ArcBest Corp (ARCB) : Horrell Capital Management scooped up 218 additional shares in ArcBest Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 27,000 shares of ArcBest Corp which is valued at $586,170.ArcBest Corp makes up approximately 0.36% of Horrell Capital Management’s portfolio.
ArcBest Corp opened for trading at $22.06 and hit $22.52 on the upside on Wednesday, eventually ending the session at $22.28, with a gain of 1.64% or 0.36 points. The heightened volatility saw the trading volume jump to 2,82,006 shares. Company has a market cap of $574 M.
Other Hedge Funds, Including , Strs Ohio sold out all of its stake in ARCB during the most recent quarter. The investment firm sold 34,200 shares of ARCB which is valued $742,482. First Citizens Bank Trust Co sold out all of its stake in ARCB during the most recent quarter. The investment firm sold 25,979 shares of ARCB which is valued $564,004.New York State Teachers Retirement System boosted its stake in ARCB in the latest quarter, The investment management firm added 3,900 additional shares and now holds a total of 58,186 shares of ArcBest Corp which is valued at $1,263,218.Acadian Asset Management reduced its stake in ARCB by selling 38,097 shares or 22.73% in the most recent quarter. The Hedge Fund company now holds 129,530 shares of ARCB which is valued at $2,726,607. ArcBest Corp makes up approx 0.01% of Acadian Asset Management’s portfolio.
On the company’s financial health, ArcBest Corp reported $0.21 EPS for the quarter, missing the analyst consensus estimate by $ -0.20 based on the information available during the earnings call on Feb 3, 2016. Analyst had a consensus of $0.41. The company had revenue of $648.10 million for the quarter, compared to analysts expectations of $650.24 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.53 EPS.
Many Wall Street Analysts have commented on ArcBest Corp. Stifel Upgraded ArcBest Corp on Feb 4, 2016 to ” Buy”, Price Target of the shares are set at $23.
ArcBest Corporation is a holding company. The Company is a freight transportation services and logistics company. It has five segments: Freight Transportation (ABF Freight) segment Premium Logistics (Panther) formerly named Premium Logistics & Expedited Freight Services Emergency & Preventative Maintenance (FleetNet) Transportation Management (ABF Logistics) and Household Goods Moving Services (ABF Moving). ABF Freight provides interstate and intrastate direct service to approximately 48000 communities through 247 service centers in 50 states Canada and Puerto Rico. Panther is a provider of logistics services. FleetNet provides roadside assistance and maintenance management services. ABF Logistics provides freight brokerage and intermodal transportation services ocean shipping solutions and transportation and warehouse management services. ABF Moving segment provides third-party transportation warehousing and delivery services.