American Century Companies Inc. Buys 71,420 Shares of ArcBest Corporation $ARCB

Key Points

• American Century Companies increased its stake in ArcBest by 9.6%, buying 71,420 shares to hold 817,091 shares (3.63% ownership) valued at about $57.09 million at quarter-end.
• ArcBest missed quarterly EPS expectations ($0.36 vs. $0.45) with revenue down ~2.9% year-over-year, while the stock trades near $99.71, has a PE of 38.2, and a 52-week range of $55.19–$112.92.
• Analyst coverage is mixed: six Buy vs. eight Hold ratings, an average rating of “Hold” and an average price target of $97, though several firms have recently raised targets (e.g., Truist to $95, Buy).

American Century Companies Inc. lifted its stake in ArcBest Corporation (NASDAQ:ARCB - Free Report) by 9.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 817,091 shares of the transportation company's stock after purchasing an additional 71,420 shares during the period. American Century Companies Inc. owned 3.63% of ArcBest worth $57,090,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ARCB. Quantbot Technologies LP raised its holdings in ArcBest by 146.3% during the 3rd quarter. Quantbot Technologies LP now owns 1,786 shares of the transportation company's stock worth $125,000 after purchasing an additional 1,061 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of ArcBest by 11.8% during the third quarter. Intech Investment Management LLC now owns 17,360 shares of the transportation company's stock worth $1,213,000 after buying an additional 1,837 shares during the last quarter. AMG National Trust Bank acquired a new position in ArcBest in the third quarter valued at approximately $842,000. GSA Capital Partners LLP boosted its stake in ArcBest by 115.7% in the third quarter. GSA Capital Partners LLP now owns 6,353 shares of the transportation company's stock valued at $444,000 after acquiring an additional 3,408 shares during the last quarter. Finally, Bastion Asset Management Inc. acquired a new stake in ArcBest during the 3rd quarter worth $3,790,000. Institutional investors and hedge funds own 99.27% of the company's stock.

Analyst Ratings Changes

ARCB has been the topic of several analyst reports. Stephens set a $85.00 target price on ArcBest in a research note on Tuesday, January 6th. Truist Financial increased their price target on shares of ArcBest from $85.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, January 15th. Wells Fargo & Company lifted their price objective on shares of ArcBest from $74.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Sunday, February 1st. Stifel Nicolaus lowered their target price on shares of ArcBest from $96.00 to $94.00 and set a "buy" rating for the company in a research note on Monday, February 2nd. Finally, Bank of America lifted their price target on shares of ArcBest from $72.00 to $84.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 23rd. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $97.00.

ArcBest Stock Performance

ARCB opened at $99.71 on Friday. The business's 50-day simple moving average is $94.29 and its 200 day simple moving average is $79.24. ArcBest Corporation has a 52-week low of $55.19 and a 52-week high of $112.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $2.22 billion, a PE ratio of 38.20, a PEG ratio of 0.75 and a beta of 1.48.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its quarterly earnings results on Friday, January 30th. The transportation company reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.09). ArcBest had a net margin of 1.50% and a return on equity of 6.51%. During the same period in the prior year, the company earned $1.33 earnings per share. The firm's revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, sell-side analysts expect that ArcBest Corporation will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Tuesday, February 10th. ArcBest's payout ratio is presently 18.39%.

ArcBest Company Profile

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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