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

ArcBest Co. (NASDAQ:ARCB) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $68.83 and last traded at $70.58, with a volume of 452952 shares. The stock had previously closed at $70.80.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ARCB. The Goldman Sachs Group dropped their target price on shares of ArcBest from $126.00 to $108.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Bank of America decreased their target price on shares of ArcBest from $100.00 to $73.00 and set an “underperform” rating for the company in a research note on Wednesday, March 12th. Truist Financial assumed coverage on ArcBest in a research report on Thursday, March 13th. They issued a “buy” rating and a $93.00 price target on the stock. Stephens reaffirmed an “overweight” rating and set a $116.00 price objective on shares of ArcBest in a research report on Tuesday, March 11th. Finally, Morgan Stanley dropped their target price on ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $107.00.

ArcBest Price Performance

The stock has a market capitalization of $1.63 billion, a P/E ratio of 9.63, a price-to-earnings-growth ratio of 1.70 and a beta of 1.54. The business’s 50 day moving average price is $84.52 and its 200 day moving average price is $97.68. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates 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 prior year, the firm posted $2.47 earnings per share. Sell-side analysts forecast that ArcBest Co. will post 7 EPS for the current year.

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were given a $0.12 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.48 annualized dividend and a yield of 0.68%. ArcBest’s payout ratio is 6.55%.

Insider Buying and Selling at ArcBest

In other ArcBest news, CFO John Matthew Beasley acquired 700 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 8,142 shares in the company, valued at approximately $609,754.38. The trade was a 9.41 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.28% of the company’s stock.

Institutional Trading of ArcBest

Several hedge funds have recently bought and sold shares of ARCB. State Street Corp lifted its position in shares of ArcBest by 1.9% during the 3rd quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock valued at $103,831,000 after buying an additional 17,542 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in ArcBest by 24.6% during the third quarter. JPMorgan Chase & Co. now owns 221,507 shares of the transportation company’s stock valued at $24,022,000 after purchasing an additional 43,707 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of ArcBest by 16.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,672 shares of the transportation company’s stock worth $12,653,000 after purchasing an additional 16,103 shares during the period. Barclays PLC increased its stake in shares of ArcBest by 342.5% in the third quarter. Barclays PLC now owns 43,134 shares of the transportation company’s stock worth $4,678,000 after purchasing an additional 33,386 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of ArcBest by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 414,261 shares of the transportation company’s stock valued at $44,927,000 after purchasing an additional 21,905 shares during the period. 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.