Mount Yale Investment Advisors LLC Has $278,000 Stock Position in ArcBest Co. (NASDAQ:ARCB)

Mount Yale Investment Advisors LLC lowered its stake in ArcBest Co. (NASDAQ:ARCB) by 19.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,949 shares of the transportation company’s stock after selling 470 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in ArcBest were worth $278,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. UniSuper Management Pty Ltd acquired a new position in ArcBest during the first quarter worth approximately $666,000. Jump Financial LLC bought a new stake in shares of ArcBest during the fourth quarter worth approximately $811,000. Norges Bank bought a new stake in shares of ArcBest during the fourth quarter worth approximately $9,298,000. Wakefield Asset Management LLLP bought a new stake in shares of ArcBest during the fourth quarter worth approximately $806,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of ArcBest by 20.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 154,972 shares of the transportation company’s stock worth $18,629,000 after acquiring an additional 26,411 shares during the period. Institutional investors and hedge funds own 99.27% of the company’s stock.

ArcBest Trading Up 1.0 %

Shares of NASDAQ:ARCB traded up $1.16 during midday trading on Monday, hitting $121.31. 190,217 shares of the stock were exchanged, compared to its average volume of 301,204. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 24.18, a P/E/G ratio of 0.97 and a beta of 1.48. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.23 and a current ratio of 1.23. The business’s 50-day moving average price is $109.47 and its 200 day moving average price is $124.35. ArcBest Co. has a 12 month low of $86.93 and a 12 month high of $153.60.

ArcBest (NASDAQ:ARCB) last released 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 business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.58 earnings per share. Analysts predict that ArcBest Co. will post 8.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ARCB. TD Cowen reduced their price objective on ArcBest from $177.00 to $148.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Stifel Nicolaus cut their price target on ArcBest from $159.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Bank of America boosted their price target on ArcBest from $110.00 to $112.00 and gave the company an “underperform” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. cut ArcBest from an “overweight” rating to a “neutral” rating and cut their price target for the company from $145.00 to $127.00 in a research note on Tuesday, July 9th. Finally, Morgan Stanley cut their price target on ArcBest from $180.00 to $176.00 and set an “overweight” rating for the company in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, ArcBest currently has an average 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.