Allianz Asset Management GmbH Purchases New Position in ArcBest Corporation $ARCB

Allianz Asset Management GmbH purchased a new stake in ArcBest Corporation (NASDAQ:ARCB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 32,147 shares of the transportation company’s stock, valued at approximately $2,476,000. Allianz Asset Management GmbH owned approximately 0.14% of ArcBest as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ARCB. Nuveen LLC bought a new stake in shares of ArcBest in the 1st quarter valued at approximately $18,460,000. Westwood Holdings Group Inc. grew its stake in shares of ArcBest by 36.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 869,267 shares of the transportation company’s stock valued at $61,353,000 after buying an additional 233,409 shares in the last quarter. Ancora Advisors LLC grew its stake in shares of ArcBest by 1,812.9% in the 1st quarter. Ancora Advisors LLC now owns 204,587 shares of the transportation company’s stock valued at $14,440,000 after buying an additional 193,892 shares in the last quarter. Federated Hermes Inc. bought a new stake in shares of ArcBest in the 1st quarter valued at approximately $9,202,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of ArcBest by 215.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,138 shares of the transportation company’s stock valued at $10,808,000 after buying an additional 104,643 shares in the last quarter. Institutional investors own 99.27% of the company’s stock.

ArcBest Stock Up 1.9%

Shares of ARCB stock opened at $74.56 on Friday. ArcBest Corporation has a 12 month low of $55.19 and a 12 month high of $123.25. The firm has a market cap of $1.69 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 1.36 and a beta of 1.66. The stock has a 50 day moving average of $72.40 and a 200-day moving average of $70.70. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.13.

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

Analysts Set New Price Targets

Several research firms recently weighed in on ARCB. Citigroup upgraded ArcBest from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $79.00 to $89.00 in a report on Wednesday, October 8th. Cowen restated a “hold” rating on shares of ArcBest in a report on Wednesday, October 1st. Zacks Research upgraded ArcBest to a “strong sell” rating in a report on Monday, August 11th. UBS Group boosted their target price on ArcBest from $73.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, September 30th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of ArcBest in a report on Friday. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.