ArcBest (NASDAQ:ARCB) Trading Down 6.2% – Here’s What Happened

ArcBest Co. (NASDAQ:ARCB)’s stock price was down 6.2% during mid-day trading on Friday . The company traded as low as $84.65 and last traded at $83.91. Approximately 38,917 shares were traded during 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

A number of research analysts recently issued reports on ARCB shares. Morgan Stanley reduced their price objective on ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price objective on ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company reduced their price objective on ArcBest from $105.00 to $96.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. UBS Group reduced their price target on ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Finally, Citigroup boosted their price target on ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $118.91.

ArcBest Stock Down 4.7 %

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 stock has a 50 day moving average price of $95.88 and a 200 day moving average price of $103.13. The company has a market cap of $2.00 billion, a P/E ratio of 11.63, a P/E/G ratio of 1.78 and a beta of 1.51.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same period in the prior year, the firm posted $2.47 EPS. Research analysts expect that ArcBest Co. will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

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

Institutional Trading of ArcBest

Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. raised its stake in shares of ArcBest by 146.3% in the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock worth $28,000 after buying an additional 177 shares in the last quarter. R Squared Ltd acquired a new stake in shares of ArcBest during the fourth quarter worth $40,000. Smartleaf Asset Management LLC raised its position in shares of ArcBest by 471.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company’s stock worth $51,000 after purchasing an additional 453 shares during the period. Quest Partners LLC raised its position in shares of ArcBest by 60.6% during the third quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock worth $59,000 after purchasing an additional 206 shares during the period. Finally, Avior Wealth Management LLC raised its position in shares of ArcBest by 17.9% during the third quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock worth $68,000 after purchasing an additional 95 shares during the period. Institutional investors own 99.27% of the company’s stock.

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.