ArcBest Co. (NASDAQ:ARCB - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $57.38 and last traded at $58.61, with a volume of 289268 shares. The stock had previously closed at $60.62.
Wall Street Analysts Forecast Growth
ARCB has been the subject of several recent research reports. Citigroup reduced their price target on ArcBest from $83.00 to $66.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Bank of America dropped their price target on shares of ArcBest from $100.00 to $73.00 and set an "underperform" rating for the company in a research note on Wednesday, March 12th. Morgan Stanley decreased their price target on ArcBest from $160.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Jefferies Financial Group decreased their target price on ArcBest from $120.00 to $95.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Truist Financial initiated coverage on ArcBest in a report on Thursday, March 13th. They set a "buy" rating and a $93.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $101.75.
Get Our Latest Stock Analysis on ArcBest
ArcBest Stock Up 3.4 %
The firm has a market cap of $1.42 billion, a PE ratio of 8.37, a price-to-earnings-growth ratio of 1.70 and a beta of 1.62. The stock has a fifty day simple moving average of $72.92 and a two-hundred day simple moving average of $92.31. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10.
ArcBest (NASDAQ:ARCB - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, topping analysts' consensus estimates 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 period in the previous year, the firm posted $2.47 earnings per share. As a group, sell-side analysts expect that ArcBest Co. will post 7 EPS for the current fiscal year.
ArcBest Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.78%. The ex-dividend date was Tuesday, February 11th. ArcBest's dividend payout ratio is presently 6.55%.
Insider Activity at ArcBest
In other ArcBest news, CFO John Matthew Beasley bought 700 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average cost of $74.89 per share, with a total value of $52,423.00. Following the completion of the purchase, the chief financial officer now directly owns 8,142 shares of the company's stock, valued at $609,754.38. This trade represents a 9.41 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.28% of the stock is currently owned by company insiders.
Institutional Trading of ArcBest
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC purchased a new position in shares of ArcBest in the 1st quarter valued at approximately $381,000. Elevation Point Wealth Partners LLC boosted its stake in ArcBest by 33.3% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 3,053 shares of the transportation company's stock valued at $215,000 after purchasing an additional 762 shares during the last quarter. SG Americas Securities LLC bought a new stake in ArcBest in the 1st quarter worth about $384,000. GAMMA Investing LLC grew its stake in shares of ArcBest by 185.3% in the first quarter. GAMMA Investing LLC now owns 1,435 shares of the transportation company's stock worth $101,000 after acquiring an additional 932 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in ArcBest by 7,152.4% during the 1st quarter. Harbor Capital Advisors Inc. now owns 6,092 shares of the transportation company's stock valued at $430,000 after buying an additional 6,008 shares during the last quarter. Hedge funds and other institutional investors own 99.27% of the company's stock.
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.
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