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

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

Analyst Ratings Changes

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

ArcBest Stock Down 4.7 %

The business has a 50 day simple moving average of $95.88 and a 200 day simple moving average of $103.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. The stock has a market cap of $2.00 billion, a PE ratio of 11.63, a P/E/G ratio of 1.78 and a beta of 1.51.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, beating 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 company earned $2.47 EPS. On average, equities research analysts forecast that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.48 annualized dividend and a dividend yield of 0.56%. ArcBest’s dividend payout ratio (DPR) is presently 6.55%.

Institutional Trading of ArcBest

Several large investors have recently made changes to their positions in the stock. Mackenzie Financial Corp boosted its stake in shares of ArcBest by 71.0% during the 4th quarter. Mackenzie Financial Corp now owns 15,449 shares of the transportation company’s stock worth $1,442,000 after acquiring an additional 6,412 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of ArcBest by 3.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 35,270 shares of the transportation company’s stock worth $3,291,000 after acquiring an additional 1,146 shares in the last quarter. Zimmer Partners LP boosted its stake in shares of ArcBest by 23.5% during the 4th quarter. Zimmer Partners LP now owns 105,000 shares of the transportation company’s stock worth $9,799,000 after acquiring an additional 20,000 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of ArcBest by 2.6% during the 4th quarter. Westwood Holdings Group Inc. now owns 635,858 shares of the transportation company’s stock worth $59,338,000 after acquiring an additional 16,239 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of ArcBest by 147.1% during the 4th quarter. Two Sigma Advisers LP now owns 16,800 shares of the transportation company’s stock worth $1,568,000 after acquiring an additional 10,000 shares in the last quarter. 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.