ArcBest Corp. (ARCB) to Post Q3 2016 Earnings of $0.46 Per Share, KeyCorp Forecasts
ArcBest Corp. (NASDAQ:ARCB) – Equities researchers at KeyCorp decreased their Q3 2016 EPS estimates for shares of ArcBest Corp. in a research report issued to clients and investors on Tuesday. KeyCorp analyst T. Fowler now anticipates that the brokerage will post earnings of $0.46 per share for the quarter, down from their previous estimate of $0.54. KeyCorp also issued estimates for ArcBest Corp.’s Q4 2016 earnings at $0.34 EPS and FY2016 earnings at $0.95 EPS.
ARCB has been the subject of several other reports. Buckingham Research initiated coverage on ArcBest Corp. in a research note on Friday, September 23rd. They issued a “buy” rating and a $24.00 target price for the company. Zacks Investment Research upgraded ArcBest Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 30th. Citigroup Inc. reduced their target price on ArcBest Corp. from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, July 11th. Finally, Deutsche Bank AG set a $20.00 target price on ArcBest Corp. and gave the company a “hold” rating in a research note on Thursday, July 21st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. ArcBest Corp. currently has an average rating of “Hold” and a consensus target price of $22.07.
ArcBest Corp. (NASDAQ:ARCB) opened at 19.01 on Wednesday. The firm has a market cap of $489.49 million, a P/E ratio of 17.83 and a beta of 1.78. ArcBest Corp. has a 12 month low of $14.85 and a 12 month high of $28.80. The firm’s 50-day moving average price is $18.48 and its 200-day moving average price is $18.51.
ArcBest Corp. (NASDAQ:ARCB) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by $0.05. The business had revenue of $676.60 million for the quarter, compared to analyst estimates of $683.12 million. ArcBest Corp. had a return on equity of 5.02% and a net margin of 1.06%. ArcBest Corp.’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm earned $0.75 EPS.
A number of institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its position in ArcBest Corp. by 99.0% in the second quarter. BNP Paribas Arbitrage SA now owns 7,990 shares of the company’s stock valued at $130,000 after buying an additional 3,974 shares in the last quarter. Royal Bank of Canada boosted its position in ArcBest Corp. by 33.8% in the first quarter. Royal Bank of Canada now owns 19,848 shares of the company’s stock valued at $429,000 after buying an additional 5,009 shares in the last quarter. Arizona State Retirement System boosted its position in ArcBest Corp. by 4.2% in the first quarter. Arizona State Retirement System now owns 12,416 shares of the company’s stock valued at $268,000 after buying an additional 500 shares in the last quarter. Aristotle Capital Boston LLC boosted its position in ArcBest Corp. by 2.2% in the first quarter. Aristotle Capital Boston LLC now owns 197,410 shares of the company’s stock valued at $4,262,000 after buying an additional 4,323 shares in the last quarter. Finally, Pinnacle Holdings LLC boosted its position in ArcBest Corp. by 1.1% in the first quarter. Pinnacle Holdings LLC now owns 30,442 shares of the company’s stock valued at $657,000 after buying an additional 345 shares in the last quarter. 84.52% of the stock is currently owned by institutional investors and hedge funds.
About ArcBest Corp.
ArcBest Corporation is a holding company of businesses providing freight transportation services and logistics solutions. The Company operates through five segments: Freight Transportation (ABF Freight) segment, Premium Logistics (Panther), Transportation Management (ABF Logistics), Emergency & Preventative Maintenance (FleetNet) and Household Goods Moving Services (ABF Moving).
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