ArcBest (NASDAQ:ARCB) Reaches New 52-Week Low – Here’s What Happened

ArcBest Co. (NASDAQ:ARCB)’s share price reached a new 52-week low during trading on Tuesday . The company 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.

Wall Street Analysts Forecast Growth

ARCB has been the topic of a number of recent research reports. UBS Group dropped their target price on ArcBest from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Citigroup increased their price objective on shares of ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Morgan Stanley lowered their price target on shares of ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company cut their price target on ArcBest from $105.00 to $96.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. lowered their target price on ArcBest from $130.00 to $117.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, ArcBest has an average rating of “Hold” and an average price target of $118.91.

ArcBest Trading Down 5.4 %

The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 10.17, a P/E/G ratio of 1.70 and a beta of 1.51. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.01. The company has a 50 day moving average price of $93.92 and a two-hundred day moving average price of $102.32.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data 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 quarter in the prior year, the business earned $2.47 EPS. On average, research analysts forecast that ArcBest Co. will post 7 EPS for the current year.

ArcBest Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC raised its position in shares of ArcBest by 3.5% in the third quarter. OneDigital Investment Advisors LLC now owns 2,509 shares of the transportation company’s stock valued at $272,000 after buying an additional 86 shares during the last quarter. Avior Wealth Management LLC grew its stake in 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 acquiring an additional 95 shares in the last quarter. Arizona State Retirement System raised its holdings in ArcBest by 1.6% in the 4th quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company’s stock valued at $640,000 after acquiring an additional 108 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in ArcBest by 4.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,225 shares of the transportation company’s stock worth $350,000 after purchasing an additional 124 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in shares of ArcBest by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company’s stock worth $230,000 after purchasing an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

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.