ArcBest (NASDAQ:ARCB) Issues Quarterly Earnings Results

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

ArcBest Stock Performance

Shares of ARCB traded down $0.83 during midday trading on Wednesday, reaching $110.08. 159,439 shares of the stock were exchanged, compared to its average volume of 312,810. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 13.73, a PEG 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 business’s 50-day moving average price is $139.19 and its 200 day moving average price is $125.72. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.26 and a quick ratio of 1.26.

ArcBest Dividend Announcement

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

Insider Activity at ArcBest

In related news, insider Erin K. Gattis sold 2,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $141.58, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.18% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ARCB shares. The Goldman Sachs Group lifted their target price on ArcBest from $133.00 to $149.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Morgan Stanley lifted their price target on ArcBest from $155.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Stifel Nicolaus lifted their price target on ArcBest from $153.00 to $159.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. UBS Group lifted their price target on ArcBest from $119.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Finally, Bank of America lifted their price target on ArcBest from $141.00 to $143.00 and gave the stock an “underperform” rating in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, ArcBest currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.77.

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.