ArcBest (NASDAQ:ARCB) Reaches New 12-Month Low – What’s Next?

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Morgan Stanley decreased their price target on shares of ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Citigroup lowered their target price on ArcBest from $103.00 to $83.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Truist Financial started coverage on ArcBest in a research note on Thursday, March 13th. They issued a “buy” rating and a $93.00 price target for the company. Stifel Nicolaus increased their target price on shares of ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, Bank of America dropped their price target on ArcBest from $100.00 to $73.00 and set an “underperform” rating for the company in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, ArcBest has an average rating of “Hold” and a consensus target price of $107.00.

ArcBest Stock Performance

The company has a 50-day moving average of $83.92 and a 200-day moving average of $97.44. The firm has a market capitalization of $1.69 billion, a P/E ratio of 9.94, a price-to-earnings-growth ratio of 1.70 and a beta of 1.55. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10.

ArcBest (NASDAQ:ARCB) last released its earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, beating 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 quarter in the prior year, the firm posted $2.47 earnings per share. On average, equities analysts anticipate that ArcBest Co. will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.48 dividend on an annualized basis and a yield of 0.66%. ArcBest’s dividend payout ratio (DPR) is currently 6.55%.

Insiders Place Their Bets

In other news, CFO John Matthew Beasley acquired 700 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the acquisition, the chief financial officer now directly owns 8,142 shares in the company, valued at $609,754.38. The trade was a 9.41 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.28% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ARCB. Arizona State Retirement System increased its holdings in ArcBest by 1.6% during the 4th quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company’s stock worth $640,000 after purchasing an additional 108 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in ArcBest by 6.8% during the fourth 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. Stephens Inc. AR increased its stake in ArcBest by 2.1% in the 4th quarter. Stephens Inc. AR now owns 8,128 shares of the transportation company’s stock valued at $758,000 after buying an additional 170 shares during the last quarter. Blue Trust Inc. lifted its position in shares of ArcBest by 146.3% during the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock worth $28,000 after buying an additional 177 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in shares of ArcBest by 5.4% in the third quarter. Sanctuary Advisors LLC now owns 4,123 shares of the transportation company’s stock valued at $453,000 after acquiring an additional 213 shares in the last quarter. Institutional investors and hedge funds 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.