Calamos Advisors LLC Makes New $757,000 Investment in ArcBest Corporation $ARCB

Calamos Advisors LLC purchased a new position in shares of ArcBest Corporation (NASDAQ:ARCB) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 7,692 shares of the transportation company’s stock, valued at approximately $757,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federation des caisses Desjardins du Quebec increased its holdings in shares of ArcBest by 0.4% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 22,995 shares of the transportation company’s stock valued at $1,706,000 after acquiring an additional 100 shares during the period. Seelaus Asset Management LLC grew its position in ArcBest by 3.5% during the 4th quarter. Seelaus Asset Management LLC now owns 3,710 shares of the transportation company’s stock worth $275,000 after purchasing an additional 125 shares during the last quarter. ProShare Advisors LLC increased its stake in ArcBest by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 4,431 shares of the transportation company’s stock valued at $329,000 after purchasing an additional 135 shares during the period. Stephens Inc. AR increased its stake in ArcBest by 2.2% in the fourth quarter. Stephens Inc. AR now owns 6,909 shares of the transportation company’s stock valued at $535,000 after purchasing an additional 150 shares during the period. Finally, LPL Financial LLC raised its holdings in shares of ArcBest by 3.4% in the fourth quarter. LPL Financial LLC now owns 6,345 shares of the transportation company’s stock valued at $471,000 after buying an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

ArcBest Trading Up 6.9%

Shares of ArcBest stock opened at $157.61 on Friday. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 64.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.57. ArcBest Corporation has a 52-week low of $59.43 and a 52-week high of $176.69. The company’s 50-day simple moving average is $141.81 and its 200-day simple moving average is $114.30. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Tuesday, April 28th. The transportation company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $998.79 million for the quarter, compared to analyst estimates of $999.07 million. ArcBest had a return on equity of 6.15% and a net margin of 1.38%.The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.51 EPS. As a group, equities research analysts anticipate that ArcBest Corporation will post 6.11 earnings per share for the current year.

ArcBest Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were paid a $0.12 dividend. The ex-dividend date was Friday, May 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.3%. ArcBest’s payout ratio is 19.75%.

Key ArcBest News

Here are the key news stories impacting ArcBest this week:

• Positive Sentiment: ArcBest announced a simplified brand structure, consolidating MoLo Solutions, Panther Premium Logistics and ArcBest Technologies under the ArcBest name starting Aug. 1, a move aimed at improving efficiency and long-term growth. Article Title
• Positive Sentiment: The company also announced broader operational streamlining, including cutting about 2% of its workforce and eliminating certain open roles, which could support margins and earnings power if execution goes well. Article Title
• Positive Sentiment: Truist raised its price target on ArcBest to $165 from $145 and kept a buy rating, while Citizens JMP initiated coverage with a $180 target and outperform rating, signaling analyst confidence in the company’s outlook. Article Title
• Neutral Sentiment: Recent screening and commentary from Zacks highlighted ArcBest’s strong momentum and relatively attractive valuation, reinforcing the view that investor expectations have improved. Article Title
• Negative Sentiment: The workforce reduction and terminal closures indicate ArcBest is still facing pressure to reduce costs and reorganize parts of its less-than-truckload network, which may reflect a tougher operating backdrop. Article Title

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. TD Cowen increased their target price on shares of ArcBest from $137.00 to $175.00 and gave the stock a “hold” rating in a research note on Tuesday, June 9th. Bank of America upped their price objective on ArcBest from $138.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, June 5th. JPMorgan Chase & Co. increased their price objective on ArcBest from $117.00 to $147.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. Citigroup initiated coverage on ArcBest in a research note on Wednesday. They issued a “market outperform” rating on the stock. Finally, Morgan Stanley boosted their target price on ArcBest from $150.00 to $180.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, ArcBest has a consensus rating of “Moderate Buy” and a consensus price target of $151.85.

ArcBest 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.