ArcBest (NASDAQ:ARCB) Issues Earnings Results, Beats Expectations By $0.22 EPS

ArcBest (NASDAQ:ARCB) announced its quarterly earnings data on Friday. The transportation company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.22, RTT News reports. ArcBest had a net margin of 4.54% and a return on equity of 14.27%. During the same quarter last year, the company posted $2.47 earnings per share.

ArcBest Stock Performance

Shares of ArcBest stock traded down $1.24 on Friday, reaching $93.28. The stock had a trading volume of 225,933 shares, compared to its average volume of 243,130. The business’s 50-day moving average price is $101.59 and its two-hundred day moving average price is $106.03. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. ArcBest has a fifty-two week low of $91.01 and a fifty-two week high of $153.60. The stock has a market cap of $2.18 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 1.78 and a beta of 1.53.

ArcBest Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Tuesday, February 11th. ArcBest’s payout ratio is 5.93%.

Insider Transactions at ArcBest

In related news, SVP Michael E. Newcity sold 10,443 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the transaction, the senior vice president now owns 5,051 shares of the company’s stock, valued at approximately $609,150.60. The trade was a 67.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Craig E. Philip sold 3,900 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total transaction of $428,649.00. Following the completion of the sale, the director now directly owns 23,250 shares in the company, valued at $2,555,407.50. This trade represents a 14.36 % decrease in their position. The disclosure for this sale can be found here. 1.65% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ARCB shares. Morgan Stanley reduced their price target on shares of ArcBest from $175.00 to $170.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company cut their price objective on shares of ArcBest from $115.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. UBS Group lowered their target price on shares of ArcBest from $111.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. TD Cowen cut shares of ArcBest from a “buy” rating to a “hold” rating and lowered their target price for the company from $131.00 to $114.00 in a research note on Monday, October 14th. Finally, Citigroup raised their target price on shares of ArcBest from $110.00 to $127.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $122.91.

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.