3,727 Shares in ArcBest Co. (NASDAQ:ARCB) Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC purchased a new position in ArcBest Co. (NASDAQ:ARCB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,727 shares of the transportation company’s stock, valued at approximately $448,000.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP raised its position in ArcBest by 15,450.0% in the third quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock worth $32,000 after acquiring an additional 309 shares during the period. Point72 Asset Management L.P. bought a new position in ArcBest in the second quarter worth approximately $37,000. Tower Research Capital LLC TRC raised its position in ArcBest by 1,668.9% in the first quarter. Tower Research Capital LLC TRC now owns 796 shares of the transportation company’s stock worth $73,000 after acquiring an additional 751 shares during the period. Ancora Advisors LLC bought a new position in ArcBest in the first quarter worth approximately $56,000. Finally, Point72 Hong Kong Ltd bought a new position in ArcBest in the second quarter worth approximately $58,000. 99.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of ArcBest stock in a transaction on Friday, March 1st. The shares were sold at an average price of $141.58, for a total value of $283,160.00. Following the completion of the transaction, the insider now directly owns 32,247 shares of the company’s stock, valued at approximately $4,565,530.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.18% of the company’s stock.

ArcBest Stock Performance

Shares of NASDAQ:ARCB opened at $140.00 on Thursday. ArcBest Co. has a 52 week low of $82.18 and a 52 week high of $153.60. The stock has a market capitalization of $3.29 billion, a P/E ratio of 17.70, a PEG ratio of 0.63 and a beta of 1.49. The firm has a fifty day simple moving average of $140.66 and a two-hundred day simple moving average of $123.38. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.13.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Tuesday, February 6th. The transportation company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.25. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the company posted $2.45 EPS. The business’s revenue was down 6.4% on a year-over-year basis. On average, analysts expect that ArcBest Co. will post 10.05 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were paid a $0.12 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.34%. ArcBest’s payout ratio is currently 6.07%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Bank of America raised their price objective on shares of ArcBest from $141.00 to $143.00 and gave the company an “underperform” rating in a research report on Monday. Stephens raised their price objective on shares of ArcBest from $165.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. TD Cowen raised their price objective on shares of ArcBest from $141.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. UBS Group raised their price objective on shares of ArcBest from $119.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Finally, Morgan Stanley raised their price objective on shares of ArcBest from $155.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, ArcBest has an average rating of “Moderate Buy” and an average target price of $151.54.

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.