ArcBest (ARCB) Sets New 1-Year Low at $30.77

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Shares of ArcBest Corp (NASDAQ:ARCB) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $30.77 and last traded at $30.83, with a volume of 1139 shares traded. The stock had previously closed at $31.91.

Several equities research analysts have recently issued reports on the company. ValuEngine downgraded ArcBest from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. Bank of America reiterated an “underperform” rating and set a $34.00 price target (down previously from $45.00) on shares of ArcBest in a research report on Tuesday, March 12th. BidaskClub lowered shares of ArcBest from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Zacks Investment Research lowered shares of ArcBest from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Finally, Loop Capital increased their price target on shares of ArcBest from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, January 31st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. ArcBest currently has an average rating of “Hold” and a consensus price target of $43.22.

The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization of $807.01 million, a PE ratio of 7.97, a P/E/G ratio of 2.95 and a beta of 2.14.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Wednesday, January 30th. The transportation company reported $1.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.08. The business had revenue of $774.28 million during the quarter, compared to the consensus estimate of $767.78 million. ArcBest had a net margin of 2.17% and a return on equity of 14.95%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. Equities research analysts expect that ArcBest Corp will post 3.76 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 22nd. Investors of record on Friday, February 8th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Thursday, February 7th. ArcBest’s payout ratio is 8.29%.

Large investors have recently modified their holdings of the stock. Quantamental Technologies LLC bought a new position in ArcBest in the 4th quarter valued at approximately $38,000. PNC Financial Services Group Inc. lifted its stake in ArcBest by 13.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,163 shares of the transportation company’s stock valued at $107,000 after purchasing an additional 375 shares during the last quarter. Neuburgh Advisers LLC lifted its stake in ArcBest by 15.1% in the 4th quarter. Neuburgh Advisers LLC now owns 3,520 shares of the transportation company’s stock valued at $121,000 after purchasing an additional 462 shares during the last quarter. Sun Life Financial INC lifted its stake in ArcBest by 596.2% in the 4th quarter. Sun Life Financial INC now owns 3,885 shares of the transportation company’s stock valued at $133,000 after purchasing an additional 3,327 shares during the last quarter. Finally, Flinton Capital Management LLC lifted its stake in ArcBest by 15.1% in the 4th quarter. Flinton Capital Management LLC now owns 5,440 shares of the transportation company’s stock valued at $186,000 after purchasing an additional 714 shares during the last quarter. 93.98% of the stock is owned by institutional investors and hedge funds.

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ArcBest Company Profile (NASDAQ:ARCB)

ArcBest Corporation provides freight transportation services and integrated logistics solutions worldwide. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

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