Koch Industries Inc. bought a new stake in ArcBest Corp (NASDAQ:ARCB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 7,728 shares of the transportation company’s stock, valued at approximately $276,000.
Several other hedge funds have also modified their holdings of ARCB. ETRADE Capital Management LLC acquired a new position in ArcBest during the 4th quarter worth $210,000. Teacher Retirement System of Texas bought a new position in shares of ArcBest in the 4th quarter worth about $294,000. Stephens Inc. AR bought a new position in shares of ArcBest in the 3rd quarter worth about $299,000. Investors Research Corp bought a new position in shares of ArcBest in the 4th quarter worth about $386,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of ArcBest in the 3rd quarter worth about $414,000. 88.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of ARCB opened at $31.95 on Friday. ArcBest Corp has a 52 week low of $16.95 and a 52 week high of $39.70. The company has a market cap of $848.73, a P/E ratio of 24.02 and a beta of 1.76. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.32.
ArcBest (NASDAQ:ARCB) last posted its earnings results on Wednesday, January 31st. The transportation company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.07. The firm had revenue of $710.72 million during the quarter, compared to analysts’ expectations of $723.69 million. ArcBest had a net margin of 2.11% and a return on equity of 5.82%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 earnings per share. equities research analysts predict that ArcBest Corp will post 2.28 EPS for the current year.
Several analysts recently weighed in on ARCB shares. Stifel Nicolaus downgraded shares of ArcBest from a “hold” rating to a “sell” rating and lifted their price objective for the company from $27.00 to $32.00 in a research report on Wednesday, December 13th. BidaskClub downgraded shares of ArcBest from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Zacks Investment Research upgraded shares of ArcBest from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Tuesday, January 16th. Seaport Global Securities restated a “neutral” rating on shares of ArcBest in a research report on Tuesday, January 16th. Finally, Cowen reaffirmed a “market perform” rating and issued a $39.00 price objective (up previously from $33.00) on shares of ArcBest in a research note on Thursday, February 1st. Nine research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $34.50.
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ArcBest Company Profile
ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).
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