Truist Financial Corp Lowers Holdings in ArcBest Co. (NASDAQ:ARCB)

Truist Financial Corp lowered its holdings in ArcBest Co. (NASDAQ:ARCB) by 14.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,781 shares of the transportation company’s stock after selling 457 shares during the quarter. Truist Financial Corp’s holdings in ArcBest were worth $260,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Blue Trust Inc. raised its holdings in ArcBest by 146.3% in the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock valued at $28,000 after buying an additional 177 shares during the period. R Squared Ltd purchased a new stake in shares of ArcBest in the 4th quarter valued at approximately $40,000. Quest Partners LLC lifted its holdings in shares of ArcBest by 60.6% in the 3rd quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock worth $59,000 after acquiring an additional 206 shares during the last quarter. Avior Wealth Management LLC boosted its position in shares of ArcBest by 17.9% during the 3rd quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock worth $68,000 after purchasing an additional 95 shares during the period. Finally, KBC Group NV increased its holdings in ArcBest by 36.8% in the 3rd quarter. KBC Group NV now owns 851 shares of the transportation company’s stock valued at $92,000 after purchasing an additional 229 shares during the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ARCB. Wells Fargo & Company decreased their price target on ArcBest from $105.00 to $96.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Morgan Stanley lowered their target price on ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Stifel Nicolaus lifted their target price on ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Citigroup increased their price target on shares of ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Finally, UBS Group dropped their price objective on shares of ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, ArcBest presently has an average rating of “Hold” and a consensus target price of $118.91.

ArcBest Price Performance

ARCB stock opened at $74.90 on Thursday. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 1.70 and a beta of 1.51. ArcBest Co. has a fifty-two week low of $71.57 and a fifty-two week high of $153.61. The company has a quick ratio of 1.04, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average price of $93.13 and a 200 day moving average price of $101.84.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.22. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. During the same period in the prior year, the business posted $2.47 EPS. Equities research analysts anticipate that ArcBest Co. will post 7 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Tuesday, February 11th. ArcBest’s payout ratio is currently 6.55%.

ArcBest 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.