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

Shares of ArcBest Co. (NASDAQ:ARCB) hit a new 52-week low during 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.

Analyst Ratings Changes

A number of brokerages recently commented on ARCB. Wells Fargo & Company dropped their price target on ArcBest from $115.00 to $105.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. UBS Group dropped their price target on ArcBest from $111.00 to $110.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Morgan Stanley dropped their price target on ArcBest from $175.00 to $170.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. TD Cowen lowered ArcBest from a “buy” rating to a “hold” rating and dropped their price target for the stock from $131.00 to $114.00 in a research note on Monday, October 14th. Finally, StockNews.com raised ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, October 3rd. One research 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $124.50.

ArcBest Price Performance

The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. The firm has a fifty 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 P/E/G ratio of 2.56 and a beta of 1.53.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results 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 net margin of 4.54% and a return on equity of 14.27%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the business earned $2.31 earnings per share. ArcBest’s revenue was down 5.8% compared to the same quarter last year. On average, analysts expect that ArcBest Co. will post 6.06 EPS for the current year.

ArcBest Announces Dividend

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

Insiders Place Their Bets

In other ArcBest news, SVP Michael E. Newcity sold 10,443 shares of the business’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 completion of the transaction, the senior vice president now owns 5,051 shares of the company’s stock, valued at approximately $609,150.60. The trade was a 67.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Craig E. Philip sold 3,900 shares of the business’s 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 completion of the transaction, the director now directly owns 23,250 shares of the company’s stock, valued at approximately $2,555,407.50. This trade represents a 14.36 % decrease in their position. The disclosure for this sale can be found here. 1.65% of the stock is owned by insiders.

Hedge Funds Weigh In On ArcBest

A number of hedge funds have recently bought and sold shares of the business. Quarry LP grew its stake in shares of ArcBest by 120.7% during the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 134 shares during the period. Quest Partners LLC bought a new stake in shares of ArcBest during the 2nd quarter valued at about $36,000. GAMMA Investing LLC grew 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 valued at $56,000 after purchasing an additional 200 shares during the period. Avior Wealth Management LLC grew its stake in shares of ArcBest by 17.9% during the 3rd quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock valued at $68,000 after purchasing an additional 95 shares during the period. Finally, KBC Group NV grew its stake in shares of ArcBest by 36.8% during the 3rd quarter. KBC Group NV now owns 851 shares of the transportation company’s stock valued at $92,000 after purchasing an additional 229 shares during the period. Hedge funds and other 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.