ArcBest (NASDAQ:ARCB) Hits New 52-Week Low on Analyst Downgrade

Shares of ArcBest Co. (NASDAQ:ARCB - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $126.00 to $108.00. The Goldman Sachs Group currently has a neutral rating on the stock. ArcBest traded as low as $71.26 and last traded at $72.09, with a volume of 156059 shares traded. The stock had previously closed at $73.33.

A number of other equities analysts have also recently issued reports on the stock. Bank of America lowered their price objective on shares of ArcBest from $100.00 to $73.00 and set an "underperform" rating for the company in a research report on Wednesday. Stephens restated an "overweight" rating and issued a $116.00 price target on shares of ArcBest in a research report on Tuesday, March 11th. Morgan Stanley decreased their price target on shares of ArcBest from $160.00 to $145.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Stifel Nicolaus upped their price target on shares of ArcBest from $109.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Finally, UBS Group decreased their price target on shares of ArcBest from $110.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. One equities research 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. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $108.33.

Remove Ads

Insider Buying and Selling

In other ArcBest news, CFO John Matthew Beasley acquired 700 shares of the company's stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $74.89 per share, with a total value of $52,423.00. Following the completion of the purchase, the chief financial officer now owns 8,142 shares of the company's stock, valued at approximately $609,754.38. This represents a 9.41 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. KBC Group NV raised its holdings in shares of ArcBest by 36.8% in the third 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 last quarter. OneDigital Investment Advisors LLC raised its holdings 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 purchasing an additional 86 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of ArcBest by 4.9% in the third quarter. Empowered Funds LLC now owns 3,695 shares of the transportation company's stock valued at $401,000 after purchasing an additional 173 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of ArcBest by 13.5% in the third quarter. Natixis Advisors LLC now owns 15,988 shares of the transportation company's stock valued at $1,734,000 after purchasing an additional 1,902 shares during the last quarter. Finally, Quest Partners LLC raised its holdings in shares of ArcBest by 60.6% in the third quarter. Quest Partners LLC now owns 546 shares of the transportation company's stock valued at $59,000 after purchasing an additional 206 shares during the last quarter. 99.27% of the stock is owned by institutional investors.

ArcBest Stock Performance

The company's fifty day moving average price is $90.03 and its 200 day moving average price is $99.98. The company has a market cap of $1.70 billion, a PE ratio of 10.01, a P/E/G ratio of 1.70 and a beta of 1.54. 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 - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 earnings per share (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 quarter in the prior year, the firm earned $2.47 earnings per share. On average, equities research analysts predict that ArcBest Co. will post 7 earnings per share for the current year.

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were issued 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 0.65%. ArcBest's dividend payout ratio (DPR) is presently 6.55%.

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.