ArcBest (NASDAQ:ARCB) Shares Gap Down to $138.08

ArcBest Co. (NASDAQ:ARCB)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $138.08, but opened at $130.02. ArcBest shares last traded at $127.99, with a volume of 63,352 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ARCB. Bank of America upped their price target on shares of ArcBest from $141.00 to $143.00 and gave the company an “underperform” rating in a report on Monday, April 15th. UBS Group upped their price target on shares of ArcBest from $119.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, February 16th. 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. 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. Finally, Stephens upped their price objective on shares of ArcBest from $165.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. One investment 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. Based on data from MarketBeat.com, ArcBest presently has an average rating of “Moderate Buy” and a consensus target price of $151.54.

ArcBest Stock Down 7.4 %

The company’s 50-day moving average is $140.02 and its 200 day moving average is $125.24. The company has a market capitalization of $3.01 billion, a PE ratio of 16.17, a P/E/G ratio of 0.59 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 announced its quarterly earnings data on Tuesday, February 6th. The transportation company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.22 by $0.25. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the firm posted $2.45 EPS. ArcBest’s revenue for the quarter was down 6.4% on a year-over-year basis. As a group, analysts anticipate that ArcBest Co. will post 10.05 EPS for the current year.

ArcBest Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.38%. The ex-dividend date was Thursday, February 15th. ArcBest’s dividend payout ratio is currently 6.07%.

Insider Buying and Selling at ArcBest

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. Company insiders own 1.65% of the company’s stock.

Hedge Funds Weigh In On ArcBest

Several hedge funds and other institutional investors have recently bought and sold shares of ARCB. SG Americas Securities LLC bought a new position in shares of ArcBest in the 3rd quarter worth approximately $141,000. Linden Thomas Advisory Services LLC lifted its stake in shares of ArcBest by 2.4% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 16,284 shares of the transportation company’s stock worth $1,655,000 after purchasing an additional 374 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of ArcBest by 0.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 281,693 shares of the transportation company’s stock worth $28,634,000 after purchasing an additional 1,934 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of ArcBest by 14.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,941 shares of the transportation company’s stock worth $502,000 after purchasing an additional 631 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in shares of ArcBest by 4.2% in the 3rd quarter. Mackenzie Financial Corp now owns 6,114 shares of the transportation company’s stock worth $601,000 after purchasing an additional 244 shares during the period. Institutional investors own 99.27% of the company’s stock.

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.