27,752 Shares in ArcBest Corporation $ARCB Bought by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 27,752 ArcBest shares worth approximately $3.98 million, joining other institutional investors that increased their positions. Institutions and hedge funds collectively own 99.27% of the company.
• Analysts maintain a generally positive outlook, with ArcBest receiving a “Moderate Buy” consensus rating and an average price target of $154.23. Recent targets range from $155 to $180, though some analysts remain neutral.
• ArcBest exceeded quarterly expectations, reporting adjusted EPS of $2.38 versus a $2.26 estimate and revenue of $1.18 billion, up 15.9% year over year. The company also paid a quarterly dividend of $0.12 per share, while insiders sold nearly 12,000 shares in the latest quarter.

Deutsche Bank AG bought a new position in shares of ArcBest Corporation (NASDAQ:ARCB - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 27,752 shares of the transportation company's stock, valued at approximately $3,984,000. Deutsche Bank AG owned approximately 0.12% of ArcBest at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in shares of ArcBest by 349.9% during the fourth quarter. Principal Financial Group Inc. now owns 493,780 shares of the transportation company's stock worth $36,634,000 after buying an additional 384,024 shares in the last quarter. Quantinno Capital Management LP lifted its stake in ArcBest by 101.9% in the 1st quarter. Quantinno Capital Management LP now owns 20,827 shares of the transportation company's stock valued at $2,049,000 after acquiring an additional 10,511 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in ArcBest by 19,008.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 122,292 shares of the transportation company's stock valued at $9,073,000 after acquiring an additional 121,652 shares in the last quarter. Walleye Capital LLC acquired a new position in ArcBest during the 1st quarter worth approximately $2,579,000. Finally, Pullen Investment Management LLC acquired a new position in ArcBest during the 1st quarter worth approximately $2,826,000. Institutional investors and hedge funds own 99.27% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ARCB. The Goldman Sachs Group reiterated a "buy" rating and issued a $172.00 price objective on shares of ArcBest in a report on Wednesday, July 29th. Bank of America raised their target price on shares of ArcBest from $138.00 to $160.00 and gave the company a "neutral" rating in a research report on Friday, June 5th. Morgan Stanley lifted their price target on shares of ArcBest from $150.00 to $180.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. TD Cowen cut their price target on shares of ArcBest from $175.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, July 30th. Finally, Stephens upgraded shares of ArcBest to a "strong-buy" rating in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $154.23.

Insiders Place Their Bets

In other ArcBest news, insider Erin K. Gattis sold 6,163 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $140.00, for a total value of $862,820.00. Following the completion of the sale, the insider owned 24,286 shares in the company, valued at $3,400,040. This trade represents a 20.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Judy R. Mcreynolds sold 2,857 shares of ArcBest stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $138.98, for a total transaction of $397,065.86. Following the completion of the transaction, the director directly owned 50,048 shares of the company's stock, valued at approximately $6,955,671.04. This trade represents a 5.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 11,963 shares of company stock valued at $1,678,066. Corporate insiders own 0.98% of the company's stock.

ArcBest Stock Up 0.8%

NASDAQ:ARCB opened at $135.56 on Wednesday. ArcBest Corporation has a twelve month low of $59.43 and a twelve month high of $176.69. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 196.46, a price-to-earnings-growth ratio of 0.44 and a beta of 1.57. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.10. The stock's 50 day moving average price is $145.13 and its two-hundred day moving average price is $125.52.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The transportation company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.26 by $0.12. ArcBest had a return on equity of 7.92% and a net margin of 0.39%.The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm posted $1.36 EPS. The firm's revenue for the quarter was up 15.9% compared to the same quarter last year. Equities research analysts expect that ArcBest Corporation will post 6.9 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, August 7th. ArcBest's dividend payout ratio is 69.57%.

About ArcBest

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.

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