ArcBest (NASDAQ:ARCB) Reaches New 1-Year Low – Time to Sell?

ArcBest Co. (NASDAQ:ARCB)’s stock price reached 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 changing hands. The stock had previously closed at $97.58.

Analyst Ratings Changes

ARCB has been the topic of several recent research reports. Jefferies Financial Group decreased their price objective on ArcBest from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Bank of America lowered their price target on shares of ArcBest from $102.00 to $99.00 and set an “underperform” rating on the stock in a report on Wednesday, September 4th. TD Cowen cut shares of ArcBest from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $131.00 to $114.00 in a research note on Monday, October 14th. StockNews.com upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, October 3rd. Finally, Morgan Stanley cut their price target on ArcBest from $175.00 to $170.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $124.50.

ArcBest Stock Down 3.5 %

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 stock has a market capitalization 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 fifty day moving average price of $107.93 and a 200-day moving average price of $108.25.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, November 1st. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.20). The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.07 billion. ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The firm’s revenue was down 5.8% on a year-over-year basis. During the same period last year, the company earned $2.31 earnings per share. As a group, research analysts forecast that ArcBest Co. will post 6.06 EPS for the current fiscal 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. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.51%. ArcBest’s payout ratio is currently 5.93%.

Insider Transactions at ArcBest

In other news, SVP Michael E. Newcity sold 10,443 shares of ArcBest 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 completion of the transaction, the senior vice president now owns 5,051 shares in the company, valued at approximately $609,150.60. The trade was a 67.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig E. Philip sold 3,900 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total value of $428,649.00. Following the sale, the director now owns 23,250 shares in the company, valued at $2,555,407.50. The trade was a 14.36 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.65% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. OneDigital Investment Advisors LLC boosted its stake 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 worth $272,000 after purchasing an additional 86 shares during the period. Avior Wealth Management LLC grew its stake in shares of ArcBest by 17.9% during the third quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock valued at $68,000 after buying an additional 95 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of ArcBest by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,800 shares of the transportation company’s stock worth $1,264,000 after acquiring an additional 100 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings 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 acquiring an additional 124 shares during the period. Finally, Johnson Investment Counsel Inc. grew its position in ArcBest by 6.5% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 2,095 shares of the transportation company’s stock valued at $224,000 after acquiring an additional 128 shares during the last quarter. Institutional investors 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.