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

ArcBest Co. (NASDAQ:ARCB)’s share 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 trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ARCB shares. The Goldman Sachs Group boosted their price target on ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Morgan Stanley boosted their price objective on ArcBest from $155.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Stifel Nicolaus boosted their price objective on ArcBest from $153.00 to $159.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Finally, Stephens boosted their price objective on ArcBest from $165.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, ArcBest presently has a consensus rating of “Moderate Buy” and an average price target of $151.54.

ArcBest Stock Down 7.4 %

The company has a fifty day moving average of $140.31 and a two-hundred day moving average of $124.90. The company has a market cap of $3.01 billion, a PE ratio of 16.18, a price-to-earnings-growth 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. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. ArcBest had a return on equity of 15.91% and a net margin of 4.41%. ArcBest’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.45 EPS. As a group, analysts anticipate that ArcBest Co. will post 10.05 earnings per share for the current fiscal year.

ArcBest Announces Dividend

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

Insider Transactions at ArcBest

In related news, insider Erin K. Gattis sold 2,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $141.58, for a total transaction of $283,160.00. Following the sale, the insider now owns 32,247 shares of the company’s stock, valued at $4,565,530.26. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.65% of the company’s stock.

Institutional Investors Weigh In On ArcBest

A number of institutional investors have recently added to or reduced their stakes in ARCB. EverSource Wealth Advisors LLC boosted 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 purchasing an additional 75 shares in the last quarter. Contravisory Investment Management Inc. raised its stake in ArcBest by 70.9% in the first quarter. Contravisory Investment Management Inc. now owns 188 shares of the transportation company’s stock valued at $27,000 after buying an additional 78 shares during the last quarter. Allworth Financial LP raised its stake in ArcBest by 15,450.0% in the third quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock valued at $32,000 after buying an additional 309 shares during the last quarter. GAMMA Investing LLC purchased a new stake in ArcBest in the fourth quarter valued at about $39,000. Finally, Parallel Advisors LLC raised its stake in ArcBest by 45.8% in the fourth quarter. Parallel Advisors LLC now owns 363 shares of the transportation company’s stock valued at $44,000 after buying an additional 114 shares during the last quarter. 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.