ArcBest (NASDAQ:ARCB) Trading Down 6.2% – What’s Next?

ArcBest Co. (NASDAQ:ARCB)’s stock price was down 6.2% on Friday . The stock traded as low as $84.65 and last traded at $83.91. Approximately 38,917 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 267,481 shares. The stock had previously closed at $89.44.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ARCB shares. Wells Fargo & Company decreased their price target on shares of ArcBest from $105.00 to $96.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their target price on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. UBS Group reduced their target price on shares of ArcBest from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Citigroup lifted their target price on shares of ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus lifted their target price on shares of ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $118.91.

ArcBest Stock Down 3.6 %

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.01. The firm has a market capitalization of $2.02 billion, a PE ratio of 11.75, a P/E/G ratio of 1.82 and a beta of 1.51. The business’s 50 day moving average price is $96.35 and its 200-day moving average price is $103.30.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.11 by $0.22. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. During the same period in the prior year, the business posted $2.47 earnings per share. As a group, equities research analysts forecast that ArcBest Co. will post 7 earnings per share for the current year.

ArcBest Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.48 dividend on an annualized basis and a yield of 0.56%. ArcBest’s payout ratio is 6.55%.

Institutional Investors Weigh In On ArcBest

A number of large investors have recently added to or reduced their stakes in ARCB. State Street Corp boosted its stake in shares of ArcBest by 1.9% during the 3rd quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock worth $103,831,000 after purchasing an additional 17,542 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of ArcBest by 24.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company’s stock worth $24,022,000 after purchasing an additional 43,707 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of ArcBest by 92.3% during the 3rd quarter. Intech Investment Management LLC now owns 10,753 shares of the transportation company’s stock worth $1,166,000 after purchasing an additional 5,161 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of ArcBest by 16.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,672 shares of the transportation company’s stock worth $12,653,000 after purchasing an additional 16,103 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of ArcBest by 342.5% during the 3rd quarter. Barclays PLC now owns 43,134 shares of the transportation company’s stock worth $4,678,000 after purchasing an additional 33,386 shares during the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

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.