ArcBest (NASDAQ:ARCB) Trading Down 12.9%

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ArcBest in a research report on Monday, January 29th. They set a “buy” rating and a $148.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on shares of ArcBest from $168.00 to $164.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. UBS Group lifted their price objective on shares of ArcBest from $119.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. TD Cowen lifted their price objective on shares of ArcBest from $141.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, Stephens lifted their price objective on shares of ArcBest from $165.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, ArcBest presently has an average rating of “Moderate Buy” and an average target price of $151.54.

ArcBest Stock Down 16.0 %

The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 14.54, a P/E/G ratio of 0.55 and a beta of 1.49. The firm’s fifty day moving average is $139.77 and its two-hundred day moving average is $125.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.26 and a quick ratio of 1.26.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Tuesday, February 6th. The transportation company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.25. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.09 billion. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.45 earnings per share. On average, sell-side analysts expect that ArcBest Co. will post 10.05 EPS for the current fiscal year.

ArcBest Dividend Announcement

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

Insider Buying and Selling at ArcBest

In other ArcBest 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 approximately $4,565,530.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.18% of the stock is owned by corporate insiders.

Institutional Trading of ArcBest

Hedge funds have recently bought and sold shares of the company. Northern Trust Corp increased its holdings in shares of ArcBest by 9.4% in the 3rd quarter. Northern Trust Corp now owns 458,090 shares of the transportation company’s stock valued at $46,565,000 after purchasing an additional 39,215 shares during the period. American Century Companies Inc. increased its holdings in shares of ArcBest by 10.5% in the 3rd quarter. American Century Companies Inc. now owns 378,206 shares of the transportation company’s stock valued at $38,445,000 after purchasing an additional 35,968 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of ArcBest by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 364,314 shares of the transportation company’s stock valued at $37,033,000 after purchasing an additional 7,094 shares during the period. Cooper Creek Partners Management LLC acquired a new position in shares of ArcBest in the 3rd quarter valued at about $29,108,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of ArcBest by 0.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 281,693 shares of the transportation company’s stock valued at $28,634,000 after purchasing an additional 1,934 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.