Bryce Point Capital LLC Takes $476,000 Position in ArcBest Corporation $ARCB

Bryce Point Capital LLC purchased a new stake in shares of ArcBest Corporation (NASDAQ:ARCB) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,816 shares of the transportation company’s stock, valued at approximately $476,000.

Other large investors have also recently added to or reduced their stakes in the company. Johnson Investment Counsel Inc. purchased a new position in ArcBest in the third quarter worth approximately $28,000. Smartleaf Asset Management LLC grew its holdings in shares of ArcBest by 26.9% during 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 period. FNY Investment Advisers LLC purchased a new position in shares of ArcBest during the 2nd quarter worth $51,000. Canada Pension Plan Investment Board acquired a new stake in shares of ArcBest during the 2nd quarter worth about $85,000. Finally, Bessemer Group Inc. raised its holdings in ArcBest by 180.9% in the 3rd quarter. Bessemer Group Inc. now owns 1,469 shares of the transportation company’s stock valued at $103,000 after buying an additional 946 shares during the period. 99.27% of the stock is currently owned by institutional investors and hedge funds.

ArcBest Trading Down 2.4%

Shares of ARCB stock opened at $106.06 on Wednesday. ArcBest Corporation has a fifty-two week low of $55.19 and a fifty-two week high of $112.92. The company has a 50 day moving average price of $84.84 and a 200 day moving average price of $75.83. The stock has a market capitalization of $2.39 billion, a P/E ratio of 40.64, a price-to-earnings-growth ratio of 14.22 and a beta of 1.54. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.98 and a current ratio of 0.95.

ArcBest (NASDAQ:ARCB) last released its earnings results on Friday, January 30th. The transportation company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.09). ArcBest had a return on equity of 6.51% and a net margin of 1.50%.The business had revenue of $972.69 million for the quarter, compared to analyst estimates of $963.74 million. During the same quarter last year, the company earned $1.33 earnings per share. ArcBest’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities research analysts predict that ArcBest Corporation will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, February 10th. ArcBest’s dividend payout ratio (DPR) is presently 18.39%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ARCB. Zacks Research raised shares of ArcBest from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Truist Financial boosted their price target on shares of ArcBest from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Weiss Ratings restated a “hold (c-)” rating on shares of ArcBest in a report on Wednesday, January 21st. UBS Group reiterated a “neutral” rating and issued a $98.00 target price on shares of ArcBest in a report on Wednesday, February 4th. Finally, Bank of America boosted their target price on ArcBest from $72.00 to $84.00 and gave the company a “neutral” rating in a research report on Tuesday, December 23rd. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, ArcBest currently has an average rating of “Hold” and an average price target of $97.00.

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.