ArcBest (NASDAQ:ARCB) Issues Earnings Results

ArcBest (NASDAQ:ARCB) released its quarterly earnings results on Tuesday. The transportation company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.19), Yahoo Finance reports. ArcBest had a net margin of 2.80% and a return on equity of 15.27%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business earned $1.58 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis.

ArcBest Stock Up 1.7 %

NASDAQ ARCB opened at $110.25 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.23 and a quick ratio of 1.26. The stock has a market capitalization of $2.59 billion, a PE ratio of 21.80, a PEG ratio of 0.48 and a beta of 1.56. ArcBest has a 1 year low of $82.18 and a 1 year high of $153.60. The business’s 50-day moving average is $138.58 and its 200 day moving average is $125.60.

ArcBest Announces Dividend

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

Insider Buying and Selling

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of ArcBest stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $141.58, for a total transaction of $283,160.00. Following the sale, the insider now directly owns 32,247 shares of the company’s stock, valued at approximately $4,565,530.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.65% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ARCB shares. Morgan Stanley raised their price target on ArcBest from $155.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. JPMorgan Chase & Co. lowered their price target on ArcBest from $164.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday. Stifel Nicolaus lifted their price objective on ArcBest from $153.00 to $159.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Finally, The Goldman Sachs Group lifted their price objective on ArcBest from $133.00 to $149.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $143.38.

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.