ArcBest (NASDAQ:ARCB) Hits New 1-Year Low – Should You Sell?

ArcBest Co. (NASDAQ:ARCB) hit a new 52-week low during mid-day trading 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

A number of brokerages have commented on ARCB. Wells Fargo & Company decreased their price objective on shares of ArcBest from $105.00 to $96.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. JPMorgan Chase & Co. lowered their price target 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. UBS Group reduced their price objective on ArcBest from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Citigroup lifted their target price on ArcBest from $110.00 to $127.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus raised their price target on ArcBest from $109.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, ArcBest presently has a consensus rating of “Hold” and a consensus price target of $118.91.

ArcBest Stock Performance

The stock has a market cap of $2.07 billion, a P/E ratio of 12.04, a PEG ratio of 1.90 and a beta of 1.51. The stock has a fifty day simple moving average of $96.78 and a 200-day simple moving average of $103.40. 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 released its quarterly earnings data on Friday, January 31st. The transportation company reported $1.33 earnings per share 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 quarter last year, the business posted $2.47 EPS. Equities analysts expect that ArcBest Co. will post 7 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The company 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 $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Tuesday, February 11th. ArcBest’s dividend payout ratio is currently 6.55%.

Insider Buying and Selling

In other ArcBest news, Director Craig E. Philip sold 3,900 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $109.91, for a total value of $428,649.00. Following the completion of the sale, the director now directly owns 23,250 shares in the company, valued at $2,555,407.50. This represents a 14.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.65% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ArcBest

Several institutional investors and hedge funds have recently modified their holdings of ARCB. Public Employees Retirement System of Ohio lifted its stake in ArcBest by 3.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 35,270 shares of the transportation company’s stock valued at $3,291,000 after buying an additional 1,146 shares in the last quarter. Zimmer Partners LP lifted its position in ArcBest by 23.5% in the 4th quarter. Zimmer Partners LP now owns 105,000 shares of the transportation company’s stock valued at $9,799,000 after acquiring an additional 20,000 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in ArcBest by 2.6% in the 4th quarter. Westwood Holdings Group Inc. now owns 635,858 shares of the transportation company’s stock worth $59,338,000 after purchasing an additional 16,239 shares during the period. Two Sigma Advisers LP boosted its stake in ArcBest by 147.1% in the 4th quarter. Two Sigma Advisers LP now owns 16,800 shares of the transportation company’s stock worth $1,568,000 after purchasing an additional 10,000 shares during the period. Finally, Two Sigma Investments LP increased its holdings in ArcBest by 12.0% during the 4th quarter. Two Sigma Investments LP now owns 64,399 shares of the transportation company’s stock worth $6,010,000 after purchasing an additional 6,900 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

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.