Linden Thomas Advisory Services LLC Purchases 7,671 Shares of ArcBest Corporation $ARCB

Key Points

• Linden Thomas Advisory Services LLC increased its stake in ArcBest Corporation by 40.8%, acquiring an additional 7,671 shares for a total of 26,459 shares now valued at approximately $2.038 million.
• Analysts show mixed opinions about ArcBest, with Citigroup upgrading the stock to a "buy" rating and raising its price target from $79 to $89, while others like Stifel Nicolaus have decreased their target price to $81.
• ArcBest's stock, trading at $74.56, has a 52-week high of $123.25, and its most recent earnings report showed a decrease in revenue by 5.1% year-over-year, reporting earnings per share of $1.36.

Linden Thomas Advisory Services LLC increased its stake in ArcBest Corporation (NASDAQ:ARCB - Free Report) by 40.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,459 shares of the transportation company's stock after purchasing an additional 7,671 shares during the period. Linden Thomas Advisory Services LLC owned 0.12% of ArcBest worth $2,038,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ARCB. GAMMA Investing LLC raised its position in ArcBest by 185.3% in the 1st quarter. GAMMA Investing LLC now owns 1,435 shares of the transportation company's stock worth $101,000 after purchasing an additional 932 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in ArcBest in the 1st quarter worth approximately $381,000. Teacher Retirement System of Texas raised its position in ArcBest by 73.3% in the 1st quarter. Teacher Retirement System of Texas now owns 5,529 shares of the transportation company's stock worth $390,000 after purchasing an additional 2,339 shares during the last quarter. Principal Financial Group Inc. raised its position in ArcBest by 1.9% in the 1st quarter. Principal Financial Group Inc. now owns 116,304 shares of the transportation company's stock worth $8,209,000 after purchasing an additional 2,115 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in ArcBest by 7.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 40,522 shares of the transportation company's stock worth $2,860,000 after purchasing an additional 2,925 shares during the last quarter. Institutional investors own 99.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Citigroup upgraded shares of ArcBest from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $79.00 to $89.00 in a research report on Wednesday, October 8th. Stifel Nicolaus dropped their target price on shares of ArcBest from $93.00 to $81.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. JPMorgan Chase & Co. upped their target price on shares of ArcBest from $85.00 to $87.00 and gave the company a "neutral" rating in a research report on Wednesday, October 8th. Cowen reiterated a "hold" rating on shares of ArcBest in a research report on Wednesday, October 1st. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of ArcBest in a research report on Friday. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $90.00.

ArcBest Price Performance

Shares of ARCB stock opened at $74.56 on Friday. ArcBest Corporation has a 12-month low of $55.19 and a 12-month high of $123.25. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 1.38 and a beta of 1.66. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average of $72.40 and a 200-day moving average of $70.78.

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

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.

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