ArcBest (NASDAQ:ARCB) Sets New 1-Year Low – Should You Sell?

ArcBest Co. (NASDAQ:ARCB) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $92.57 and last traded at $93.62, with a volume of 66897 shares trading hands. The stock had previously closed at $97.58.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Jefferies Financial Group lowered their price objective on ArcBest from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. TD Cowen lowered ArcBest from a “buy” rating to a “hold” rating and reduced their target price for the stock from $131.00 to $114.00 in a report on Monday, October 14th. Bank of America decreased their target price on ArcBest from $102.00 to $99.00 and set an “underperform” rating for the company in a research report on Wednesday, September 4th. Finally, Morgan Stanley dropped their price target on shares of ArcBest from $175.00 to $170.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, ArcBest presently has an average rating of “Hold” and a consensus target price of $124.50.

ArcBest Stock Down 1.0 %

The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 2.56 and a beta of 1.49. The firm has a 50 day simple moving average of $108.17 and a two-hundred day simple moving average of $108.28.

ArcBest (NASDAQ:ARCB) last released 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). ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the business earned $2.31 EPS. The firm’s revenue was down 5.8% compared to the same quarter last year. As a group, sell-side analysts expect that ArcBest Co. will post 6.06 EPS for the current year.

ArcBest Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, November 13th. ArcBest’s dividend payout ratio is currently 5.93%.

Insiders Place Their Bets

In other ArcBest news, Director Craig E. Philip sold 3,900 shares of ArcBest stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $109.91, for a total value of $428,649.00. Following the sale, the director now owns 23,250 shares of the company’s stock, valued at $2,555,407.50. This trade represents a 14.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Michael E. Newcity sold 10,443 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total value of $1,259,425.80. Following the transaction, the senior vice president now directly owns 5,051 shares of the company’s stock, valued at $609,150.60. This represents a 67.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.65% of the company’s stock.

Institutional Investors Weigh In On ArcBest

Several institutional investors have recently bought and sold shares of ARCB. Quarry LP lifted its position in shares of ArcBest by 120.7% in the second quarter. Quarry LP now owns 245 shares of the transportation company’s stock worth $26,000 after purchasing an additional 134 shares in the last quarter. Innealta Capital LLC acquired a new stake in ArcBest in the 2nd quarter valued at $33,000. Quest Partners LLC bought a new stake in ArcBest during the 2nd quarter worth about $36,000. GAMMA Investing LLC boosted its stake in shares of ArcBest by 63.7% during the 3rd quarter. GAMMA Investing LLC now owns 514 shares of the transportation company’s stock worth $56,000 after buying an additional 200 shares during the last quarter. Finally, Avior Wealth Management LLC grew its holdings in shares of 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 acquiring an additional 95 shares in the last quarter. Institutional investors 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.