Versor Investments LP Acquires Shares of 4,172 ArcBest Co. (NASDAQ:ARCB)

Versor Investments LP acquired a new stake in shares of ArcBest Co. (NASDAQ:ARCB) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,172 shares of the transportation company’s stock, valued at approximately $447,000.

Several other institutional investors have also bought and sold shares of ARCB. EverSource Wealth Advisors LLC lifted its position in ArcBest by 49.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Contravisory Investment Management Inc. lifted its holdings in shares of ArcBest by 70.9% in the 1st quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock worth $27,000 after acquiring an additional 78 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of ArcBest in the 2nd quarter worth about $33,000. Cultivar Capital Inc. bought a new stake in shares of ArcBest in the 2nd quarter worth about $43,000. Finally, Parallel Advisors LLC lifted its holdings in shares of 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 acquiring an additional 114 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

ArcBest Trading Down 3.0 %

NASDAQ ARCB opened at $102.16 on Thursday. 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 company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. The company’s 50-day simple moving average is $110.84 and its two-hundred day simple moving average is $120.71. ArcBest Co. has a one year low of $86.93 and a one year high of $153.60.

ArcBest (NASDAQ:ARCB) last posted 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 business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.06 billion. ArcBest had a net margin of 2.96% and a return on equity of 15.98%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the business posted $1.54 EPS. Equities analysts forecast that ArcBest Co. will post 7.39 EPS for the current fiscal year.

ArcBest Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Tuesday, August 13th. ArcBest’s dividend payout ratio (DPR) is 9.66%.

Insider Buying and Selling at ArcBest

In other news, Director Salvatore A. Abbate acquired 1,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $103.93 per share, with a total value of $103,930.00. Following the transaction, the director now directly owns 3,650 shares in the company, valued at $379,344.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.65% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ARCB. Stephens restated an “overweight” rating and issued a $130.00 target price on shares of ArcBest in a report on Wednesday. Morgan Stanley lowered their target price on shares of ArcBest from $180.00 to $176.00 and set an “overweight” rating for the company in a report on Monday, July 8th. StockNews.com upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. raised their target price on shares of ArcBest from $127.00 to $134.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Finally, Bank of America reduced their price target on shares of ArcBest from $102.00 to $99.00 and set an “underperform” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.73.

About ArcBest

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.