ArcBest (NASDAQ:ARCB) Announces Earnings Results

ArcBest (NASDAQ:ARCB) announced its quarterly earnings data on Tuesday. The transportation company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01), Zacks reports. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. The firm had revenue of $967.08 million during the quarter, compared to the consensus estimate of $990.03 million. During the same quarter in the previous year, the business posted $1.34 earnings per share. The firm’s quarterly revenue was down 6.7% on a year-over-year basis.

ArcBest Stock Down 4.0 %

NASDAQ:ARCB opened at $56.73 on Wednesday. ArcBest has a one year low of $55.52 and a one year high of $129.83. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. The company has a market cap of $1.31 billion, a PE ratio of 7.74, a P/E/G ratio of 1.70 and a beta of 1.62. The firm’s 50 day simple moving average is $69.64 and its 200 day simple moving average is $90.83.

ArcBest Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Friday, May 9th. ArcBest’s dividend payout ratio is presently 6.55%.

Insider Buying and Selling at ArcBest

In other news, CFO John Matthew Beasley acquired 700 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the transaction, the chief financial officer now directly owns 8,142 shares in the company, valued at $609,754.38. This represents a 9.41 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ARCB. UBS Group reduced their price target on ArcBest from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Stifel Nicolaus raised their price target on ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Wells Fargo & Company reduced their price target on ArcBest from $96.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. TD Cowen dropped their price objective on ArcBest from $80.00 to $72.00 and set a “hold” rating on the stock in a research note on Wednesday. Finally, Stephens reaffirmed an “overweight” rating and set a $116.00 price objective on shares of ArcBest in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $98.00.

About ArcBest

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.