ArcBest (NASDAQ:ARCB) Releases Earnings Results

ArcBest (NASDAQ:ARCB) announced its 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 return on equity of 15.91% and a net margin of 4.41%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm posted $1.58 earnings per share. The company’s revenue was down 6.3% on a year-over-year basis.

ArcBest Stock Down 0.7 %

Shares of ArcBest stock traded down $0.83 on Wednesday, hitting $110.08. The company had a trading volume of 159,439 shares, compared to its average volume of 312,810. The firm has a market capitalization of $2.59 billion, a P/E ratio of 13.73, a P/E/G ratio of 0.56 and a beta of 1.49. ArcBest has a twelve month low of $82.18 and a twelve month high of $153.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a 50-day moving average of $139.19 and a 200-day moving average of $125.72.

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 $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Thursday, May 9th. ArcBest’s dividend payout ratio (DPR) is presently 6.07%.

Wall Street Analysts Forecast Growth

ARCB has been the subject of a number of research analyst reports. Morgan Stanley boosted their target price on shares of ArcBest from $155.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. StockNews.com raised shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Stifel Nicolaus boosted their price target on shares of ArcBest from $153.00 to $159.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. UBS Group boosted their price target on shares of ArcBest from $119.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of ArcBest in a research note on Monday, January 29th. They set a “buy” rating and a $148.00 price target for the company. 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.77.

Insider Activity

In other news, insider Erin K. Gattis sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $141.58, for a total value of $283,160.00. Following the completion of the transaction, the insider now owns 32,247 shares in the company, valued at $4,565,530.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.18% of the company’s stock.

About ArcBest

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.