ArcBest Corp. (ARCB) Trading Up 6.7%
ArcBest Corp. (NASDAQ:ARCB) was up 6.7% during mid-day trading on Friday . The company traded as high as $18.79 and last traded at $18.72, with a volume of 62,139 shares trading hands. The stock had previously closed at $17.55.
A number of equities research analysts have issued reports on ARCB shares. Zacks Investment Research cut shares of ArcBest Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, April 26th. Deutsche Bank AG set a $20.00 price target on shares of ArcBest Corp. and gave the company a “hold” rating in a report on Thursday, July 21st. 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. Finally, Citigroup Inc. decreased their price target on shares of ArcBest Corp. from $20.00 to $17.00 and set a “neutral” rating for the company 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. ArcBest Corp. currently has an average rating of “Hold” and a consensus price target of $21.25.
The firm’s 50 day moving average is $17.05 and its 200-day moving average is $18.91. The company has a market capitalization of $481.51 million and a price-to-earnings ratio of 17.53.
ArcBest Corp. (NASDAQ:ARCB) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.43 by $0.05. During the same quarter in the prior year, the company earned $0.75 earnings per share. The company had revenue of $676.60 million for the quarter, compared to analyst estimates of $683.12 million. The company’s quarterly revenue 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, August 9th. This represents a $0.32 annualized dividend and a yield of 1.71%.
A number of large investors have modified their holdings of ARCB. Sei Investments Co. raised its stake in shares of ArcBest Corp. by 9.4% in the fourth quarter. Sei Investments Co. now owns 51,043 shares of the company’s stock valued at $1,092,000 after buying an additional 4,377 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of ArcBest Corp. by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 422,723 shares of the company’s stock valued at $9,042,000 after buying an additional 16,588 shares during the last quarter. Boston Partners acquired a new stake in shares of ArcBest Corp. during the fourth quarter valued at about $1,594,000. Bank of Montreal Can raised its stake in shares of ArcBest Corp. by 346.4% in the fourth quarter. Bank of Montreal Can now owns 214,014 shares of the company’s stock valued at $4,578,000 after buying an additional 166,068 shares during the last quarter. Finally, Matarin Capital Management LLC acquired a new stake in shares of ArcBest Corp. during the fourth quarter valued at about $5,779,000.
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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