Heartland Advisors Inc. Buys 50,000 Shares of ArcBest Corporation $ARCB

Key Points

• Heartland Advisors Inc. boosted its ArcBest stake by 83.3% in the first quarter, buying 50,000 additional shares to bring its total holdings to 110,000 shares worth about $10.8 million.
• ArcBest reported better-than-expected quarterly EPS of $0.32 versus $0.27 estimated, while revenue came in nearly flat at about $999 million and rose 3.3% from a year earlier.
• Analysts remain cautiously optimistic: several firms raised targets or upgraded the stock, and MarketBeat’s data shows a Moderate Buy consensus with an average price target of $151.85.

Heartland Advisors Inc. grew its stake in shares of ArcBest Corporation (NASDAQ:ARCB - Free Report) by 83.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 110,000 shares of the transportation company's stock after purchasing an additional 50,000 shares during the quarter. Heartland Advisors Inc. owned about 0.49% of ArcBest worth $10,820,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its holdings in ArcBest by 100.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 87,256 shares of the transportation company's stock worth $6,734,000 after buying an additional 43,803 shares during the last quarter. Aberdeen Group plc bought a new stake in ArcBest during the fourth quarter worth $7,240,000. Unison Advisors LLC acquired a new stake in ArcBest in the fourth quarter valued at $780,000. Principal Financial Group Inc. lifted its stake in ArcBest by 349.9% in the fourth quarter. Principal Financial Group Inc. now owns 493,780 shares of the transportation company's stock valued at $36,634,000 after acquiring an additional 384,024 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of ArcBest by 19,008.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 122,292 shares of the transportation company's stock valued at $9,073,000 after acquiring an additional 121,652 shares during the period. Institutional investors own 99.27% of the company's stock.

ArcBest Stock Up 1.4%

Shares of ARCB opened at $159.81 on Friday. The firm has a market cap of $3.56 billion, a P/E ratio of 65.77, a price-to-earnings-growth ratio of 0.66 and a beta of 1.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.93 and a current ratio of 0.93. ArcBest Corporation has a 52 week low of $59.43 and a 52 week high of $176.69. The firm's 50-day simple moving average is $142.59 and its 200 day simple moving average is $114.61.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. ArcBest had a net margin of 1.38% and a return on equity of 6.15%. The firm had revenue of $998.79 million during the quarter, compared to the consensus estimate of $999.07 million. During the same period last year, the business posted $0.51 earnings per share. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts forecast that ArcBest Corporation will post 6.38 earnings per share for the current year.

ArcBest Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Friday, May 8th. ArcBest's dividend payout ratio (DPR) is presently 19.75%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Truist Financial raised their target price on shares of ArcBest from $145.00 to $165.00 and gave the company a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. upped their price objective on ArcBest from $117.00 to $147.00 and gave the company a "neutral" rating in a research note on Monday, June 8th. Zacks Research raised ArcBest from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 30th. Citigroup initiated coverage on ArcBest in a research note on Wednesday. They set a "market outperform" rating for the company. Finally, Weiss Ratings lowered ArcBest from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $151.85.

More ArcBest News

Here are the key news stories impacting ArcBest this week:

• Positive Sentiment: Zacks said earnings estimate revisions for ArcBest are trending higher, which often supports a stronger stock price when analysts expect improving profitability. Earnings Estimates Rising for ArcBest (ARCB): Will It Gain?
• Positive Sentiment: Truist reportedly raised its price target on ArcBest to $165, and Citizens JMP initiated coverage, adding to the bullish analyst backdrop. ArcBest NASDAQ: ARCB Given New $165.00 Price Target at Truist Financial
• Positive Sentiment: ArcBest announced a simplified brand structure and operational streamlining, with MoLo Solutions, Panther Premium Logistics, and ArcBest Technologies consolidating under the ArcBest name, a move aimed at long-term growth and efficiency. ArcBest Simplifies Brand Structure and Streamlines Operations to Drive Long-Term Growth and Efficiency
• Positive Sentiment: The company also plans to reduce about 2% of its workforce and close 10 LTL terminals, which could lower costs and improve margins if execution goes well. ArcBest to Consolidate Brands, Cut About 2% of Workforce
• Neutral Sentiment: Momentum-focused coverage noted that ArcBest has gained about 5.34% over the past week, reinforcing recent trader interest but not adding a new fundamental catalyst. ArcBest (ARCB) Is Up 5.34% in One Week: What You Should Know
• Neutral Sentiment: Zacks also highlighted ArcBest as a fast-paced momentum stock that may still be reasonably valued, which supports the stock’s current trading interest. ArcBest (ARCB) Shows Fast-paced Momentum But Is Still a Bargain Stock

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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