ArcBest (NASDAQ:ARCB) Hits New 12-Month Low on Analyst Downgrade

ArcBest Co. (NASDAQ:ARCB) shares reached a new 52-week low during mid-day trading on Monday after UBS Group lowered their price target on the stock from $110.00 to $100.00. UBS Group currently has a neutral rating on the stock. ArcBest traded as low as $90.25 and last traded at $92.07, with a volume of 9117 shares trading hands. The stock had previously closed at $95.61.

ARCB has been the topic of a number of other research reports. Morgan Stanley lowered their target price on shares of ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday. Citigroup boosted their target price on ArcBest from $110.00 to $127.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Wells Fargo & Company dropped their price objective on ArcBest from $105.00 to $96.00 and set an “equal weight” rating for the company in a report on Monday. JPMorgan Chase & Co. lowered their target price on ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Finally, Wolfe Research cut ArcBest from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, ArcBest currently has an average rating of “Hold” and an average target price of $118.91.

Insider Transactions at ArcBest

In other news, Director Craig E. Philip sold 3,900 shares of the business’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 transaction of $428,649.00. Following the completion of the transaction, the director now directly owns 23,250 shares in the company, valued at approximately $2,555,407.50. The trade was a 14.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael E. Newcity sold 10,443 shares of the business’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 in the company, valued at approximately $609,150.60. The trade was a 67.40 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.18% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC raised its stake in ArcBest by 52.6% during the 2nd quarter. AQR Capital Management LLC now owns 10,227 shares of the transportation company’s stock valued at $1,095,000 after purchasing an additional 3,525 shares during the period. Creative Planning boosted its holdings in ArcBest by 30.0% in the second quarter. Creative Planning now owns 4,584 shares of the transportation company’s stock worth $491,000 after purchasing an additional 1,057 shares in the last quarter. Quarry LP lifted its position in ArcBest by 120.7% during the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock worth $26,000 after acquiring an additional 134 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in ArcBest during the 2nd quarter worth $419,000. Finally, Handelsbanken Fonder AB lifted its position in ArcBest by 50.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 7,500 shares of the transportation company’s stock worth $813,000 after acquiring an additional 2,500 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

ArcBest Price Performance

The stock’s 50-day moving average price is $100.88 and its 200 day moving average price is $105.45. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 1.78 and a beta of 1.51. The company has a quick ratio of 1.04, a current ratio of 1.01 and a debt-to-equity ratio of 0.10.

ArcBest (NASDAQ:ARCB) last posted 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 net margin of 4.16% and a return on equity of 11.79%. During the same period last year, the firm earned $2.47 earnings per share. Equities research analysts predict that ArcBest Co. will post 7.5 earnings per share for the current year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Tuesday, February 11th. ArcBest’s dividend payout ratio is 6.55%.

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.