ArcBest Co. (NASDAQ:ARCB) Shares Purchased by Evergreen Capital Management LLC

Evergreen Capital Management LLC grew its stake in shares of ArcBest Co. (NASDAQ:ARCB) by 9.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,200 shares of the transportation company’s stock after acquiring an additional 181 shares during the quarter. Evergreen Capital Management LLC’s holdings in ArcBest were worth $236,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Contravisory Investment Management Inc. boosted its position in ArcBest by 70.9% in the first quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock valued at $27,000 after buying an additional 78 shares during the last quarter. Innealta Capital LLC purchased a new stake in ArcBest in the second quarter valued at approximately $33,000. Quest Partners LLC purchased a new stake in ArcBest in the second quarter valued at approximately $36,000. Parallel Advisors LLC boosted its position in ArcBest by 45.8% in the 4th quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock worth $44,000 after purchasing an additional 114 shares in the last quarter. Finally, Cultivar Capital Inc. purchased a new stake in ArcBest in the 2nd quarter worth approximately $43,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

Insider Activity at ArcBest

In related news, Director Salvatore A. Abbate purchased 1,000 shares of ArcBest stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $103.93 per share, with a total value of $103,930.00. Following the completion of the transaction, the director now directly owns 3,650 shares in the company, valued at $379,344.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.65% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ARCB has been the topic of several recent research reports. StockNews.com lowered ArcBest from a “buy” rating to a “hold” rating in a research report on Wednesday. TD Cowen decreased their target price on ArcBest from $136.00 to $131.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Morgan Stanley decreased their target price on ArcBest from $180.00 to $176.00 and set an “overweight” rating on the stock in a research report on Monday, July 8th. JPMorgan Chase & Co. decreased their target price on ArcBest from $134.00 to $133.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Finally, Bank of America decreased their target price on ArcBest from $102.00 to $99.00 and set an “underperform” rating on the stock in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $133.18.

ArcBest Stock Performance

Shares of ARCB opened at $109.30 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.19 and a current ratio of 1.19. The stock has a 50-day simple moving average of $108.88 and a 200-day simple moving average of $116.78. The stock has a market capitalization of $2.56 billion, a PE ratio of 21.99, a PEG ratio of 1.37 and a beta of 1.46. ArcBest Co. has a 1 year low of $86.93 and a 1 year high of $153.60.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Friday, August 2nd. The transportation company reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.05). The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. ArcBest had a return on equity of 15.98% and a net margin of 2.96%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.54 EPS. On average, analysts predict that ArcBest Co. will post 7.21 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.44%. ArcBest’s dividend payout ratio (DPR) is presently 9.66%.

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.