ArcBest Corporation $ARCB Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG has reduced its stake in ArcBest Corporation by 46.1%, owning approximately $1.64 million worth of shares after selling 19,810 during the first quarter.
• ArcBest's stock increased by 7.0%, with a current market capitalization of approximately $1.75 billion as it reports earnings significantly below analysts' expectations.
• The company recently announced a quarterly dividend of $0.12 per share, reflecting an annualized dividend of $0.48, with a yield of 0.6%.

Deutsche Bank AG reduced its position in shares of ArcBest Corporation (NASDAQ:ARCB - Free Report) by 46.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,182 shares of the transportation company's stock after selling 19,810 shares during the quarter. Deutsche Bank AG owned approximately 0.10% of ArcBest worth $1,636,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ARCB. Crossmark Global Holdings Inc. increased its position in shares of ArcBest by 7.1% in the first quarter. Crossmark Global Holdings Inc. now owns 4,303 shares of the transportation company's stock valued at $304,000 after acquiring an additional 285 shares during the period. Signaturefd LLC grew its stake in shares of ArcBest by 477.6% in the first quarter. Signaturefd LLC now owns 387 shares of the transportation company's stock worth $27,000 after purchasing an additional 320 shares during the last quarter. CWM LLC increased its stake in shares of ArcBest by 338.8% during the first quarter. CWM LLC now owns 452 shares of the transportation company's stock valued at $32,000 after buying an additional 349 shares during the period. US Bancorp DE boosted its position in ArcBest by 4.9% during the 1st quarter. US Bancorp DE now owns 7,555 shares of the transportation company's stock valued at $533,000 after acquiring an additional 355 shares in the last quarter. Finally, Stephens Inc. AR grew its holdings in shares of ArcBest by 5.1% during the 1st quarter. Stephens Inc. AR now owns 8,540 shares of the transportation company's stock worth $603,000 after acquiring an additional 412 shares during the period. Hedge funds and other institutional investors own 99.27% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on ARCB shares. The Goldman Sachs Group upgraded shares of ArcBest from a "neutral" rating to a "buy" rating and boosted their target price for the company from $84.00 to $101.00 in a report on Monday, June 2nd. Wall Street Zen upgraded shares of ArcBest from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Wells Fargo & Company lowered their target price on shares of ArcBest from $90.00 to $80.00 and set an "equal weight" rating for the company in a report on Thursday, July 31st. Morgan Stanley reduced their price objective on ArcBest from $140.00 to $130.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $85.00 target price (up from $75.00) on shares of ArcBest in a report on Tuesday, June 10th. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, ArcBest presently has a consensus rating of "Hold" and a consensus price target of $90.00.

ArcBest Stock Performance

Shares of ARCB stock traded down $2.22 during mid-day trading on Monday, reaching $74.87. The stock had a trading volume of 323,767 shares, compared to its average volume of 390,309. ArcBest Corporation has a 1-year low of $55.19 and a 1-year high of $123.25. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 0.89 and a beta of 1.69. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.13. The business's fifty day moving average is $76.48 and its 200-day moving average is $72.31.

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

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, August 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. ArcBest's dividend payout ratio (DPR) is presently 7.14%.

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.