ArcBest (NASDAQ:ARCB) Sees Large Volume Increase - Still a Buy?

Shares of ArcBest Co. (NASDAQ:ARCB - Get Free Report) saw strong trading volume on Monday . 559,773 shares changed hands during 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.

Analysts Set New Price Targets

Several research firms recently commented on ARCB. Wells Fargo & Company cut their price objective on shares of ArcBest from $105.00 to $96.00 and set an "equal weight" rating on the stock in a research report on Monday, February 3rd. JPMorgan Chase & Co. cut their price target on ArcBest from $130.00 to $117.00 and set a "neutral" rating on the stock in a report on Monday, November 4th. Citigroup lifted their target price on ArcBest from $110.00 to $127.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. UBS Group cut their target price on ArcBest from $110.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. Finally, Stifel Nicolaus raised their price target on shares of ArcBest from $109.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price 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 has a market capitalization of $1.88 billion, a price-to-earnings ratio of 10.96, a P/E/G ratio of 1.70 and a beta of 1.51. The company's 50 day moving average is $94.59 and its 200-day moving average is $102.70.

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ArcBest (NASDAQ:ARCB - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates 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 period in the previous year, the firm posted $2.47 EPS. Equities research analysts anticipate that ArcBest Co. will post 7 earnings per share for the current year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.48 annualized dividend and a yield of 0.60%. ArcBest's payout ratio is currently 6.55%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its stake in ArcBest by 71.0% in the 4th 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 in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of ArcBest by 3.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 35,270 shares of the transportation company's stock worth $3,291,000 after purchasing an additional 1,146 shares during the period. Zimmer Partners LP boosted its stake in shares of ArcBest by 23.5% in the fourth quarter. Zimmer Partners LP now owns 105,000 shares of the transportation company's stock valued at $9,799,000 after buying an additional 20,000 shares during the period. Westwood Holdings Group Inc. grew its position 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 buying an additional 16,239 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in ArcBest by 147.1% during the 4th quarter. Two Sigma Advisers LP now owns 16,800 shares of the transportation company's stock worth $1,568,000 after acquiring an additional 10,000 shares during the period. 99.27% of the stock is owned by institutional investors and hedge funds.

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.