ArcBest (NASDAQ:ARCB) Sets New 1-Year Low on Analyst Downgrade

Shares of ArcBest Co. (NASDAQ:ARCB) reached a new 52-week low during trading 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 traded. The stock had previously closed at $73.33.

A number of other research firms also recently commented on ARCB. Stephens reiterated an “overweight” rating and issued a $116.00 target price on shares of ArcBest in a research report on Tuesday. Citigroup cut their target price on shares of ArcBest from $103.00 to $83.00 and set a “neutral” rating for the company in a report on Tuesday. Morgan Stanley reduced their price target on shares of ArcBest from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. UBS Group lowered their price objective on shares of ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Finally, Stifel Nicolaus boosted their target price on shares of ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $111.27.

Institutional Investors Weigh In On ArcBest

Hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. grew its position in ArcBest by 146.3% in the 4th quarter. Blue Trust Inc. now owns 298 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 177 shares during the last quarter. R Squared Ltd purchased a new stake in shares of ArcBest during the fourth quarter valued at $40,000. Quest Partners LLC boosted its stake in shares of ArcBest by 60.6% during the third quarter. Quest Partners LLC now owns 546 shares of the transportation company’s stock valued at $59,000 after purchasing an additional 206 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of ArcBest by 471.9% in the fourth 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 last quarter. Finally, Avior Wealth Management LLC increased its stake in ArcBest by 17.9% in the 3rd quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock worth $68,000 after buying an additional 95 shares during the period. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

ArcBest Stock Down 1.4 %

The company has a market cap of $1.67 billion, a P/E ratio of 9.85, a price-to-earnings-growth ratio of 1.70 and a beta of 1.54. 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 business’s fifty day moving average is $91.23 and its two-hundred day moving average is $100.65.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, beating 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 quarter in the prior year, the firm earned $2.47 earnings per share. Equities analysts predict that ArcBest Co. will post 7 EPS for the current year.

ArcBest Dividend Announcement

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