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

ArcBest Co. (NASDAQ:ARCB) shares hit a new 52-week low on Wednesday after Bank of America lowered their price target on the stock from $100.00 to $73.00. Bank of America currently has an underperform rating on the stock. ArcBest traded as low as $71.26 and last traded at $72.09, with a volume of 156059 shares. The stock had previously closed at $73.33.

Several other research analysts also recently commented on ARCB. Morgan Stanley cut their target price on ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company dropped their price target on ArcBest from $105.00 to $96.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. UBS Group dropped their price target on ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Citigroup decreased their price objective on ArcBest from $103.00 to $83.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Stifel Nicolaus lifted their price target on ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. 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 MarketBeat.com, ArcBest presently has an average rating of “Hold” and a consensus price target of $111.27.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ARCB. Blue Trust Inc. raised its stake in shares of ArcBest by 146.3% in the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock worth $28,000 after buying an additional 177 shares during the period. R Squared Ltd purchased a new position in shares of ArcBest in the 4th quarter worth approximately $40,000. Smartleaf Asset Management LLC boosted its holdings in shares of ArcBest by 471.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company’s stock worth $51,000 after purchasing an additional 453 shares during the period. Quest Partners LLC boosted its holdings in ArcBest by 60.6% during the 3rd quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock valued at $59,000 after acquiring an additional 206 shares during the period. Finally, Avior Wealth Management LLC boosted its holdings in ArcBest by 17.9% during the 3rd quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock valued at $68,000 after acquiring an additional 95 shares during the period. Institutional investors own 99.27% of the company’s stock.

ArcBest Trading Down 0.6 %

The stock has a fifty day moving average of $90.82 and a 200-day moving average of $100.46. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.01. The company has a market cap of $1.69 billion, a PE ratio of 9.94, a PEG ratio of 1.70 and a beta of 1.54.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the firm posted $2.47 earnings per share. Sell-side analysts anticipate that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Tuesday, February 11th. ArcBest’s payout ratio is 6.55%.

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.