ArcBest (NASDAQ:ARCB) Sees Strong Trading Volume – Should You Buy?

Shares of ArcBest Co. (NASDAQ:ARCB) saw unusually-high trading volume on Monday . Approximately 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 Analyst Weigh In

ARCB has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Citigroup upped their price objective on ArcBest from $110.00 to $127.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Morgan Stanley dropped their price objective on shares of ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Wells Fargo & Company reduced their target price on ArcBest from $105.00 to $96.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Finally, UBS Group dropped their price target on ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $118.91.

ArcBest Price Performance

The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. The firm’s 50-day moving average price is $95.88 and its two-hundred day moving average price is $103.13. The stock has a market cap of $2.05 billion, a PE ratio of 11.93, a PEG ratio of 1.78 and a beta of 1.51.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same quarter in the previous year, the firm posted $2.47 EPS. On average, equities analysts expect that ArcBest Co. will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The company also recently declared 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. This represents a $0.48 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Tuesday, February 11th. ArcBest’s payout ratio is 6.55%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Mackenzie Financial Corp grew its holdings 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 last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of ArcBest by 3.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 35,270 shares of the transportation company’s stock valued at $3,291,000 after purchasing an additional 1,146 shares during the last quarter. Zimmer Partners LP boosted its position in shares of ArcBest by 23.5% in the 4th quarter. Zimmer Partners LP now owns 105,000 shares of the transportation company’s stock worth $9,799,000 after purchasing an additional 20,000 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in ArcBest by 2.6% during the 4th quarter. Westwood Holdings Group Inc. now owns 635,858 shares of the transportation company’s stock worth $59,338,000 after buying an additional 16,239 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in ArcBest by 147.1% during the 4th quarter. Two Sigma Advisers LP now owns 16,800 shares of the transportation company’s stock valued at $1,568,000 after buying 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.