1 week Ago By Defense World Staff
Norges Bank bought a new stake in ArcBest Co. ( NASDAQ:ARCB – Free Report ) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 62,428 shares of the transportation company’s stock, valued at approximately $5,826,000.
Norges Bank owned 0.27% of ArcBest at the end of the most recent quarter. Other large investors also recently modified their holdings of the company.
Blue Trust Inc. lifted its position in ArcBest by 146.3% in the 4th quarter.
Blue Trust Inc. now owns 298 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 177 shares in the last quarter. R Squared Ltd bought a new stake in shares of ArcBest in the fourth quarter valued at about $40,000.
Smartleaf Asset Management LLC boosted its position in shares of ArcBest by 471.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company’s stock worth $51,000 after buying an additional 453 shares during the period.
KBC Group NV grew its holdings in shares of ArcBest by 34.9% during the fourth quarter. KBC Group NV now owns 1,148 shares of the transportation company’s stock worth $107,000 after buying an additional 297 shares in the last quarter.
Finally, Cibc World Markets Corp acquired a new stake in ArcBest in the 4th quarter valued at approximately $206,000. 99.27% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades A number of analysts have recently commented on ARCB shares. Truist Financial started coverage on shares of ArcBest in a research report on Thursday, March 13th. They issued a “buy” rating and a $93.
00 price objective on the stock. Wells Fargo & Company reduced their price objective on shares of ArcBest from $96.00 to $80.
00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. UBS Group lowered their target price on ArcBest from $110.00 to $100.
00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Jefferies Financial Group decreased their price target on ArcBest from $120.00 to $95.
00 and set a “buy” rating for the company in a research note on Wednesday. Finally, The Goldman Sachs Group dropped their price objective on ArcBest from $126.00 to $108.
00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.
com, ArcBest presently has a consensus rating of “Hold” and an average target price of $102.67. Insider Activity In related news, CFO John Matthew Beasley purchased 700 shares of the business’s stock in a transaction that occurred on Thursday, March 13th.
The stock was acquired at an average cost of $74.89 per share, for a total transaction of $52,423.00.
Following the completion of the purchase, the chief financial officer now owns 8,142 shares in the company, valued at approximately $609,754.38. This represents a 9.
41 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website . 1.
28% of the stock is currently owned by company insiders. ArcBest Price Performance Shares of ARCB opened at $71.76 on Thursday.
The firm has a market capitalization of $1.66 billion, a PE ratio of 9.79, a PEG ratio of 1.
70 and a beta of 1.62. The company has a debt-to-equity ratio of 0.
10, a current ratio of 1.01 and a quick ratio of 1.04.
The company’s 50-day moving average is $78.78 and its 200-day moving average is $95.14.
ArcBest Co. has a fifty-two week low of $57.80 and a fifty-two week high of $152.
35. ArcBest ( NASDAQ:ARCB – Get Free Report ) last issued its quarterly earnings data on Friday, January 31st. The transportation company reported $1.
33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.22.
ArcBest had a net margin of 4.16% and a return on equity of 11.79%.
During the same quarter in the prior year, the firm earned $2.47 earnings per share. Equities analysts forecast that ArcBest Co.
will post 7 EPS for the current year. ArcBest Dividend Announcement The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were given a dividend of $0.
12 per share. This represents a $0.48 annualized dividend and a yield of 0.
67%. The ex-dividend date was Tuesday, February 11th. ArcBest’s payout ratio is 6.
55%. ArcBest Company Profile ( Free Report ) 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. Featured Stories Five stocks we like better than ArcBest How to Know Which Cryptocurrency to Buy: A Guide for Investors Quantum Computing: The $6.5 Billion Opportunity You Can’t Ignore Do ETFs Pay Dividends? What You Need to Know Are Tariffs Threatening Disney’s Comeback Story? The Top 3 Healthcare Dividend Stocks to Buy and Hold Is Alphabet a Generational Buying Opportunity at These Levels? Receive News & Ratings for ArcBest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcBest and related companies with MarketBeat.
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