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

Shares of 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.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ARCB shares. The Goldman Sachs Group raised 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. Deutsche Bank Aktiengesellschaft started coverage on shares of ArcBest in a report on Monday, January 29th. They issued a “buy” rating and a $148.00 price objective for the company. Bank of America lifted their price objective on shares of ArcBest from $141.00 to $143.00 and gave the stock an “underperform” rating in a report on Monday. UBS Group lifted their price objective on shares of ArcBest from $119.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of ArcBest from $168.00 to $164.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $151.54.

ArcBest Trading Down 2.7 %

The company has a market cap of $3.20 billion, a price-to-earnings ratio of 17.22, a P/E/G ratio of 0.64 and a beta of 1.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.26 and a quick ratio of 1.26. The firm’s fifty day moving average price is $140.66 and its 200-day moving average price is $123.38.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Tuesday, February 6th. The transportation company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.25. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the business earned $2.45 earnings per share. The company’s revenue was down 6.4% on a year-over-year basis. On average, equities analysts expect that ArcBest Co. will post 10.05 EPS for the current fiscal year.

ArcBest Announces Dividend

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

Insider Activity at ArcBest

In related news, insider Erin K. Gattis sold 2,000 shares of ArcBest 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 sale, the insider now directly owns 32,247 shares in the company, valued at $4,565,530.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.65% of the company’s stock.

Institutional Investors Weigh In On ArcBest

Several hedge funds and other institutional investors have recently bought and sold shares of ARCB. Cambridge Investment Research Advisors Inc. raised its position in ArcBest by 13.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,737 shares of the transportation company’s stock worth $220,000 after acquiring an additional 314 shares in the last quarter. Citigroup Inc. raised its position in ArcBest by 4.5% in the first quarter. Citigroup Inc. now owns 24,501 shares of the transportation company’s stock worth $1,972,000 after acquiring an additional 1,061 shares in the last quarter. MetLife Investment Management LLC raised its position in ArcBest by 55.3% in the first quarter. MetLife Investment Management LLC now owns 13,678 shares of the transportation company’s stock worth $1,101,000 after acquiring an additional 4,871 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in ArcBest by 10.9% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,438 shares of the transportation company’s stock worth $1,726,000 after acquiring an additional 2,114 shares in the last quarter. Finally, APG Asset Management N.V. bought a new stake in ArcBest in the first quarter worth about $1,461,000. 99.27% of the stock is currently 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.