ArcBest (NASDAQ:ARCB) Shares Gap Up - Time to Buy?

Shares of ArcBest Co. (NASDAQ:ARCB - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $62.69, but opened at $65.59. ArcBest shares last traded at $61.60, with a volume of 56,648 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of ArcBest from $80.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. TD Cowen cut their price objective on shares of ArcBest from $80.00 to $72.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Bank of America upped their price objective on shares of ArcBest from $58.00 to $67.00 and gave the company an "underperform" rating in a research report on Friday, May 16th. Stifel Nicolaus cut their price objective on shares of ArcBest from $102.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Finally, Jefferies Financial Group cut their price objective on shares of ArcBest from $120.00 to $95.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $89.67.

ArcBest Trading Down 0.9%

The company has a market cap of $1.46 billion, a price-to-earnings ratio of 8.69, a price-to-earnings-growth ratio of 1.70 and a beta of 1.70. The company's fifty day moving average price is $63.36 and its two-hundred day moving average price is $83.10. The company has a quick ratio of 1.04, a current ratio of 1.01 and a debt-to-equity ratio of 0.10.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The transportation company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $967.08 million for the quarter, compared to analyst estimates of $990.03 million. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. The business's quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.34 EPS. Research analysts expect that ArcBest Co. will post 7 earnings per share for the current year.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, May 9th. This represents a $0.48 annualized dividend and a dividend yield of 0.75%. ArcBest's dividend payout ratio (DPR) is currently 6.35%.

Insider Activity

In related news, CFO John Matthew Beasley purchased 700 shares of the firm's stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $74.89 per share, with a total value of $52,423.00. Following the completion of the purchase, the chief financial officer now directly owns 8,142 shares of the company's stock, valued at $609,754.38. This trade represents a 9.41% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.28% of the stock is owned by insiders.

Institutional Trading of ArcBest

Hedge funds have recently modified their holdings of the stock. Signaturefd LLC grew its stake in shares of ArcBest by 477.6% during the first quarter. Signaturefd LLC now owns 387 shares of the transportation company's stock valued at $27,000 after purchasing an additional 320 shares during the last quarter. Blue Trust Inc. boosted its stake in ArcBest by 146.3% in the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock valued at $28,000 after acquiring an additional 177 shares during the last quarter. CWM LLC boosted its stake in ArcBest by 338.8% in the first quarter. CWM LLC now owns 452 shares of the transportation company's stock valued at $32,000 after acquiring an additional 349 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in ArcBest by 471.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company's stock valued at $51,000 after acquiring an additional 453 shares during the last quarter. Finally, Curat Global LLC bought a new position in ArcBest in the first quarter valued at approximately $82,000. 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.