ArcBest (NASDAQ:ARCB) Releases Earnings Results

ArcBest (NASDAQ:ARCB) announced its earnings results on Friday. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business earned $2.47 EPS.

ArcBest Stock Up 1.2 %

Shares of ArcBest stock opened at $95.61 on Friday. The company has a market capitalization of $2.24 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 1.78 and a beta of 1.53. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The business has a 50-day moving average of $101.30 and a two-hundred day moving average of $105.75. ArcBest has a 1 year low of $91.01 and a 1 year high of $153.60.

ArcBest Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.48 annualized dividend and a yield of 0.50%. ArcBest’s dividend payout ratio is presently 5.93%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ARCB shares. Stifel Nicolaus upped their price objective on ArcBest from $109.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Wells Fargo & Company cut their price target on ArcBest from $115.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. TD Cowen lowered ArcBest from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $131.00 to $114.00 in a research report on Monday, October 14th. Morgan Stanley cut their target price 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. Finally, Jefferies Financial Group reduced their target price on shares of ArcBest from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $122.91.

Insider Activity

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

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.