Impala Asset Management LLC Sells 50,000 Shares of ArcBest Corporation $ARCB

Impala Asset Management LLC cut its position in ArcBest Corporation (NASDAQ:ARCB) by 71.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,000 shares of the transportation company’s stock after selling 50,000 shares during the quarter. ArcBest comprises approximately 0.9% of Impala Asset Management LLC’s holdings, making the stock its 19th biggest position. Impala Asset Management LLC’s holdings in ArcBest were worth $1,967,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ARCB. Federated Hermes Inc. increased its stake in shares of ArcBest by 126.6% during the 4th quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock worth $75,000 after purchasing an additional 567 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of ArcBest by 507.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock valued at $83,000 after purchasing an additional 934 shares during the period. Canada Pension Plan Investment Board acquired a new stake in ArcBest in the 2nd quarter valued at about $85,000. Assetmark Inc. raised its stake in ArcBest by 5,940.0% in the fourth quarter. Assetmark Inc. now owns 1,208 shares of the transportation company’s stock valued at $90,000 after buying an additional 1,188 shares during the period. Finally, KBC Group NV raised its stake in ArcBest by 69.4% in the fourth quarter. KBC Group NV now owns 1,299 shares of the transportation company’s stock valued at $96,000 after buying an additional 532 shares during the period. 99.27% of the stock is currently owned by institutional investors and hedge funds.

ArcBest Stock Performance

NASDAQ:ARCB opened at $159.38 on Thursday. The stock has a market cap of $3.55 billion, a P/E ratio of 65.59, a PEG ratio of 0.59 and a beta of 1.57. The stock has a 50 day simple moving average of $145.30 and a 200 day simple moving average of $116.67. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.10. ArcBest Corporation has a 1-year low of $59.43 and a 1-year high of $176.69.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $998.79 million for the quarter, compared to analyst estimates of $999.07 million. ArcBest had a return on equity of 6.15% and a net margin of 1.38%.The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 EPS. Research analysts anticipate that ArcBest Corporation will post 6.38 earnings per share for the current year.

ArcBest Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were paid a $0.12 dividend. The ex-dividend date was Friday, May 8th. This represents a $0.48 annualized dividend and a dividend yield of 0.3%. ArcBest’s dividend payout ratio is 19.75%.

Analyst Upgrades and Downgrades

ARCB has been the subject of several research analyst reports. The Goldman Sachs Group lifted their target price on ArcBest from $117.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Citizens Jmp started coverage on ArcBest in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $180.00 price target on the stock. Truist Financial raised their price target on ArcBest from $145.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. lifted their price objective on shares of ArcBest from $117.00 to $147.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. Finally, Stifel Nicolaus upped their price objective on shares of ArcBest from $134.00 to $176.00 and gave the company a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $155.08.

ArcBest Profile

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.