ArcBest (NASDAQ:ARCB) Issues Earnings Results

ArcBest (NASDAQ:ARCB) released its earnings results on Tuesday. The transportation company reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.19), Yahoo Finance reports. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. ArcBest had a return on equity of 15.27% and a net margin of 2.80%. ArcBest’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 earnings per share.

ArcBest Stock Up 1.7 %

ARCB stock opened at $110.25 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.23 and a quick ratio of 1.26. ArcBest has a 1-year low of $82.18 and a 1-year high of $153.60. The firm has a fifty day moving average price of $138.58 and a two-hundred day moving average price of $125.60. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 0.48 and a beta of 1.56.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.48 annualized dividend and a yield of 0.44%. ArcBest’s dividend payout ratio is presently 9.66%.

Insider Buying and Selling at ArcBest

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $141.58, for a total transaction of $283,160.00. Following the completion of the sale, the insider now owns 32,247 shares in the company, valued at $4,565,530.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.65% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Stephens increased their price objective on shares of ArcBest from $165.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ArcBest in a research report on Monday, January 29th. They issued a “buy” rating and a $148.00 price objective on the stock. TD Cowen dropped their price objective on shares of ArcBest from $177.00 to $148.00 and set a “buy” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. dropped their target price on shares of ArcBest from $164.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, UBS Group dropped their target price on shares of ArcBest from $150.00 to $126.00 and set a “neutral” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, ArcBest currently has an average rating of “Moderate Buy” and an average price target of $143.38.

ArcBest Company Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.