ArcBest Corp. (ARCB) Trading Down 2.3%
ArcBest Corp. (NASDAQ:ARCB) traded down 2.3% on Friday . The company traded as low as $17.25 and last traded at $17.30, with a volume of 81,586 shares. The stock had previously closed at $17.70.
A number of equities research analysts have weighed in on the stock. Stifel Nicolaus cut shares of ArcBest Corp. from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. They noted that the move was a valuation call. Deutsche Bank AG set a $20.00 price objective on shares of ArcBest Corp. and gave the stock a “hold” rating in a report on Thursday, July 21st. Citigroup Inc. cut their price objective on shares of ArcBest Corp. from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, July 11th. Finally, Zacks Investment Research cut shares of ArcBest Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, April 26th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. ArcBest Corp. currently has an average rating of “Hold” and an average target price of $21.25.
The stock has a market cap of $445.46 million and a PE ratio of 16.23. The stock has a 50-day moving average of $17.28 and a 200 day moving average of $18.89.
ArcBest Corp. (NASDAQ:ARCB) last released its earnings results on Friday, July 29th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.05. During the same period in the previous year, the business earned $0.75 EPS. The firm had revenue of $676.60 million for the quarter, compared to analysts’ expectations of $683.12 million. The company’s revenue was down 2.8% on a year-over-year basis. Analysts forecast that ArcBest Corp. will post $0.90 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 25th. Stockholders of record on Thursday, August 11th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, August 9th. This represents a $0.32 annualized dividend and a dividend yield of 1.85%.
An institutional investor recently raised its position in ArcBest Corp. stock. Bank of Montreal Can increased its position in shares of ArcBest Corp. (NASDAQ:ARCB) by 346.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 214,014 shares of the company’s stock after buying an additional 166,068 shares during the period. Bank of Montreal Can owned 0.83% of ArcBest Corp. worth $4,578,000 as of its most recent filing with the SEC.
ArcBest Corporation is a holding company of businesses providing freight transportation services and logistics solutions. The Company operates through five segments: Freight Transportation (ABF Freight) segment, Premium Logistics (Panther), Transportation Management (ABF Logistics), Emergency & Preventative Maintenance (FleetNet) and Household Goods Moving Services (ABF Moving).
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