ArcBest (NASDAQ:ARCB) Sets New 1-Year Low – What’s Next?

ArcBest Co. (NASDAQ:ARCB) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $91.00 and last traded at $91.00, with a volume of 689 shares. The stock had previously closed at $93.14.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ARCB. Citigroup lifted their price objective on shares of ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. The Goldman Sachs Group cut their price target on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Jefferies Financial Group cut their price target on shares of ArcBest from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. dropped their price objective on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Finally, Morgan Stanley dropped their price objective on shares of ArcBest from $175.00 to $170.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $124.50.

ArcBest Stock Performance

The company has a 50-day moving average price of $104.86 and a two-hundred day moving average price of $106.80. The stock has a market capitalization of $2.35 billion, a P/E ratio of 12.41, a PEG ratio of 2.56 and a beta of 1.53. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.20). The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.07 billion. ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the company posted $2.31 earnings per share. Equities analysts expect that ArcBest Co. will post 6.06 earnings per share for the current year.

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Wednesday, November 13th. ArcBest’s dividend payout ratio (DPR) is 5.93%.

Insider Buying and Selling

In other ArcBest news, SVP Michael E. Newcity sold 10,443 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the transaction, the senior vice president now directly owns 5,051 shares in the company, valued at $609,150.60. This trade represents a 67.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Craig E. Philip sold 3,900 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total transaction of $428,649.00. Following the transaction, the director now owns 23,250 shares in the company, valued at $2,555,407.50. The trade was a 14.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp boosted its stake in shares of ArcBest by 1.9% during the third quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock valued at $103,831,000 after purchasing an additional 17,542 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of ArcBest by 24.6% during the third quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company’s stock valued at $24,022,000 after purchasing an additional 43,707 shares during the period. Intech Investment Management LLC boosted its stake in shares of ArcBest by 92.3% during the third quarter. Intech Investment Management LLC now owns 10,753 shares of the transportation company’s stock valued at $1,166,000 after purchasing an additional 5,161 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of ArcBest by 16.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,672 shares of the transportation company’s stock valued at $12,653,000 after purchasing an additional 16,103 shares during the period. Finally, Barclays PLC boosted its stake in shares of ArcBest by 342.5% during the third quarter. Barclays PLC now owns 43,134 shares of the transportation company’s stock valued at $4,678,000 after purchasing an additional 33,386 shares during the period. 99.27% of the stock is currently owned by institutional investors.

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.