ArcBest (NASDAQ:ARCB) Reaches New 52-Week Low - What's Next?

ArcBest Co. (NASDAQ:ARCB - Get Free Report)'s stock price hit a new 52-week low on Tuesday . The company traded as low as $74.05 and last traded at $74.54, with a volume of 429342 shares traded. The stock had previously closed at $78.77.

Wall Street Analyst Weigh In

A number of research firms have commented on ARCB. Wells Fargo & Company dropped their price objective on shares of ArcBest from $105.00 to $96.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. Morgan Stanley reduced their target price on shares of ArcBest from $160.00 to $145.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Stifel Nicolaus boosted their price target on shares of ArcBest from $109.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Citigroup raised their price objective on shares of ArcBest from $110.00 to $127.00 and gave the company a "neutral" rating in a research report on Tuesday, November 12th. Finally, UBS Group lowered their price objective on ArcBest from $110.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. 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, the company has a consensus rating of "Hold" and a consensus price target of $118.91.

ArcBest Stock Down 1.3 %

The firm has a 50 day moving average of $92.38 and a two-hundred day moving average of $101.47. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $1.76 billion, a PE ratio of 10.27, a P/E/G ratio of 1.70 and a beta of 1.51.

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ArcBest (NASDAQ:ARCB - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same quarter in the prior year, the firm posted $2.47 earnings per share. Equities research analysts anticipate 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 given a dividend of $0.12 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.48 annualized dividend and a dividend yield of 0.64%. ArcBest's dividend payout ratio is currently 6.55%.

Hedge Funds Weigh In On ArcBest

Several hedge funds have recently bought and sold shares of the stock. QRG Capital Management Inc. increased its position in ArcBest by 6.5% during the 3rd quarter. QRG Capital Management Inc. now owns 3,156 shares of the transportation company's stock worth $342,000 after purchasing an additional 193 shares in the last quarter. Meritage Portfolio Management boosted its stake in shares of ArcBest by 9.3% during the 3rd quarter. Meritage Portfolio Management now owns 3,680 shares of the transportation company's stock worth $399,000 after purchasing an additional 312 shares during the last quarter. GSA Capital Partners LLP grew its holdings in shares of ArcBest by 22.6% during the third quarter. GSA Capital Partners LLP now owns 15,266 shares of the transportation company's stock worth $1,656,000 after buying an additional 2,810 shares in the last quarter. KBC Group NV lifted its stake in shares of ArcBest by 36.8% during the third quarter. KBC Group NV now owns 851 shares of the transportation company's stock valued at $92,000 after buying an additional 229 shares during the period. Finally, OneDigital Investment Advisors LLC boosted its position in ArcBest by 3.5% during the third quarter. OneDigital Investment Advisors LLC now owns 2,509 shares of the transportation company's stock worth $272,000 after acquiring an additional 86 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.