ArcBest (NASDAQ:ARCB) Hits New 12-Month Low – Here’s Why

ArcBest Co. (NASDAQ:ARCB)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $70.53 and last traded at $71.43, with a volume of 95910 shares changing hands. The stock had previously closed at $72.45.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. The Goldman Sachs Group decreased their price target on ArcBest from $126.00 to $108.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Citigroup decreased their price target on ArcBest from $103.00 to $83.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Morgan Stanley reduced their target price on ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a research note 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 for the company in a research note on Monday, February 3rd. Finally, Stifel Nicolaus upped their target price on 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 issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $108.33.

ArcBest Trading Down 0.2 %

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 company has a fifty day simple moving average of $88.24 and a 200-day simple moving average of $99.11. The company has a market capitalization of $1.66 billion, a PE ratio of 9.78, a PEG ratio of 1.70 and a beta of 1.54.

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, 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 period in the previous year, the company posted $2.47 earnings per share. Analysts predict that ArcBest Co. will post 7 EPS for the current year.

ArcBest Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Tuesday, February 11th. ArcBest’s dividend payout ratio (DPR) is presently 6.55%.

Insider Activity

In other news, CFO John Matthew Beasley bought 700 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of $74.89 per share, with a total value of $52,423.00. Following the purchase, the chief financial officer now owns 8,142 shares in the company, valued at approximately $609,754.38. The trade was a 9.41 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.65% of the company’s stock.

Hedge Funds Weigh In On ArcBest

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in ArcBest by 146.3% during the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock worth $28,000 after acquiring an additional 177 shares in the last quarter. R Squared Ltd acquired a new stake in ArcBest in the 4th quarter valued at about $40,000. Quest Partners LLC raised its position in ArcBest by 60.6% in the 3rd quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock valued at $59,000 after purchasing an additional 206 shares in the last quarter. Smartleaf Asset Management LLC raised its position in ArcBest by 471.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 453 shares in the last quarter. Finally, Avior Wealth Management LLC raised its position in ArcBest by 17.9% in the 3rd quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock valued at $68,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.

About ArcBest

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.