14,325 Shares in ArcBest Corporation (NASDAQ:ARCB) Bought by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. bought a new position in ArcBest Corporation (NASDAQ:ARCB - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 14,325 shares of the transportation company's stock, valued at approximately $1,011,000. Jupiter Asset Management Ltd. owned 0.06% of ArcBest as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in shares of ArcBest by 47.2% in the fourth quarter. JPMorgan Chase & Co. now owns 326,006 shares of the transportation company's stock valued at $30,423,000 after acquiring an additional 104,499 shares during the period. Norges Bank purchased a new position in shares of ArcBest in the fourth quarter valued at about $5,826,000. Franklin Resources Inc. increased its position in shares of ArcBest by 4.3% in the fourth quarter. Franklin Resources Inc. now owns 7,406 shares of the transportation company's stock valued at $691,000 after acquiring an additional 305 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of ArcBest in the fourth quarter valued at about $243,000. Finally, Envestnet Asset Management Inc. increased its position in shares of ArcBest by 18.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 37,597 shares of the transportation company's stock valued at $3,509,000 after acquiring an additional 5,835 shares during the period. Hedge funds and other institutional investors own 99.27% of the company's stock.

ArcBest Trading Up 4.5%

NASDAQ:ARCB opened at $73.31 on Tuesday. ArcBest Corporation has a one year low of $55.19 and a one year high of $123.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 1.00. The company's 50-day simple moving average is $74.39 and its 200 day simple moving average is $74.80. The firm has a market capitalization of $1.68 billion, a P/E ratio of 10.91, a PEG ratio of 0.80 and a beta of 1.69.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.12). ArcBest had a return on equity of 8.67% and a net margin of 3.90%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm earned $1.98 EPS. The company's revenue was down 5.1% on a year-over-year basis. As a group, analysts forecast that ArcBest Corporation will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 8th. ArcBest's payout ratio is presently 7.14%.

Analysts Set New Price Targets

A number of research firms have issued reports on ARCB. JPMorgan Chase & Co. boosted their price objective on shares of ArcBest from $75.00 to $89.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. UBS Group decreased their price objective on shares of ArcBest from $84.00 to $73.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Bank of America upgraded shares of ArcBest from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $63.00 to $74.00 in a research report on Tuesday, June 10th. The Goldman Sachs Group upgraded shares of ArcBest from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $84.00 to $101.00 in a research report on Monday, June 2nd. Finally, TD Cowen reduced their price target on shares of ArcBest from $80.00 to $72.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $90.00.

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.

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