Shares of the company are trading at $21.75 just a bit higher than the 50 day moving average of $19.33 and a tad below the 200 day moving average of $25.92. The 50 day moving average was up $2.42 or +12.51% and the 200 day average was down $-4.17. (NASDAQ:ARCB) shares saw light trading volume with 261K shares changing hands in the last trading session. Trading volume was down 19.51% under the stocks average daily volume.
Investors are a little more bullish on ArcBest Corporation recently if you take note of the motion in short interest. The stock saw a fall in short interest of -20.63% as of the latest report on May 31, 2017. Short interest decreased from 567,224 to 450,202 over that period. Days to cover increased from 1.7 to 2.0 and the short interest percentage is 0.02% as of May 31.
There has been some selling insider activity on ArcBest Corporation (NASDAQ:ARCB) recently. Chief Sales Officer James David Darter sold 76 shares at a price of $30.01 on Fri the 24th. Darter now owns $453,151 of stock as reported to the SEC. Walter J. Echols, VP – Real Estate sold $320,748 worth of shares at an average price of $33.19 on December 8th. That brings the VP – Real Estate’s holdings to $1,304,367 per an SEC filing yesterday.
VP – Gen Counsel & Corp Sec Michael R. Johns sold 5,000 shares at an average price of $32.35 on Wed the 7th. That brings Johns’s holdings to $1,119,439 as recorded in a recent Form 4 SEC filing.
Here are a few additional firms who have increased or decreased their stake in (ARCB). As of the end of the quarter Capstone Asset Management Co had disposed of a total of 310 shares trimming its holdings by 2.7%. The value of the investment in (ARCB) went from $302,000 to $233,000 decreasing 22.8% for the reporting period. As of quarter end Tower Research Capital LLC (trc) had bought 43 shares growing its position 286.7%. The value of the total investment in ArcBest Corporation increased from $0 to $2,000 a change of 0.0% quarter to quarter.
As of the end of the quarter Goldman Sachs Group Inc had acquired 86 shares growing its stake by 0.3%. The value of the investment in ArcBest Corporation went from $835,000 to $787,000 a change of $48,000 since the last quarter. Numeric Investors LLC augmented its ownership by buying 583,500 shares an increase of 234.7%. Numeric Investors LLC now controls 832,124 shares valued at $21,635,000. The total value of its holdings increased 357.5%.
On November 4 the stock rating was upgraded to “Neutral” from “Underperform” in an announcement from Bank of America. September 8 investment analysts at Citigroup held the company rating at “Neutral” and moved up the price target from $17.00 to $20.00.
On July 20 Deutsche Bank made no change to the company rating of “Hold” but lowered the price target to $20.00 from $22.00. July 11 investment analysts at Citigroup left the company rating at “Neutral” and lowered the price target to $17.00 from $20.00.
On May 2 the company was downgraded from “Buy” to “Hold” in a report from Stifel Nicolaus. February 22 investment analysts at Bank of America kept the stock rating at “Underperform” but raised the price expectation from $16.00 to $17.00.
The company is up since yesterday’s close of $21.6. ArcBest Corporation also announced a dividend for shareholders which was paid on Tuesday the 30th of May 2017. The dividend was $0.080 per share for the quarter or $0.32 on an annualized basis. The dividend yield was $1.48. The ex-dividend date was set for Friday the 12th of May 2017.
The P/E ratio is currently 33.05 and market capitalization is 561.91M. As of the last earnings report the EPS was $0.66 and is projected to be $1.19 for the current year with 25,835,000 shares currently outstanding. Next quarter’s EPS is forecasted to be $0.61 with next year’s EPS anticipated to be $1.60.
ArcBest Corporation, launched on August 23, 1988, is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc. (ABF Freight) and certain other subsidiaries; ArcBest, which represents the consolidation of the operations of the former Premium Logistics (Panther), Transportation Management (ABF Logistics) and Household Goods Moving Services (ABF Moving) segments, and FleetNet, which includes the results of operations of FleetNet America, Inc. (FleetNet). The Company offers its products and services under ArcBest, ABF Freight, FleetNet America, Panther Premium Logistics, U-Pack and The Skill & The Will brands, among others..