ArcBest (NASDAQ:ARCB) Sees Strong Trading Volume – Here’s What Happened

ArcBest Co. (NASDAQ:ARCB) saw strong trading volume on Monday . 559,773 shares traded hands during mid-day trading, an increase of 97% from the previous session’s volume of 283,486 shares.The stock last traded at $86.61 and had previously closed at $85.27.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ARCB shares. Citigroup raised their price target on shares of ArcBest from $110.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Wells Fargo & Company decreased their target price on ArcBest from $105.00 to $96.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Stifel Nicolaus lifted their price target on ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Morgan Stanley decreased their price objective on shares of ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their target price on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, ArcBest currently has an average rating of “Hold” and an average price target of $118.91.

ArcBest Stock Performance

The business has a 50 day moving average price of $95.88 and a two-hundred day moving average price of $103.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.01. The company has a market cap of $2.05 billion, a P/E ratio of 11.93, a price-to-earnings-growth ratio of 1.78 and a beta of 1.51.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.22. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. During the same period in the previous year, the business earned $2.47 EPS. On average, sell-side analysts anticipate that ArcBest Co. will post 7 earnings per share for the current year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, February 11th. This represents a $0.48 annualized dividend and a yield of 0.55%. ArcBest’s payout ratio is 6.55%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp grew its stake in ArcBest by 71.0% in the fourth quarter. Mackenzie Financial Corp now owns 15,449 shares of the transportation company’s stock worth $1,442,000 after purchasing an additional 6,412 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of ArcBest by 3.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 35,270 shares of the transportation company’s stock worth $3,291,000 after acquiring an additional 1,146 shares in the last quarter. Zimmer Partners LP lifted its position in ArcBest by 23.5% during the 4th quarter. Zimmer Partners LP now owns 105,000 shares of the transportation company’s stock valued at $9,799,000 after acquiring an additional 20,000 shares during the period. Westwood Holdings Group Inc. boosted its stake in ArcBest by 2.6% during the fourth quarter. Westwood Holdings Group Inc. now owns 635,858 shares of the transportation company’s stock worth $59,338,000 after acquiring an additional 16,239 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of ArcBest by 147.1% during the fourth quarter. Two Sigma Advisers LP now owns 16,800 shares of the transportation company’s stock valued at $1,568,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors own 99.27% of the company’s stock.

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.