Kennedy Capital Management LLC Buys 23,497 Shares of ArcBest Co. (NASDAQ:ARCB)

Kennedy Capital Management LLC increased its stake in shares of ArcBest Co. (NASDAQ:ARCB) by 235.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,482 shares of the transportation company’s stock after acquiring an additional 23,497 shares during the quarter. Kennedy Capital Management LLC owned about 0.14% of ArcBest worth $4,771,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC lifted its position in ArcBest by 29.6% during the 4th quarter. SG Americas Securities LLC now owns 1,795 shares of the transportation company’s stock worth $216,000 after buying an additional 410 shares in the last quarter. Advisors Preferred LLC bought a new stake in ArcBest during the 4th quarter worth approximately $1,227,000. Mirae Asset Global Investments Co. Ltd. increased its stake in ArcBest by 4.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,263 shares of the transportation company’s stock worth $1,354,000 after purchasing an additional 511 shares in the last quarter. Wakefield Asset Management LLLP bought a new stake in ArcBest during the 4th quarter worth approximately $806,000. Finally, Sequoia Financial Advisors LLC bought a new position in shares of ArcBest during the 4th quarter worth approximately $448,000. Institutional investors own 99.27% of the company’s stock.

ArcBest Stock Performance

Shares of ARCB stock traded up $3.01 on Tuesday, hitting $124.32. 212,280 shares of the stock were exchanged, compared to its average volume of 300,591. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $2.91 billion, a PE ratio of 24.41, a P/E/G ratio of 0.97 and a beta of 1.48. ArcBest Co. has a one year low of $86.93 and a one year high of $153.60. The firm’s 50 day moving average is $109.63 and its two-hundred day moving average is $124.37.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Tuesday, April 30th. The transportation company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.19). The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. ArcBest had a return on equity of 15.27% and a net margin of 2.80%. The firm’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 EPS. Sell-side analysts expect that ArcBest Co. will post 8.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Morgan Stanley lowered their target price on shares of ArcBest from $180.00 to $176.00 and set an “overweight” rating on the stock in a report on Monday, July 8th. StockNews.com downgraded ArcBest from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Wells Fargo & Company assumed coverage on ArcBest in a research note on Friday, June 7th. They set an “overweight” rating and a $140.00 target price for the company. The Goldman Sachs Group boosted their target price on ArcBest from $133.00 to $149.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Finally, UBS Group lowered their price objective on ArcBest from $150.00 to $126.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, ArcBest currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.85.

About ArcBest

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.