ArcBest (NASDAQ:ARCB) Trading Down 12.9%

ArcBest Co. (NASDAQ:ARCB)’s share price traded down 12.9% on Tuesday . The stock traded as low as $112.58 and last traded at $112.72. 175,399 shares were traded during mid-day trading, a decline of 42% from the average session volume of 304,269 shares. The stock had previously closed at $129.45.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of ArcBest from $153.00 to $159.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ArcBest in a report on Monday, January 29th. They issued a “buy” rating and a $148.00 target price for the company. Morgan Stanley boosted their price target on shares of ArcBest from $155.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. UBS Group boosted their price target on shares of ArcBest from $119.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. dropped their price target on shares of ArcBest from $168.00 to $164.00 and set an “overweight” rating for the company in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $151.54.

ArcBest Trading Down 16.0 %

The stock has a market capitalization of $2.55 billion, a PE ratio of 14.54, a PEG ratio of 0.55 and a beta of 1.49. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average is $139.77 and its two-hundred day moving average is $125.62.

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

ArcBest Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.44%. ArcBest’s payout ratio is 6.07%.

Insider Activity

In other news, insider Erin K. Gattis sold 2,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $141.58, for a total value of $283,160.00. Following the completion of the sale, the insider now directly owns 32,247 shares of the company’s stock, valued at $4,565,530.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in ArcBest by 49.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Contravisory Investment Management Inc. grew its position in shares of ArcBest by 70.9% in the first quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 78 shares during the last quarter. Horrell Capital Management Inc. grew its position in shares of ArcBest by 0.3% in the fourth quarter. Horrell Capital Management Inc. now owns 29,224 shares of the transportation company’s stock valued at $3,513,000 after purchasing an additional 94 shares during the last quarter. SummerHaven Investment Management LLC grew its position in shares of ArcBest by 1.3% in the fourth quarter. SummerHaven Investment Management LLC now owns 7,572 shares of the transportation company’s stock valued at $910,000 after purchasing an additional 96 shares during the last quarter. Finally, 1492 Capital Management LLC lifted its stake in shares of ArcBest by 1.0% during the fourth quarter. 1492 Capital Management LLC now owns 10,605 shares of the transportation company’s stock valued at $1,275,000 after buying an additional 103 shares during the period. 99.27% of the stock is owned by hedge funds and other institutional investors.

ArcBest Company Profile

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.