ArcBest Corp. (ARCB) Stock Price Down 2.3%
Shares of ArcBest Corp. (NASDAQ:ARCB) dropped 2.3% on Friday . The stock traded as low as $17.25 and last traded at $17.30, with a volume of 81,586 shares changing hands. The stock had previously closed at $17.70.
ARCB has been the topic of several recent analyst reports. 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. Zacks Investment Research cut shares of ArcBest Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, April 26th. Finally, Citigroup Inc. cut their price target 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. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. ArcBest Corp. has an average rating of “Hold” and an average target price of $21.25.
The firm has a market cap of $445.46 million and a PE ratio of 16.23. The company’s 50 day moving average price is $17.28 and its 200 day moving average price is $18.89.
ArcBest Corp. (NASDAQ:ARCB) last issued its quarterly earnings data 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. The firm earned $676.60 million during the quarter, compared to analyst estimates of $683.12 million. During the same quarter last year, the business earned $0.75 earnings per share. ArcBest Corp.’s quarterly revenue was down 2.8% on a year-over-year basis. On average, equities analysts forecast that ArcBest Corp. will post $0.90 earnings per share for the current year.
The business also recently declared 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 is Tuesday, August 9th. This represents a $0.32 annualized dividend and a yield of 1.85%.
A hedge fund recently raised its stake in ArcBest Corp. stock. Bank of Montreal Can increased its stake in shares of ArcBest Corp. (NASDAQ:ARCB) by 346.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 214,014 shares of the company’s stock after buying an additional 166,068 shares during the period. Bank of Montreal Can owned approximately 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).