ClearAlpha Technologies LP Invests $810,000 in ArcBest Corporation $ARCB

ClearAlpha Technologies LP acquired a new position in ArcBest Corporation (NASDAQ:ARCB) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 10,913 shares of the transportation company’s stock, valued at approximately $810,000. ArcBest accounts for about 2.3% of ClearAlpha Technologies LP’s portfolio, making the stock its 11th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its stake in shares of ArcBest by 26.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 675 shares of the transportation company’s stock worth $47,000 after purchasing an additional 143 shares during the last quarter. Federated Hermes Inc. increased its position in shares of ArcBest by 126.6% in the fourth quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock worth $75,000 after acquiring an additional 567 shares in the last quarter. Hantz Financial Services Inc. increased its position in shares of ArcBest by 507.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock worth $83,000 after acquiring an additional 934 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of ArcBest in the second quarter worth approximately $85,000. Finally, Assetmark Inc. increased its position in shares of ArcBest by 5,940.0% in the fourth quarter. Assetmark Inc. now owns 1,208 shares of the transportation company’s stock worth $90,000 after acquiring an additional 1,188 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ARCB. UBS Group lifted their target price on shares of ArcBest from $98.00 to $122.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Citigroup raised their price target on shares of ArcBest from $150.00 to $202.00 and gave the stock a “buy” rating in a report on Monday. Morgan Stanley restated an “overweight” rating and set a $150.00 price target on shares of ArcBest in a report on Wednesday, April 29th. The Goldman Sachs Group raised their price target on shares of ArcBest from $102.00 to $117.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, TD Cowen lifted their target price on shares of ArcBest from $137.00 to $175.00 and gave the company a “hold” rating in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, ArcBest has an average rating of “Moderate Buy” and a consensus price target of $141.42.

ArcBest Stock Performance

Shares of ARCB stock opened at $145.85 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $3.25 billion, a PE ratio of 60.02, a price-to-earnings-growth ratio of 0.72 and a beta of 1.55. The stock has a 50-day moving average of $129.67 and a 200-day moving average of $103.62. ArcBest Corporation has a one year low of $59.43 and a one year high of $176.69.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Tuesday, April 28th. The transportation company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. ArcBest had a return on equity of 6.15% and a net margin of 1.38%.The business had revenue of $998.79 million during the quarter, compared to analysts’ expectations of $999.07 million. During the same period in the prior year, the business earned $0.51 EPS. ArcBest’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, sell-side analysts expect that ArcBest Corporation will post 5.87 earnings per share for the current year.

ArcBest Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, May 8th. ArcBest’s dividend payout ratio (DPR) is currently 19.75%.

ArcBest Company Profile

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.