ArcBest Co. (NASDAQ:ARCB) Shares Bought by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC grew its holdings in shares of ArcBest Co. (NASDAQ:ARCB) by 471.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 549 shares of the transportation company’s stock after acquiring an additional 453 shares during the quarter. Smartleaf Asset Management LLC’s holdings in ArcBest were worth $51,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ARCB. JPMorgan Chase & Co. boosted its position in ArcBest by 24.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company’s stock worth $24,022,000 after acquiring an additional 43,707 shares during the period. Barclays PLC boosted its position in ArcBest by 342.5% during the 3rd quarter. Barclays PLC now owns 43,134 shares of the transportation company’s stock worth $4,678,000 after acquiring an additional 33,386 shares during the period. Partners Group Holding AG boosted its position in ArcBest by 51.5% during the 3rd quarter. Partners Group Holding AG now owns 87,842 shares of the transportation company’s stock worth $9,526,000 after acquiring an additional 29,849 shares during the period. Charles Schwab Investment Management Inc. boosted its position in ArcBest by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 414,261 shares of the transportation company’s stock worth $44,927,000 after acquiring an additional 21,905 shares during the period. Finally, Citigroup Inc. boosted its position in ArcBest by 91.1% during the 3rd quarter. Citigroup Inc. now owns 45,313 shares of the transportation company’s stock worth $4,914,000 after acquiring an additional 21,606 shares during the period. Institutional investors and hedge funds own 99.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ARCB. Morgan Stanley reduced their price target on ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Stifel Nicolaus upped their price objective on ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Wells Fargo & Company cut their price objective on ArcBest from $105.00 to $96.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. UBS Group cut their price objective on ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Finally, Citigroup upped their price objective on ArcBest from $110.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $118.91.

ArcBest Trading Down 1.4 %

Shares of NASDAQ ARCB opened at $74.19 on Tuesday. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 10.12, a P/E/G ratio of 1.70 and a beta of 1.54. ArcBest Co. has a 12 month low of $71.57 and a 12 month 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 fifty day simple moving average of $91.63 and a 200-day simple moving average of $100.92.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same quarter last year, the business earned $2.47 EPS. Sell-side analysts predict that ArcBest Co. will post 7 EPS for the current year.

ArcBest Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.65%. The ex-dividend date was Tuesday, February 11th. ArcBest’s payout ratio is 6.55%.

About ArcBest

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.