ArcBest (NASDAQ:ARCB) Sets New 52-Week Low – Here’s Why

ArcBest Co. (NASDAQ:ARCB)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $90.00 and last traded at $90.19, with a volume of 11454 shares traded. The stock had previously closed at $91.21.

Analyst Ratings Changes

A number of research firms have recently commented on ARCB. Stifel Nicolaus lifted their price target on shares of ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Citigroup lifted their target price on shares of ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Wells Fargo & Company decreased their price target on shares of ArcBest from $105.00 to $96.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price objective on ArcBest from $130.00 to $117.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, UBS Group decreased their target price on ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, ArcBest presently has an average rating of “Hold” and an average target price of $118.91.

ArcBest Price Performance

The company has a fifty day moving average price of $96.78 and a two-hundred day moving average price of $103.40. 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 market cap of $2.07 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 1.90 and a beta of 1.51.

ArcBest (NASDAQ:ARCB) last announced its quarterly 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 net margin of 4.16% and a return on equity of 11.79%. During the same period last year, the firm posted $2.47 EPS. As a group, equities research analysts anticipate that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Tuesday, February 11th. ArcBest’s dividend payout ratio is 6.55%.

Insider Buying and Selling at ArcBest

In related news, Director Craig E. Philip sold 3,900 shares of the business’s stock in a transaction on 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. The trade was a 14.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.65% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning lifted its holdings in ArcBest by 7.6% during the 3rd quarter. Creative Planning now owns 4,933 shares of the transportation company’s stock valued at $535,000 after purchasing an additional 349 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of ArcBest by 15.2% in the third quarter. Sequoia Financial Advisors LLC now owns 4,242 shares of the transportation company’s stock valued at $460,000 after acquiring an additional 561 shares during the last quarter. Moody Aldrich Partners LLC boosted its holdings in shares of ArcBest by 24.3% in the 3rd quarter. Moody Aldrich Partners LLC now owns 42,265 shares of the transportation company’s stock worth $4,584,000 after acquiring an additional 8,250 shares in the last quarter. Mount Yale Investment Advisors LLC grew its position in ArcBest by 14.0% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 2,273 shares of the transportation company’s stock worth $247,000 after acquiring an additional 280 shares during the last quarter. Finally, Heritage Oak Wealth Advisors LLC acquired a new stake in ArcBest during the 3rd quarter valued at $1,448,000. 99.27% of the stock is owned by institutional investors.

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.