ArcBest (NASDAQ:ARCB) Trading Down 12.9%

Shares of ArcBest Co. (NASDAQ:ARCB - Get Free Report) traded down 12.9% on Tuesday . The stock traded as low as $112.58 and last traded at $112.72. 175,399 shares were traded during trading, a decline of 42% from the average session volume of 304,269 shares. The stock had previously closed at $129.45.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. JPMorgan Chase & Co. decreased their price target on ArcBest from $168.00 to $164.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 9th. UBS Group raised their target price on ArcBest from $119.00 to $150.00 and gave the stock a "neutral" rating in a research note on Friday, February 16th. Deutsche Bank Aktiengesellschaft initiated coverage on ArcBest in a report on Monday, January 29th. They issued a "buy" rating and a $148.00 price objective for the company. Morgan Stanley boosted their price objective on shares of ArcBest from $155.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, February 7th. Finally, Stifel Nicolaus lifted their target price on shares of ArcBest from $153.00 to $159.00 and gave the company a "buy" rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, ArcBest has an average rating of "Moderate Buy" and an average price target of $151.54.

ArcBest Stock Down 14.3 %

The company has a market capitalization of $2.61 billion, a PE ratio of 14.54, a P/E/G ratio of 0.55 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. The company's 50-day moving average is $139.77 and its 200 day moving average is $125.62.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The transportation company reported $2.47 EPS for the quarter, beating analysts' consensus estimates of $2.22 by $0.25. The firm had revenue of $1.09 billion for the quarter, compared to analysts' expectations of $1.09 billion. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The business's revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.45 earnings per share. As a group, analysts anticipate that ArcBest Co. will post 10.05 EPS for the current year.

ArcBest Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Thursday, May 9th. ArcBest's payout ratio is currently 6.07%.

Insider Buying and Selling

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $141.58, for a total transaction of $283,160.00. Following the transaction, the insider now owns 32,247 shares in the company, valued at approximately $4,565,530.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ArcBest

Several hedge funds and other institutional investors have recently modified their holdings of ARCB. EverSource Wealth Advisors LLC increased its position in ArcBest by 49.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 227 shares of the transportation company's stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. Contravisory Investment Management Inc. increased its position in shares of ArcBest by 70.9% during the 1st quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company's stock valued at $27,000 after purchasing an additional 78 shares during the last quarter. Horrell Capital Management Inc. boosted its holdings in shares of ArcBest by 0.3% in the fourth quarter. Horrell Capital Management Inc. now owns 29,224 shares of the transportation company's stock worth $3,513,000 after buying an additional 94 shares during the last quarter. SummerHaven Investment Management LLC grew its position in ArcBest by 1.3% during the fourth quarter. SummerHaven Investment Management LLC now owns 7,572 shares of the transportation company's stock valued at $910,000 after buying an additional 96 shares during the period. Finally, 1492 Capital Management LLC increased its holdings in ArcBest by 1.0% during the fourth quarter. 1492 Capital Management LLC now owns 10,605 shares of the transportation company's stock valued at $1,275,000 after buying an additional 103 shares during the last quarter. 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.