ArcBest (NASDAQ:ARCB) Issues Earnings Results

ArcBest (NASDAQ:ARCB) issued its quarterly earnings results on Tuesday. The transportation company reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.19), Yahoo Finance reports. ArcBest had a return on equity of 15.27% and a net margin of 2.80%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business posted $1.58 EPS. ArcBest’s revenue was down 6.3% compared to the same quarter last year.

ArcBest Trading Down 2.3 %

Shares of ARCB opened at $108.36 on Thursday. ArcBest has a 12-month low of $82.18 and a 12-month high of $153.60. The company has a current ratio of 1.23, a quick ratio of 1.26 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $2.55 billion, a P/E ratio of 21.80, a P/E/G ratio of 0.48 and a beta of 1.56. The firm has a 50-day moving average price of $138.58 and a 200 day moving average price of $125.60.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.48 annualized dividend and a dividend yield of 0.44%. ArcBest’s dividend payout ratio is presently 9.66%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ARCB. JPMorgan Chase & Co. cut their price objective on shares of ArcBest from $164.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday. The Goldman Sachs Group boosted their price target on shares of ArcBest from $133.00 to $149.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. StockNews.com raised shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ArcBest in a research note on Monday, January 29th. They issued a “buy” rating and a $148.00 price target on the stock. Finally, TD Cowen decreased their target price on ArcBest from $177.00 to $148.00 and set a “buy” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.38.

Insiders Place Their Bets

In related news, insider Erin K. Gattis sold 2,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $141.58, for a total transaction of $283,160.00. Following the completion of the transaction, the insider now directly owns 32,247 shares in the company, valued at approximately $4,565,530.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.65% of the stock is currently owned by insiders.

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.