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

ArcBest Co. (NASDAQ:ARCB - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $92.57 and last traded at $93.62, with a volume of 66897 shares trading hands. The stock had previously closed at $97.58.

Analyst Ratings Changes

Several brokerages have commented on ARCB. UBS Group dropped their target price on shares of ArcBest from $111.00 to $110.00 and set a "neutral" rating on the stock in a report on Monday, November 4th. Morgan Stanley dropped their price objective on shares of ArcBest from $175.00 to $170.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. StockNews.com raised shares of ArcBest from a "hold" rating to a "buy" rating in a research note on Thursday, October 3rd. Wells Fargo & Company dropped their price target on ArcBest from $112.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Monday, November 4th. Finally, Wolfe Research cut ArcBest from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $124.50.

ArcBest Trading Down 3.5 %

The company has a market cap of $2.20 billion, a P/E ratio of 11.62, a PEG ratio of 2.56 and a beta of 1.49. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. The business has a fifty day moving average price of $108.17 and a 200-day moving average price of $108.28.

ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The transportation company reported $1.64 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 firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the company earned $2.31 earnings per share. The business's quarterly revenue was down 5.8% compared to the same quarter last year. On average, analysts forecast that ArcBest Co. will post 6.06 earnings per share for the current year.

ArcBest Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.51%. The ex-dividend date was Wednesday, November 13th. ArcBest's dividend payout ratio (DPR) is 5.93%.

Insider Buying and Selling at ArcBest

In other news, Director Craig E. Philip sold 3,900 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total transaction of $428,649.00. Following the completion of the sale, the director now owns 23,250 shares of the company's stock, valued at approximately $2,555,407.50. This represents a 14.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael E. Newcity sold 10,443 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the sale, the senior vice president now owns 5,051 shares in the company, valued at $609,150.60. This represents 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 Trading of ArcBest

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP raised its stake in ArcBest by 120.7% during the second quarter. Quarry LP now owns 245 shares of the transportation company's stock worth $26,000 after buying an additional 134 shares during the last quarter. Innealta Capital LLC bought a new position in shares of ArcBest in the 2nd quarter worth about $33,000. Quest Partners LLC acquired a new position in shares of ArcBest in the 2nd quarter valued at about $36,000. GAMMA Investing LLC boosted its position in shares of ArcBest by 63.7% during the 3rd quarter. GAMMA Investing LLC now owns 514 shares of the transportation company's stock valued at $56,000 after purchasing an additional 200 shares in the last quarter. Finally, Avior Wealth Management LLC grew its stake in ArcBest by 17.9% during the third quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company's stock worth $68,000 after purchasing an additional 95 shares during the period. 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.