Moody Aldrich Partners LLC Sells 603 Shares of ArcBest Corporation $ARCB

Moody Aldrich Partners LLC lowered its holdings in shares of ArcBest Corporation (NASDAQ:ARCB) by 1.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 39,236 shares of the transportation company’s stock after selling 603 shares during the period. Moody Aldrich Partners LLC’s holdings in ArcBest were worth $3,022,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Crossmark Global Holdings Inc. lifted its holdings in ArcBest by 7.1% during the 1st quarter. Crossmark Global Holdings Inc. now owns 4,303 shares of the transportation company’s stock worth $304,000 after buying an additional 285 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of ArcBest in the first quarter valued at about $381,000. GAMMA Investing LLC raised its position in shares of ArcBest by 185.3% during the first quarter. GAMMA Investing LLC now owns 1,435 shares of the transportation company’s stock worth $101,000 after acquiring an additional 932 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of ArcBest by 23.4% in the second quarter. Public Employees Retirement System of Ohio now owns 41,971 shares of the transportation company’s stock worth $3,232,000 after acquiring an additional 7,955 shares during the period. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in ArcBest in the second quarter valued at approximately $355,000. Institutional investors own 99.27% of the company’s stock.

Wall Street Analyst Weigh In

ARCB has been the subject of several analyst reports. Wells Fargo & Company lowered their price target on shares of ArcBest from $90.00 to $80.00 and set an “equal weight” rating for the company in a report on Thursday, July 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of ArcBest in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of ArcBest from $85.00 to $87.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. UBS Group increased their price target on ArcBest from $73.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, September 30th. Finally, Zacks Research raised ArcBest to a “strong sell” rating in a research report on Monday, August 11th. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $90.33.

ArcBest Trading Down 1.7%

NASDAQ:ARCB opened at $71.05 on Friday. ArcBest Corporation has a 12 month low of $55.19 and a 12 month high of $123.25. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 1.35 and a beta of 1.66. The firm has a fifty day simple moving average of $72.48 and a two-hundred day simple moving average of $70.94.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.12). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. ArcBest had a net margin of 3.90% and a return on equity of 8.67%. ArcBest’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.98 EPS. Analysts expect that ArcBest Corporation will post 7 EPS for the current fiscal year.

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.