ArcBest Corp. (ARCB) Trading Up 2.6%
ArcBest Corp. (NASDAQ:ARCB) shares were up 2.6% during mid-day trading on Tuesday . The company traded as high as $18.44 and last traded at $18.39, with a volume of 87,128 shares trading hands. The stock had previously closed at $17.92.
A number of research analysts have issued reports on ARCB shares. Zacks Investment Research upgraded ArcBest Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Deutsche Bank AG set a $20.00 price target on ArcBest Corp. and gave the company a “hold” rating in a research report on Thursday, July 21st. Finally, Citigroup Inc. dropped their price target on ArcBest Corp. from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, July 11th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $21.25.
The stock has a 50 day moving average price of $17.86 and a 200 day moving average price of $18.75. The company has a market cap of $473.52 million and a price-to-earnings ratio of 17.25.
ArcBest Corp. (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.05. The business earned $676.60 million during the quarter, compared to analyst estimates of $683.12 million. The company’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm earned $0.75 EPS. Equities analysts expect that ArcBest Corp. will post $0.90 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Tuesday, August 9th.
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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