ArcBest Corporation $ARCB Shares Acquired by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in ArcBest Corporation by 2.5%, holding approximately 1.89% of the company valued at $30.8 million as of the end of the last quarter.
• Equities research analysts have mixed ratings on ArcBest, with six analysts rating it a Buy, seven a Hold, and one a Sell, and a consensus price target of $90.00.
• ArcBest recently reported quarterly earnings of $1.36 per share, falling short of estimates, and declared a dividend of $0.12 per share with a yield of 0.7% for shareholders.

Charles Schwab Investment Management Inc. lifted its position in shares of ArcBest Corporation (NASDAQ:ARCB - Free Report) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 436,921 shares of the transportation company's stock after acquiring an additional 10,766 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.89% of ArcBest worth $30,838,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Signaturefd LLC boosted its stake in shares of ArcBest by 477.6% during the 1st quarter. Signaturefd LLC now owns 387 shares of the transportation company's stock worth $27,000 after acquiring an additional 320 shares in the last quarter. CWM LLC boosted its stake in shares of ArcBest by 338.8% during the 1st quarter. CWM LLC now owns 452 shares of the transportation company's stock worth $32,000 after acquiring an additional 349 shares in the last quarter. Curat Global LLC purchased a new stake in shares of ArcBest during the 1st quarter worth approximately $82,000. GAMMA Investing LLC boosted its stake in shares of ArcBest by 185.3% during the 1st quarter. GAMMA Investing LLC now owns 1,435 shares of the transportation company's stock worth $101,000 after acquiring an additional 932 shares in the last quarter. Finally, Lido Advisors LLC purchased a new stake in shares of ArcBest during the 4th quarter worth approximately $211,000. Hedge funds and other institutional investors own 99.27% of the company's stock.

ArcBest Trading Down 2.9%

ARCB traded down $2.22 during trading on Monday, hitting $74.87. The company's stock had a trading volume of 323,767 shares, compared to its average volume of 390,309. The firm's 50 day moving average price is $76.48 and its 200-day moving average price is $72.31. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $1.70 billion, a PE ratio of 11.14, a PEG ratio of 0.89 and a beta of 1.69. ArcBest Corporation has a twelve month low of $55.19 and a twelve month high of $123.25.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.12). The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. ArcBest had a net margin of 3.90% and a return on equity of 8.67%. The company's revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.98 earnings per share. On average, analysts expect that ArcBest Corporation will post 7 earnings per share for the current year.

ArcBest Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a $0.12 dividend. The ex-dividend date was Friday, August 8th. This represents a $0.48 annualized dividend and a yield of 0.6%. ArcBest's payout ratio is 7.14%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on ArcBest from $75.00 to $89.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Stifel Nicolaus cut their price objective on ArcBest from $93.00 to $81.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Jefferies Financial Group restated a "buy" rating and set a $85.00 price objective (up from $75.00) on shares of ArcBest in a research report on Tuesday, June 10th. TD Cowen cut their price objective on ArcBest from $80.00 to $72.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Finally, Wall Street Zen upgraded ArcBest from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, ArcBest presently has an average rating of "Hold" and a consensus target price 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.