ArcBest Corp. (ARCB) Shares Up 2.9%
ArcBest Corp. (NASDAQ:ARCB)’s share price shot up 2.9% during trading on Tuesday . The stock traded as high as $18.55 and last traded at $18.50, with a volume of 70,461 shares trading hands. The stock had previously closed at $17.97.
A number of equities analysts recently issued reports on ARCB shares. Zacks Investment Research downgraded shares of ArcBest Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, April 26th. Stifel Nicolaus downgraded shares of ArcBest Corp. from a “buy” rating to a “hold” rating in a research note 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. Finally, 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. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $21.25.
The company’s 50 day moving average price is $17.59 and its 200-day moving average price is $18.79. The stock has a market cap of $477.13 million and a PE ratio of 17.38.
ArcBest Corp. (NASDAQ:ARCB) last released its quarterly earnings results on Friday, July 29th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by $0.05. The company had revenue of $676.60 million for the quarter, compared to analysts’ expectations of $683.12 million. During the same period in the previous year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities analysts forecast that ArcBest Corp. will post $0.90 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Investors of record on Thursday, August 11th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, August 9th. This represents a $0.32 dividend on an annualized basis and a yield of 1.73%.
An institutional investor recently bought a new position in ArcBest Corp. stock. Matarin Capital Management LLC acquired a new position in shares of ArcBest Corp. (NASDAQ:ARCB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 270,178 shares of the company’s stock, valued at approximately $5,779,000. Matarin Capital Management LLC owned 1.04% of ArcBest Corp. at the end of the most recent quarter.
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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