Allianz Asset Management GmbH Purchases New Position in ArcBest Corporation $ARCB

Allianz Asset Management GmbH purchased a new stake in ArcBest Corporation (NASDAQ:ARCB - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 32,147 shares of the transportation company's stock, valued at approximately $2,476,000. Allianz Asset Management GmbH owned approximately 0.14% of ArcBest as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ARCB. Nuveen LLC bought a new stake in shares of ArcBest in the 1st quarter valued at approximately $18,460,000. Westwood Holdings Group Inc. grew its stake in shares of ArcBest by 36.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 869,267 shares of the transportation company's stock valued at $61,353,000 after buying an additional 233,409 shares in the last quarter. Ancora Advisors LLC grew its stake in shares of ArcBest by 1,812.9% in the 1st quarter. Ancora Advisors LLC now owns 204,587 shares of the transportation company's stock valued at $14,440,000 after buying an additional 193,892 shares in the last quarter. Federated Hermes Inc. bought a new stake in shares of ArcBest in the 1st quarter valued at approximately $9,202,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of ArcBest by 215.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,138 shares of the transportation company's stock valued at $10,808,000 after buying an additional 104,643 shares in the last quarter. Institutional investors own 99.27% of the company's stock.

ArcBest Stock Up 1.9%

Shares of ARCB stock opened at $74.56 on Friday. ArcBest Corporation has a 12 month low of $55.19 and a 12 month high of $123.25. The firm has a market cap of $1.69 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 1.36 and a beta of 1.66. The stock has a 50 day moving average of $72.40 and a 200-day moving average of $70.70. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.13.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.36 EPS for the quarter, missing analysts' consensus estimates 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 analyst estimates of $1.03 billion. During the same quarter last year, the firm earned $1.98 earnings per share. The firm's quarterly revenue was down 5.1% compared to the same quarter last year. On average, equities analysts predict that ArcBest Corporation will post 7 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on ARCB. Citigroup upgraded ArcBest from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $79.00 to $89.00 in a report on Wednesday, October 8th. Cowen restated a "hold" rating on shares of ArcBest in a report on Wednesday, October 1st. Zacks Research upgraded ArcBest to a "strong sell" rating in a report on Monday, August 11th. UBS Group boosted their target price on ArcBest from $73.00 to $80.00 and gave the stock a "neutral" rating in a report on Tuesday, September 30th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of ArcBest in a report on Friday. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $90.00.

ArcBest Company 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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