ArcBest Corporation $ARCB Shares Acquired by UBS Group AG

Key Points

• UBS Group AG sharply increased its ArcBest stake in the fourth quarter, boosting holdings by 319.3% to 208,007 shares worth about $15.4 million.
• Wall Street sentiment is largely positive, with several analysts raising price targets; the consensus rating is “Moderate Buy” and the average target price is $123.42.
• ArcBest beat earnings expectations in its latest quarter, reporting EPS of $0.32 versus $0.27 expected, while revenue rose 3.3% year over year; the company also announced a quarterly dividend of $0.12 per share.

UBS Group AG boosted its holdings in shares of ArcBest Corporation (NASDAQ:ARCB - Free Report) by 319.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 208,007 shares of the transportation company's stock after purchasing an additional 158,403 shares during the period. UBS Group AG owned approximately 0.92% of ArcBest worth $15,432,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in ArcBest by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 2,451,162 shares of the transportation company's stock valued at $181,852,000 after purchasing an additional 6,808 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in ArcBest by 4.0% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 38,343 shares of the transportation company's stock valued at $2,849,000 after purchasing an additional 1,459 shares during the last quarter. KBC Group NV lifted its stake in ArcBest by 69.4% during the fourth quarter. KBC Group NV now owns 1,299 shares of the transportation company's stock valued at $96,000 after purchasing an additional 532 shares during the last quarter. Assetmark Inc. lifted its stake in ArcBest by 5,940.0% during the fourth quarter. Assetmark Inc. now owns 1,208 shares of the transportation company's stock valued at $90,000 after purchasing an additional 1,188 shares during the last quarter. Finally, Steph & Co. lifted its stake in ArcBest by 21.4% during the fourth quarter. Steph & Co. now owns 3,982 shares of the transportation company's stock valued at $295,000 after purchasing an additional 703 shares during the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ARCB has been the subject of several recent research reports. The Goldman Sachs Group increased their target price on shares of ArcBest from $102.00 to $117.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Stifel Nicolaus boosted their price target on shares of ArcBest from $116.00 to $134.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Wall Street Zen upgraded shares of ArcBest from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Truist Financial boosted their price target on shares of ArcBest from $95.00 to $145.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Finally, Morgan Stanley restated an "overweight" rating and set a $150.00 price target on shares of ArcBest in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $123.42.

ArcBest Stock Down 1.3%

ARCB stock opened at $111.48 on Thursday. ArcBest Corporation has a 52-week low of $59.43 and a 52-week high of $135.10. The company's 50 day simple moving average is $105.50 and its 200-day simple moving average is $90.35. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $2.48 billion, a P/E ratio of 45.88, a P/E/G ratio of 0.61 and a beta of 1.55.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. The firm had revenue of $998.79 million for the quarter, compared to analyst estimates of $999.07 million. ArcBest had a net margin of 1.38% and a return on equity of 6.15%. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 EPS. As a group, equities research analysts anticipate that ArcBest Corporation will post 5.29 EPS for the current year.

ArcBest Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 8th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, May 8th. ArcBest's dividend payout ratio is currently 19.75%.

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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