ArcBest (NASDAQ:ARCB) Reaches New 12-Month Low – Time to Sell?

Shares of ArcBest Co. (NASDAQ:ARCB) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $92.32 and last traded at $92.37, with a volume of 43768 shares trading hands. The stock had previously closed at $94.11.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price target on ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Morgan Stanley decreased their target price on shares of ArcBest from $175.00 to $170.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. The Goldman Sachs Group reduced their price target on ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Bank of America lowered their price target on ArcBest from $102.00 to $99.00 and set an “underperform” rating for the company in a report on Wednesday, September 4th. Finally, StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a report on Thursday, October 3rd. One research 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 stock currently has an average rating of “Hold” and a consensus target price of $124.50.

ArcBest Trading Down 0.9 %

The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 2.56 and a beta of 1.49. The firm’s 50 day moving average is $107.02 and its 200 day moving average is $107.94. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Friday, November 1st. The transportation company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.20). The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.07 billion. ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.31 earnings per share. Equities analysts forecast that ArcBest Co. will post 6.06 earnings per share for the current year.

ArcBest Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.48 annualized dividend and a dividend yield of 0.51%. ArcBest’s dividend payout ratio (DPR) is presently 5.93%.

Insider Activity at ArcBest

In related news, SVP Michael E. Newcity sold 10,443 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the sale, the senior vice president now directly owns 5,051 shares in the company, valued at $609,150.60. This represents a 67.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig E. Philip sold 3,900 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $109.91, for a total transaction of $428,649.00. Following the completion of the sale, the director now owns 23,250 shares of the company’s stock, 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. 1.65% of the stock is owned by insiders.

Hedge Funds Weigh In On ArcBest

A number of large investors have recently modified their holdings of ARCB. State Street Corp lifted its holdings in ArcBest by 1.9% during the 3rd quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock worth $103,831,000 after buying an additional 17,542 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in ArcBest by 34.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 583,762 shares of the transportation company’s stock worth $62,509,000 after purchasing an additional 150,467 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of ArcBest by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 551,821 shares of the transportation company’s stock valued at $59,856,000 after purchasing an additional 3,475 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of ArcBest by 4.0% in the 2nd quarter. American Century Companies Inc. now owns 525,471 shares of the transportation company’s stock valued at $56,267,000 after purchasing an additional 20,115 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of ArcBest by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 414,261 shares of the transportation company’s stock worth $44,927,000 after buying an additional 21,905 shares during the period. 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.