ArcBest (NASDAQ:ARCB) Stock Price Down 7% – Here’s Why
by Tristan Rich · The Markets DailyShares of ArcBest Corporation (NASDAQ:ARCB – Get Free Report) traded down 7% on Friday . The stock traded as low as $92.68 and last traded at $92.74. 38,814 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 369,156 shares. The stock had previously closed at $99.71.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the company. Stifel Nicolaus lowered their price target on ArcBest from $96.00 to $94.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. Truist Financial increased their price target on shares of ArcBest from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. Citigroup upped their price objective on shares of ArcBest from $104.00 to $105.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Stephens set a $85.00 target price on ArcBest in a report on Tuesday, January 6th. Finally, Wells Fargo & Company increased their price objective on ArcBest from $74.00 to $85.00 and gave the company an “equal weight” rating in a report on Sunday, February 1st. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, ArcBest presently has a consensus rating of “Hold” and a consensus target price of $97.00.
Read Our Latest Stock Analysis on ArcBest
ArcBest Stock Performance
The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $2.06 billion, a P/E ratio of 35.37, a P/E/G ratio of 0.75 and a beta of 1.48. The firm has a 50 day moving average of $94.29 and a two-hundred day moving average of $79.24.
ArcBest (NASDAQ:ARCB – Get Free Report) last released its earnings results on Friday, January 30th. The transportation company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.09). ArcBest had a net margin of 1.50% and a return on equity of 6.51%. During the same quarter last year, the firm earned $1.33 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, research analysts predict that ArcBest Corporation will post 7 EPS for the current fiscal year.
ArcBest Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, February 10th. ArcBest’s dividend payout ratio (DPR) is presently 18.39%.
Institutional Investors Weigh In On ArcBest
Institutional investors have recently bought and sold shares of the business. Johnson Investment Counsel Inc. bought a new stake in ArcBest in the 3rd quarter valued at $28,000. Smartleaf Asset Management LLC boosted its position in shares of ArcBest by 26.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 675 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 143 shares in the last quarter. Federated Hermes Inc. increased its stake in ArcBest by 126.6% in the fourth quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock valued at $75,000 after acquiring an additional 567 shares during the period. Canada Pension Plan Investment Board acquired a new position in ArcBest in the second quarter worth about $85,000. Finally, Hantz Financial Services Inc. lifted its stake in ArcBest by 507.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock worth $83,000 after purchasing an additional 934 shares during the period. Institutional investors and hedge funds own 99.27% of the company’s stock.
ArcBest Company Profile
ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.
The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.