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

ArcBest Co. (NASDAQ:ARCB) reached a new 52-week low during trading on Tuesday . The stock traded as low as $74.05 and last traded at $74.54, with a volume of 429342 shares. The stock had previously closed at $78.77.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Stifel Nicolaus increased their price target on shares of ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Citigroup lifted their price target on shares of ArcBest from $110.00 to $127.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Morgan Stanley decreased their price objective on ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Wells Fargo & Company cut 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ArcBest presently has a consensus rating of “Hold” and a consensus target price of $118.91.

ArcBest Trading Down 5.4 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. The firm has a market cap of $1.74 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 1.70 and a beta of 1.51. The company’s 50 day moving average price is $93.92 and its 200 day moving average price is $102.32.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.11 by $0.22. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. During the same period in the previous year, the firm posted $2.47 earnings per share. As a group, analysts forecast that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.48 annualized dividend and a yield of 0.64%. ArcBest’s payout ratio is 6.55%.

Institutional Investors Weigh In On ArcBest

A number of hedge funds have recently bought and sold shares of ARCB. OneDigital Investment Advisors LLC increased its stake in shares of ArcBest by 3.5% during the third quarter. OneDigital Investment Advisors LLC now owns 2,509 shares of the transportation company’s stock worth $272,000 after buying an additional 86 shares during the period. Avior Wealth Management LLC grew its holdings in ArcBest by 17.9% during the 3rd quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock worth $68,000 after acquiring an additional 95 shares in the last quarter. Arizona State Retirement System grew its holdings in ArcBest by 1.6% during the 4th quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company’s stock worth $640,000 after acquiring an additional 108 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of ArcBest by 4.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,225 shares of the transportation company’s stock valued at $350,000 after purchasing an additional 124 shares during the last quarter. Finally, Summit Investment Advisors Inc. raised its holdings in shares of ArcBest by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company’s stock valued at $230,000 after purchasing an additional 157 shares in the last quarter. 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.