ArcBest (NASDAQ:ARCB) Issues Earnings Results

ArcBest (NASDAQ:ARCB) issued its quarterly earnings data on Tuesday. The transportation company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.19), Yahoo Finance reports. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm posted $1.58 earnings per share. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year.

ArcBest Stock Performance

ARCB traded down $0.77 during midday trading on Wednesday, hitting $110.14. 183,524 shares of the company traded hands, compared to its average volume of 313,135. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $2.59 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 0.56 and a beta of 1.49. The company’s 50-day moving average is $139.19 and its 200 day moving average is $125.72. ArcBest has a 52 week low of $82.18 and a 52 week high of $153.60.

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Thursday, May 9th. ArcBest’s dividend payout ratio is currently 6.07%.

Insider Buying and Selling at ArcBest

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $141.58, for a total transaction of $283,160.00. Following the transaction, the insider now owns 32,247 shares in the company, valued at approximately $4,565,530.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ARCB shares. Stifel Nicolaus boosted their target price on shares of ArcBest from $153.00 to $159.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. StockNews.com upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a report on Friday, January 26th. JPMorgan Chase & Co. dropped their target price on shares of ArcBest from $164.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday. The Goldman Sachs Group boosted their target price on shares of ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of ArcBest in a report on Monday, January 29th. They set a “buy” rating and a $148.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $145.92.

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.