ArcBest (NASDAQ:ARCB) Sets New 12-Month Low - Should You Sell?

ArcBest Co. (NASDAQ:ARCB - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $91.00 and last traded at $91.00, with a volume of 689 shares traded. The stock had previously closed at $93.14.

Analyst Ratings Changes

A number of equities analysts have commented on ARCB shares. Wolfe Research downgraded ArcBest from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, October 9th. UBS Group lowered their price target on shares of ArcBest from $111.00 to $110.00 and set a "neutral" rating for the company in a research report on Monday, November 4th. Morgan Stanley lowered their target price on ArcBest from $175.00 to $170.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. JPMorgan Chase & Co. dropped their price target on shares of ArcBest from $130.00 to $117.00 and set a "neutral" rating on the stock in a research report on Monday, November 4th. Finally, Jefferies Financial Group cut their price objective on ArcBest from $140.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $124.50.

ArcBest Stock Performance

The firm's fifty day moving average is $104.93 and its 200 day moving average is $106.85. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 2.56 and a beta of 1.53. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the business earned $2.31 EPS. The company's quarterly revenue was down 5.8% on a year-over-year basis. On average, analysts predict that ArcBest Co. will post 6.06 EPS for the current fiscal year.

ArcBest Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Wednesday, November 13th. ArcBest's payout ratio is presently 5.93%.

Insiders Place Their Bets

In related news, Director Craig E. Philip sold 3,900 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $109.91, for a total value of $428,649.00. Following the transaction, the director now directly owns 23,250 shares of the company's stock, valued at approximately $2,555,407.50. This trade represents a 14.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael E. Newcity sold 10,443 shares of the company's stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 5,051 shares of the company's stock, valued at $609,150.60. The trade was a 67.40 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.65% of the company's stock.

Institutional Investors Weigh In On ArcBest

A number of hedge funds have recently bought and sold shares of the company. Quarry LP lifted its position in shares of ArcBest by 120.7% during the 2nd quarter. Quarry LP now owns 245 shares of the transportation company's stock worth $26,000 after purchasing an additional 134 shares during the last quarter. Quest Partners LLC acquired a new position in shares of ArcBest during the second quarter worth approximately $36,000. GAMMA Investing LLC boosted its position in shares of ArcBest by 63.7% in the third quarter. GAMMA Investing LLC now owns 514 shares of the transportation company's stock valued at $56,000 after acquiring an additional 200 shares during the period. Avior Wealth Management LLC grew its stake in shares of ArcBest by 17.9% in the third quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company's stock worth $68,000 after acquiring an additional 95 shares during the last quarter. Finally, KBC Group NV increased its position in ArcBest by 36.8% during the third quarter. KBC Group NV now owns 851 shares of the transportation company's stock worth $92,000 after acquiring an additional 229 shares during the period. 99.27% of the stock is currently 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.