ArcBest Corp. (ARCB) Stock Price Up 6.7%
ArcBest Corp. (NASDAQ:ARCB) rose 6.7% on Friday . The stock 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.
ARCB has been the subject of several research reports. Deutsche Bank AG set a $20.00 price objective on ArcBest Corp. and gave the company a “hold” rating in a research report on Thursday, July 21st. Stifel Nicolaus cut ArcBest Corp. from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. They noted that the move was a valuation call. Zacks Investment Research cut ArcBest Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, April 26th. Finally, Citigroup Inc. reduced their price objective on ArcBest Corp. from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, July 11th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $21.25.
The company has a 50-day moving average of $17.12 and a 200 day moving average of $18.90. The stock has a market capitalization of $481.51 million and a PE ratio of 17.53.
ArcBest Corp. (NASDAQ:ARCB) last released its earnings results on Friday, July 29th. The company reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.05. The business earned $676.60 million during the quarter, compared to analysts’ expectations of $683.12 million. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 EPS. Equities analysts predict that ArcBest Corp. will post $0.90 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Tuesday, August 9th.
Several hedge funds and institutional investors recently bought and sold shares of the company. Sei Investments Co. raised its position in 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 period. Boston Partners bought a new position in ArcBest Corp. during the fourth quarter valued at $1,594,000. Bank of Montreal Can raised its position in 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 period. Finally, Matarin Capital Management LLC bought a new position in ArcBest Corp. during the fourth quarter valued at $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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