ArcBest Corp. (ARCB) Trading 2.9% Higher
Shares of ArcBest Corp. (NASDAQ:ARCB) traded up 2.9% during trading on Tuesday . The company traded as high as $18.55 and last traded at $18.50, with a volume of 70,461 shares changing hands. The stock had previously closed at $17.97.
A number of analysts recently commented on the company. Stifel Nicolaus downgraded 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 downgraded ArcBest Corp. from a “hold” rating to a “strong sell” rating in a research report on Monday, August 15th. 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. decreased their price target 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 analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $21.25.
The stock has a market capitalization of $473.52 million and a price-to-earnings ratio of 17.25. The firm’s 50-day moving average is $17.69 and its 200 day moving average is $18.78.
ArcBest Corp. (NASDAQ:ARCB) last issued 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 firm earned $676.60 million during the quarter, compared to analysts’ expectations of $683.12 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. On average, equities research 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. Stockholders of record on Thursday, August 11th will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, August 9th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.74%.
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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