ArcBest (NASDAQ:ARCB) Stock Price Down 3.8% – Time to Sell?

ArcBest Corporation (NASDAQ:ARCB)’s share price dropped 3.8% during trading on Wednesday . The stock traded as low as $152.49 and last traded at $153.70. Approximately 55,948 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 352,136 shares. The stock had previously closed at $159.80.

Analyst Upgrades and Downgrades

ARCB has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on shares of ArcBest from $130.00 to $150.00 and gave the company an “equal weight” rating in a research report on Friday, June 5th. JPMorgan Chase & Co. increased their price objective on shares of ArcBest from $117.00 to $147.00 and gave the company a “neutral” rating in a research report on Monday, June 8th. Weiss Ratings lowered shares of ArcBest from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 28th. Bank of America raised their price target on shares of ArcBest from $138.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, June 5th. Finally, Zacks Research raised shares of ArcBest from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, ArcBest currently has an average rating of “Moderate Buy” and a consensus target price of $141.42.

ArcBest Stock Down 3.6%

The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $3.43 billion, a PE ratio of 63.41, a price-to-earnings-growth ratio of 0.74 and a beta of 1.55. The business’s 50-day simple moving average is $128.82 and its 200-day simple moving average is $103.04.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Tuesday, April 28th. The transportation company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. ArcBest had a net margin of 1.38% and a return on equity of 6.15%. The company had revenue of $998.79 million during the quarter, compared to analyst estimates of $999.07 million. During the same period last year, the firm posted $0.51 EPS. ArcBest’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities research analysts anticipate that ArcBest Corporation will post 5.87 EPS for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.48 dividend on an annualized basis and a yield of 0.3%. ArcBest’s dividend payout ratio (DPR) is currently 19.75%.

Hedge Funds Weigh In On ArcBest

Institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its holdings 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 purchasing an additional 143 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of ArcBest by 126.6% during the 4th quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock valued at $75,000 after purchasing an additional 567 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in shares of ArcBest by 507.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock valued at $83,000 after purchasing an additional 934 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of ArcBest during the 2nd quarter valued at approximately $85,000. Finally, Assetmark Inc. increased its holdings in shares of ArcBest by 5,940.0% during the 4th quarter. Assetmark Inc. now owns 1,208 shares of the transportation company’s stock valued at $90,000 after purchasing an additional 1,188 shares in the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

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.