ArcBest (NASDAQ:ARCB) Shares Gap Down to $149.25

Shares of ArcBest Co. (NASDAQ:ARCB) gapped down before the market opened on Wednesday . The stock had previously closed at $149.25, but opened at $146.00. ArcBest shares last traded at $140.43, with a volume of 35,986 shares.

Analyst Ratings Changes

ARCB has been the subject of a number of research reports. The Goldman Sachs Group raised their price target on shares of ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Bank of America upped their price target on ArcBest from $141.00 to $143.00 and gave the company an “underperform” rating in a research note on Monday. Stifel Nicolaus lifted their price objective on ArcBest from $153.00 to $159.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. UBS Group upped their target price on shares of ArcBest from $119.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Finally, Stephens lifted their price target on shares of ArcBest from $165.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.54.

ArcBest Stock Performance

The stock has a fifty day moving average of $140.45 and a 200-day moving average of $122.93. The firm has a market capitalization of $3.25 billion, a P/E ratio of 18.87, a P/E/G ratio of 0.63 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.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results 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 company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.09 billion. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The business’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period last year, the business earned $2.45 EPS. On average, research analysts anticipate that ArcBest Co. will post 10.05 EPS for the current year.

ArcBest Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were given a dividend of $0.12 per share. The ex-dividend date was Thursday, February 15th. This represents a $0.48 annualized dividend and a yield of 0.35%. ArcBest’s dividend payout ratio (DPR) is presently 6.07%.

Insider Transactions at ArcBest

In related news, insider Erin K. Gattis sold 2,000 shares of ArcBest stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $141.58, for a total value of $283,160.00. Following the sale, the insider now owns 32,247 shares of the company’s stock, valued at $4,565,530.26. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.18% of the company’s stock.

Hedge Funds Weigh In On ArcBest

Hedge funds and other institutional investors have recently made changes to their positions in the company. Evergreen Capital Management LLC acquired a new stake in ArcBest in the third quarter valued at $203,000. Schonfeld Strategic Advisors LLC lifted its stake in ArcBest by 385.8% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 26,717 shares of the transportation company’s stock valued at $2,716,000 after purchasing an additional 21,217 shares during the last quarter. Wakefield Asset Management LLLP bought a new position in ArcBest during the fourth quarter worth about $806,000. American Century Companies Inc. increased its position in ArcBest by 10.5% during the third quarter. American Century Companies Inc. now owns 378,206 shares of the transportation company’s stock worth $38,445,000 after buying an additional 35,968 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in ArcBest by 31.3% in the third quarter. Public Employees Retirement System of Ohio now owns 55,199 shares of the transportation company’s stock valued at $5,611,000 after buying an additional 13,165 shares during the period. 99.27% of the stock is owned by 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.