ArcBest Co. (NASDAQ:ARCB - Get Free Report) hit a new 52-week low during trading on Tuesday following a dissappointing earnings announcement. The stock traded as low as $57.22 and last traded at $58.61, with a volume of 34084 shares trading hands. The stock had previously closed at $59.10.
The transportation company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $967.08 million for the quarter, compared to analysts' expectations of $990.03 million. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. The firm's revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.34 EPS.
ArcBest Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Friday, May 9th. ArcBest's dividend payout ratio is presently 6.35%.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on ARCB shares. Bank of America cut their price target on shares of ArcBest from $100.00 to $73.00 and set an "underperform" rating on the stock in a report on Wednesday, March 12th. TD Cowen cut their price objective on shares of ArcBest from $80.00 to $72.00 and set a "hold" rating on the stock in a research note on Wednesday. Morgan Stanley reduced their target price on shares of ArcBest from $160.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. The Goldman Sachs Group cut their price target on ArcBest from $97.00 to $84.00 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, StockNews.com lowered ArcBest from a "hold" rating to a "sell" rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $88.75.
Read Our Latest Report on ARCB
Insider Transactions at ArcBest
In other news, CFO John Matthew Beasley acquired 700 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were bought at an average price 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 of the company's stock, valued at approximately $609,754.38. This trade represents a 9.41 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.28% of the company's stock.
Hedge Funds Weigh In On ArcBest
A number of institutional investors and hedge funds have recently bought and sold shares of ARCB. Signaturefd LLC boosted its holdings in shares of ArcBest by 477.6% during the 1st quarter. Signaturefd LLC now owns 387 shares of the transportation company's stock worth $27,000 after purchasing an additional 320 shares during the last quarter. Blue Trust Inc. boosted its stake in ArcBest by 146.3% during the fourth quarter. Blue Trust Inc. now owns 298 shares of the transportation company's stock worth $28,000 after buying an additional 177 shares during the last quarter. CWM LLC grew its holdings in ArcBest by 338.8% in the 1st quarter. CWM LLC now owns 452 shares of the transportation company's stock valued at $32,000 after buying an additional 349 shares in the last quarter. R Squared Ltd acquired a new stake in shares of ArcBest in the 4th quarter worth $40,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of ArcBest by 471.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 549 shares of the transportation company's stock worth $51,000 after acquiring an additional 453 shares during the period. 99.27% of the stock is currently owned by institutional investors and hedge funds.
ArcBest Stock Performance
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 firm's 50-day moving average price is $68.52 and its two-hundred day moving average price is $90.28. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 1.70 and a beta of 1.70.
About ArcBest
(
Get Free Report)
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.
Further Reading
Before you consider ArcBest, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ArcBest wasn't on the list.
While ArcBest currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
