ArcBest (NASDAQ:ARCB) Hits New 52-Week Low – Should You Sell?

Shares of ArcBest Co. (NASDAQ:ARCB) reached a new 52-week low during trading on Wednesday . The stock traded as low as $57.38 and last traded at $58.61, with a volume of 289268 shares changing hands. The stock had previously closed at $60.62.

Analysts Set New Price Targets

A number of research analysts have weighed in on ARCB shares. Stifel Nicolaus upped their price objective on shares of ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Truist Financial started coverage on ArcBest in a research report on Thursday, March 13th. They set a “buy” rating and a $93.00 price target on the stock. UBS Group cut their price objective on ArcBest from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. The Goldman Sachs Group decreased their target price on ArcBest from $108.00 to $97.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Finally, Citigroup cut their price target on shares of ArcBest from $83.00 to $66.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $101.75.

ArcBest Stock Performance

The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 1.70 and a beta of 1.62. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. The firm has a fifty day moving average of $75.57 and a 200 day moving average of $93.55.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same period in the prior year, the firm posted $2.47 earnings per share. As a group, sell-side analysts forecast that ArcBest Co. will post 7 EPS for the current year.

ArcBest Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were issued a $0.12 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.48 annualized dividend and a yield of 0.82%. ArcBest’s payout ratio is 6.55%.

Insider Transactions at ArcBest

In other ArcBest news, CFO John Matthew Beasley purchased 700 shares of the stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the acquisition, the chief financial officer now owns 8,142 shares in the company, valued at $609,754.38. This trade represents a 9.41 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. increased its holdings 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 purchasing an additional 177 shares during the last quarter. R Squared Ltd acquired a new stake in shares of ArcBest in the fourth quarter valued at $40,000. Smartleaf Asset Management LLC grew its stake 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 valued at $51,000 after buying an additional 453 shares in the last quarter. Curat Global LLC purchased a new stake in shares of ArcBest in the 1st quarter valued at $82,000. Finally, GAMMA Investing LLC lifted its stake in ArcBest by 185.3% during the 1st quarter. GAMMA Investing LLC now owns 1,435 shares of the transportation company’s stock worth $101,000 after acquiring an additional 932 shares in the last quarter. 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.