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

ArcBest Co. (NASDAQ:ARCB)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $70.53 and last traded at $71.43, with a volume of 95910 shares traded. The stock had previously closed at $72.45.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Wells Fargo & Company cut their target price on ArcBest from $105.00 to $96.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Stifel Nicolaus raised their price target on ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Citigroup decreased their target price on ArcBest from $103.00 to $83.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. UBS Group decreased their price target on ArcBest from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Finally, The Goldman Sachs Group cut their price objective on ArcBest from $126.00 to $108.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $108.33.

ArcBest Price Performance

The firm has a 50 day simple moving average of $88.24 and a 200-day simple moving average of $99.11. The company has a quick ratio of 1.04, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.66 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 1.70 and a beta of 1.54.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, topping 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 quarter last year, the business earned $2.47 EPS. As a group, research analysts predict that ArcBest Co. will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

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 dividend of $0.12 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.67%. ArcBest’s payout ratio is 6.55%.

Insider Transactions at ArcBest

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 stock was purchased at an average price of $74.89 per share, with a total value of $52,423.00. Following the completion of the acquisition, the chief financial officer now directly owns 8,142 shares of the company’s stock, valued at $609,754.38. This trade represents a 9.41 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.65% of the company’s stock.

Institutional Investors Weigh In On ArcBest

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