ArcBest (NASDAQ:ARCB) Hits New 1-Year Low – Time to Sell?

Shares of ArcBest Co. (NASDAQ:ARCB) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $92.32 and last traded at $92.37, with a volume of 43768 shares trading hands. The stock had previously closed at $94.11.

Analysts Set New Price Targets

ARCB has been the topic of several research analyst reports. Stephens reaffirmed an “overweight” rating and set a $130.00 price objective on shares of ArcBest in a research note on Wednesday, September 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 report on Monday, November 4th. Bank of America reduced their price objective on ArcBest from $102.00 to $99.00 and set an “underperform” rating on the stock in a research note on Wednesday, September 4th. Wolfe Research lowered ArcBest from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group reduced their price target on shares of ArcBest from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. One equities 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $124.50.

ArcBest Stock Performance

The firm has a market capitalization of $2.19 billion, a P/E ratio of 11.56, a P/E/G ratio of 2.56 and a beta of 1.49. 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’s 50 day moving average is $106.83 and its two-hundred day moving average is $107.81.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company earned $2.31 EPS. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, equities analysts anticipate that ArcBest Co. will post 6.06 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, November 13th. This represents a $0.48 annualized dividend and a dividend yield of 0.51%. ArcBest’s payout ratio is currently 5.93%.

Insider Activity

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

Institutional Trading of ArcBest

A number of large investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in ArcBest by 4.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,149 shares of the transportation company’s stock valued at $551,000 after buying an additional 239 shares in the last quarter. Panagora Asset Management Inc. lifted its position in ArcBest by 7.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 24,398 shares of the transportation company’s stock valued at $2,613,000 after acquiring an additional 1,738 shares in the last quarter. Versor Investments LP bought a new position in ArcBest during the 2nd quarter worth about $447,000. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of ArcBest in the 2nd quarter valued at about $5,630,000. Finally, Emerald Advisers LLC acquired a new stake in shares of ArcBest in the 2nd quarter valued at about $6,812,000. 99.27% of the stock is owned by institutional investors.

About ArcBest

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.