ArcBest (NASDAQ:ARCB) Shares Down 6.1%

ArcBest Co. (NASDAQ:ARCB) fell 6.1% during trading on Wednesday . The company traded as low as $136.73 and last traded at $137.10. 125,905 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 299,844 shares. The stock had previously closed at $145.95.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ARCB. StockNews.com raised ArcBest from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Stephens increased their price objective on ArcBest from $165.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. UBS Group increased their price objective on ArcBest from $119.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. The Goldman Sachs Group increased their price objective on ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Finally, Bank of America increased their price objective on ArcBest from $141.00 to $143.00 and gave the company an “underperform” rating in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $151.54.

ArcBest Trading Down 7.4 %

The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $140.31 and a 200-day simple moving average of $124.90. The firm has a market cap of $3.01 billion, a P/E ratio of 16.18, a P/E/G ratio of 0.59 and a beta of 1.49.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Tuesday, February 6th. The transportation company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.25. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.09 billion. ArcBest had a return on equity of 15.91% and a net margin of 4.41%. The company’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.45 EPS. On average, equities research analysts expect that ArcBest Co. will post 10.05 EPS for the current fiscal year.

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend was Thursday, February 15th. ArcBest’s dividend payout ratio (DPR) is 6.07%.

Insider Transactions at ArcBest

In related news, insider Erin K. Gattis sold 2,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $141.58, for a total transaction of $283,160.00. Following the completion of the transaction, the insider now owns 32,247 shares in the company, valued at approximately $4,565,530.26. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.65% of the company’s stock.

Institutional Investors Weigh In On ArcBest

A number of institutional investors and hedge funds have recently bought and sold shares of ARCB. SG Americas Securities LLC purchased a new stake in shares of ArcBest in the third quarter worth about $141,000. DAVENPORT & Co LLC boosted its stake in shares of ArcBest by 2.0% in the third quarter. DAVENPORT & Co LLC now owns 16,197 shares of the transportation company’s stock worth $1,646,000 after buying an additional 322 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake in shares of ArcBest by 2.4% in the third quarter. Linden Thomas Advisory Services LLC now owns 16,284 shares of the transportation company’s stock worth $1,655,000 after buying an additional 374 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of ArcBest by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 281,693 shares of the transportation company’s stock worth $28,634,000 after buying an additional 1,934 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of ArcBest by 14.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,941 shares of the transportation company’s stock worth $502,000 after buying an additional 631 shares during the last quarter. 99.27% of the stock is owned by institutional investors.

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.