Caxton Associates LLP Invests $1.19 Million in ArcBest Corporation $ARCB

Caxton Associates LLP acquired a new position in shares of ArcBest Corporation (NASDAQ:ARCB) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 16,914 shares of the transportation company’s stock, valued at approximately $1,194,000.

Other institutional investors have also modified their holdings of the company. Signaturefd LLC lifted its position in shares of ArcBest by 477.6% during the 1st quarter. Signaturefd LLC now owns 387 shares of the transportation company’s stock worth $27,000 after purchasing an additional 320 shares during the last quarter. CWM LLC lifted its position in shares of ArcBest by 338.8% during the 1st quarter. CWM LLC now owns 452 shares of the transportation company’s stock worth $32,000 after purchasing an additional 349 shares during the last quarter. Curat Global LLC purchased a new stake in ArcBest in the first quarter valued at $82,000. GAMMA Investing LLC lifted its position in ArcBest by 185.3% in the first quarter. GAMMA Investing LLC now owns 1,435 shares of the transportation company’s stock valued at $101,000 after acquiring an additional 932 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in ArcBest in the first quarter valued at $143,000. 99.27% of the stock is owned by hedge funds and other institutional investors.

ArcBest Trading Down 5.1%

NASDAQ ARCB opened at $71.52 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $1.63 billion, a PE ratio of 10.64, a P/E/G ratio of 0.87 and a beta of 1.69. ArcBest Corporation has a one year low of $55.19 and a one year high of $123.25. The firm’s fifty day moving average is $76.67 and its two-hundred day moving average is $71.01.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.12). The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. ArcBest had a net margin of 3.90% and a return on equity of 8.67%. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.98 earnings per share. Analysts expect that ArcBest Corporation will post 7 earnings per share for the current year.

ArcBest Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, August 8th. ArcBest’s payout ratio is 7.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group raised shares of ArcBest from a “neutral” rating to a “buy” rating and boosted their price target for the company from $84.00 to $101.00 in a research report on Monday, June 2nd. Jefferies Financial Group reissued a “buy” rating and issued a $85.00 price target (up from $75.00) on shares of ArcBest in a research report on Tuesday, June 10th. Wells Fargo & Company reduced their price target on shares of ArcBest from $90.00 to $80.00 and set an “equal weight” rating for the company in a research report on Thursday, July 31st. Bank of America raised shares of ArcBest from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $63.00 to $74.00 in a research report on Tuesday, June 10th. Finally, Citigroup boosted their price target on shares of ArcBest from $67.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, July 9th. Six research 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.com, the company currently has an average rating of “Hold” and an average price target of $90.00.

ArcBest Company 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.