Moody Aldrich Partners LLC Acquires 12,899 Shares of ArcBest Corporation $ARCB

Key Points

• Moody Aldrich Partners increased its ArcBest stake by 45.3% in the third quarter, acquiring 12,899 shares and bringing its total holdings to 41,389 shares valued at approximately $5.3 million.
• Institutional investors own 99.27% of ArcBest, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $153.15.
• ArcBest exceeded quarterly earnings and revenue expectations, reporting $2.38 in EPS and $1.18 billion in revenue, though insiders have sold 12,818 shares worth about $1.79 million over the past 90 days.

Moody Aldrich Partners LLC raised its holdings in ArcBest Corporation (NASDAQ:ARCB - Free Report) by 45.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,389 shares of the transportation company's stock after acquiring an additional 12,899 shares during the period. Moody Aldrich Partners LLC owned approximately 0.19% of ArcBest worth $5,275,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ARCB. BlackRock Inc. purchased a new position in shares of ArcBest during the second quarter worth about $503,476,000. Dimensional Fund Advisors LP lifted its position in ArcBest by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,397,287 shares of the transportation company's stock valued at $137,429,000 after purchasing an additional 47,848 shares during the last quarter. Maple Rock Capital Partners Inc. lifted its position in ArcBest by 32.5% during the second quarter. Maple Rock Capital Partners Inc. now owns 535,746 shares of the transportation company's stock valued at $76,901,000 after purchasing an additional 131,400 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in ArcBest during the second quarter valued at approximately $27,281,000. Finally, Empowered Funds LLC purchased a new position in ArcBest in the 2nd quarter worth approximately $20,787,000. Hedge funds and other institutional investors own 99.27% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ARCB shares. Zacks Research lowered shares of ArcBest from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 5th. UBS Group raised their price objective on shares of ArcBest from $145.00 to $154.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of ArcBest in a report on Tuesday, August 25th. Morgan Stanley lifted their price objective on shares of ArcBest from $150.00 to $180.00 and gave the stock an "overweight" rating in a report on Monday, July 6th. Finally, Citizens Jmp began coverage on shares of ArcBest in a research report on Wednesday, July 15th. They issued a "market outperform" rating and a $180.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $153.15.

Insiders Place Their Bets

In other news, VP Jason T. Parks sold 855 shares of the business's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $135.09, for a total value of $115,501.95. Following the completion of the sale, the vice president directly owned 3,794 shares in the company, valued at approximately $512,531.46. The trade was a 18.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Erin K. Gattis sold 6,163 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $140.00, for a total transaction of $862,820.00. Following the completion of the sale, the insider directly owned 24,286 shares of the company's stock, valued at $3,400,040. This trade represents a 20.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 12,818 shares of company stock valued at $1,793,568. 0.98% of the stock is currently owned by corporate insiders.

ArcBest Price Performance

Shares of ArcBest stock opened at $125.81 on Thursday. The firm has a market capitalization of $2.81 billion, a PE ratio of 182.33, a price-to-earnings-growth ratio of 0.38 and a beta of 1.70. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. ArcBest Corporation has a 12 month low of $59.43 and a 12 month high of $176.69. The business's 50-day moving average price is $132.07 and its 200-day moving average price is $123.87.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its earnings results on Wednesday, July 29th. The transportation company reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $2.26 by $0.12. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. ArcBest had a return on equity of 7.92% and a net margin of 0.39%. ArcBest's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 EPS. Sell-side analysts forecast that ArcBest Corporation will post 7.06 EPS for the current fiscal year.

ArcBest Company Profile

ArcBest Corporation NASDAQ: ARCB is a multibillion-dollar logistics company headquartered in Fort Smith, Arkansas. The company provides freight transportation and supply chain solutions through a combination of asset-based and asset-light operations, serving businesses across North America and supporting select international shipping needs.

Its asset-based business is led by ABF Freight, a less-than-truckload carrier that transports palletized and industrial freight. ArcBest also offers expedited transportation, truckload and brokerage services, intermodal transportation, managed transportation, warehouse and distribution support, and supply chain consulting.

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