in shares of ArcBest by 15.1% in the 4th quarter. Neuburgh Advisers LLC now owns 3,520 shares of the transportation company’s stock worth $121,000 after acquiring an additional 462 shares during the last quarter. Sun Life Financial INC lifted its holdings in shares of ArcBest by 596.2% in the 4th quarter. Sun Life Financial INC now owns 3,885 shares of the transportation company’s stock worth $133,000 after acquiring an additional 3,327 shares during the last quarter. Finally, Flinton Capital Management LLC lifted its holdings in shares of ArcBest by 15.1% in the 4th quarter. Flinton Capital Management LLC now owns 5,440 shares of the transportation company’s stock worth $186,000 after acquiring an additional 714 shares during the last quarter. Hedge funds and other institutional investors own 94.31% of the company’s stock.

NASDAQ:ARCB opened at $33.09 on Thursday. ArcBest Corp has a 52 week low of $30.16 and a 52 week high of $51.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $831.53 million, a P/E ratio of 8.57, a PEG ratio of 3.11 and a beta of 2.11.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Wednesday, January 30th. The transportation company reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.08. ArcBest had a net margin of 2.17% and a return on equity of 14.95%. The company had revenue of $774.28 million during the quarter, compared to analyst estimates of $767.78 million. During the same period in the prior year, the business posted $0.42 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. Equities research analysts expect that ArcBest Corp will post 3.68 EPS for the current fiscal year.

A number of equities research analysts have recently weighed in on ARCB shares. Loop Capital boosted their price objective on shares of ArcBest from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, January 31st. Zacks Investment Research lowered shares of ArcBest from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Cowen reiterated a “hold” rating and set a $42.00 price target on shares of ArcBest in a report on Thursday, January 31st. BidaskClub upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a report on Friday, January 11th. Finally, SunTrust Banks initiated coverage on shares of ArcBest in a report on Wednesday, December 12th. They set a “buy” rating and a $47.00 price target for the company. Three analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. ArcBest currently has an average rating of “Hold” and a consensus price target of $43.22.

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ArcBest Profile

ArcBest Corporation provides freight transportation services and integrated logistics solutions worldwide. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

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Institutional Ownership by Quarter for ArcBest (NASDAQ:ARCB)

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