ArcBest (NASDAQ:ARCB) Hits New 12-Month Low - What's Next?

ArcBest Co. (NASDAQ:ARCB - Get Free Report)'s stock price hit a new 52-week low on Thursday . The stock traded as low as $90.00 and last traded at $90.19, with a volume of 11454 shares traded. The stock had previously closed at $91.21.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ARCB shares. UBS Group cut their price objective on shares of ArcBest from $110.00 to $100.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. Morgan Stanley reduced their price objective on ArcBest from $160.00 to $145.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Citigroup raised their price target 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. 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 note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. cut their price target on ArcBest from $130.00 to $117.00 and set a "neutral" rating for the company in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $118.91.

ArcBest Stock Up 2.5 %

The company has a quick ratio of 1.04, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $2.05 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 1.78 and a beta of 1.51. The firm has a 50-day moving average of $95.88 and a two-hundred day moving average of $103.13.

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ArcBest (NASDAQ:ARCB - Get Free Report) last posted its earnings results on Friday, January 31st. The transportation company reported $1.33 EPS 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 period in the previous year, the company earned $2.47 EPS. Equities research analysts predict that ArcBest Co. will post 7 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.55%. ArcBest's payout ratio is presently 6.55%.

Hedge Funds Weigh In On ArcBest

Several hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp lifted its position in shares of ArcBest by 71.0% during the fourth quarter. Mackenzie Financial Corp now owns 15,449 shares of the transportation company's stock worth $1,442,000 after purchasing an additional 6,412 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of ArcBest by 3.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 35,270 shares of the transportation company's stock worth $3,291,000 after acquiring an additional 1,146 shares during the period. Zimmer Partners LP raised its stake in shares of ArcBest by 23.5% in the fourth quarter. Zimmer Partners LP now owns 105,000 shares of the transportation company's stock valued at $9,799,000 after acquiring an additional 20,000 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in ArcBest by 2.6% in the fourth quarter. Westwood Holdings Group Inc. now owns 635,858 shares of the transportation company's stock valued at $59,338,000 after purchasing an additional 16,239 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in ArcBest by 147.1% during the 4th quarter. Two Sigma Advisers LP now owns 16,800 shares of the transportation company's stock worth $1,568,000 after purchasing an additional 10,000 shares during the period. Institutional investors and hedge funds own 99.27% of the company's stock.

ArcBest Company Profile

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.