ArcBest (NASDAQ:ARCB) Hits New 52-Week Low – What’s Next?

ArcBest Co. (NASDAQ:ARCB) reached 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.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley reduced their target price on ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. UBS Group reduced their price objective on shares of ArcBest from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Citigroup raised their target price on shares of ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Stifel Nicolaus boosted their price target on shares of ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $118.91.

ArcBest Stock Performance

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 firm has a market capitalization of $2.00 billion, a P/E ratio of 11.63, a price-to-earnings-growth ratio of 1.78 and a beta of 1.51. The business’s 50 day simple moving average is $95.88 and its two-hundred day simple moving average is $103.16.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, topping 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 last year, the company posted $2.47 earnings per share. Sell-side analysts anticipate that ArcBest Co. will post 7 EPS for the current fiscal year.

ArcBest Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.48 annualized dividend and a dividend yield of 0.56%. ArcBest’s dividend payout ratio (DPR) is presently 6.55%.

Hedge Funds Weigh In On ArcBest

A number of hedge funds have recently bought and sold shares of the business. OneDigital Investment Advisors LLC boosted its holdings in shares of ArcBest by 3.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,509 shares of the transportation company’s stock valued at $272,000 after acquiring an additional 86 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in ArcBest by 17.9% in 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 last quarter. Arizona State Retirement System grew its position in ArcBest by 1.6% in the 4th quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company’s stock worth $640,000 after purchasing an additional 108 shares during the period. Nisa Investment Advisors LLC raised its stake in ArcBest by 4.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,225 shares of the transportation company’s stock valued at $350,000 after buying an additional 124 shares during the last quarter. Finally, Summit Investment Advisors Inc. lifted its holdings in shares of ArcBest by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company’s stock valued at $230,000 after buying an additional 157 shares during the period. Hedge funds and other institutional investors 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.