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

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 traded.

Analyst Ratings Changes

Several analysts have commented on ARCB shares. UBS Group lifted their price target on ArcBest from $119.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, February 16th. The Goldman Sachs Group upped their price target on shares of ArcBest from $133.00 to $149.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Bank of America increased their price target on shares of ArcBest from $141.00 to $143.00 and gave the stock an “underperform” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ArcBest in a research note on Monday, January 29th. They set a “buy” rating and a $148.00 price objective for the company. Finally, TD Cowen increased their target price on ArcBest from $141.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.54.

ArcBest Trading Down 7.4 %

The firm 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 PE ratio of 18.87, a P/E/G ratio of 0.63 and a beta of 1.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.26 and a current 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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.25. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates 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 quarter last year, the firm posted $2.45 earnings per share. Equities research analysts expect that ArcBest Co. will post 10.05 EPS for the current year.

ArcBest Dividend Announcement

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

Insider Buying and Selling

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $141.58, for a total transaction of $283,160.00. Following the completion of the sale, the insider now owns 32,247 shares in the company, valued at approximately $4,565,530.26. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Contravisory Investment Management Inc. lifted its position in shares of ArcBest by 70.9% during the first quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock worth $27,000 after purchasing an additional 78 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of ArcBest by 49.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company’s stock worth $27,000 after acquiring an additional 75 shares in the last quarter. Allworth Financial LP grew its position in shares of ArcBest by 15,450.0% in the 3rd quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock worth $32,000 after acquiring an additional 309 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of ArcBest in the 4th quarter valued at approximately $39,000. Finally, Parallel Advisors LLC raised its position in shares of ArcBest by 45.8% during the 4th quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock valued at $44,000 after acquiring an additional 114 shares in the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

About ArcBest

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.