ArcBest (NASDAQ:ARCB) Issues Earnings Results

ArcBest (NASDAQ:ARCB) issued its quarterly earnings data 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. ArcBest had a net margin of 2.80% and a return on equity of 15.27%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the company earned $1.58 earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis.

ArcBest Stock Performance

ARCB traded up $0.91 on Thursday, reaching $109.27. 81,150 shares of the stock were exchanged, compared to its average volume of 314,906. The company’s 50-day moving average price is $138.58 and its 200 day moving average price is $125.60. ArcBest has a fifty-two week low of $82.18 and a fifty-two week high of $153.60. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.23 and a quick ratio of 1.26. The firm has a market capitalization of $2.57 billion, a PE ratio of 21.80, a PEG ratio of 0.48 and a beta of 1.56.

ArcBest Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.48 dividend on an annualized basis and a yield of 0.44%. ArcBest’s dividend payout ratio is currently 9.66%.

Insiders Place Their Bets

In other ArcBest news, insider Erin K. Gattis sold 2,000 shares of ArcBest stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $141.58, for a total transaction of $283,160.00. Following the completion of the transaction, the insider now owns 32,247 shares in the company, valued at approximately $4,565,530.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.65% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ARCB. TD Cowen reduced their price target on ArcBest from $177.00 to $148.00 and set a “buy” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. reduced their price target on ArcBest from $164.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday. UBS Group reduced their price target on ArcBest from $150.00 to $126.00 and set a “neutral” rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft initiated coverage on ArcBest in a report on Monday, January 29th. They set a “buy” rating and a $148.00 price objective on the stock. Finally, The Goldman Sachs Group raised their price objective on ArcBest from $133.00 to $149.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.