ArcBest (NASDAQ:ARCB) Posts Earnings Results, Beats Expectations By $0.25 EPS

ArcBest (NASDAQ:ARCBGet Free Report) issued its earnings results on Tuesday. The transportation company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.25, MarketWatch Earnings reports. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.09 billion. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The business’s revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.45 earnings per share.

ArcBest Stock Performance

Shares of ArcBest stock opened at $139.81 on Friday. The company has a market capitalization of $3.31 billion, a PE ratio of 17.68 and a beta of 1.45. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.33 and a current ratio of 1.26. The company has a 50-day simple moving average of $119.24 and a two-hundred day simple moving average of $111.61. ArcBest has a one year low of $82.18 and a one year high of $146.24.

ArcBest Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 16th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $0.48 dividend on an annualized basis and a yield of 0.34%. ArcBest’s dividend payout ratio is presently 6.07%.

Analyst Ratings Changes

A number of analysts have recently issued reports on ARCB shares. Stephens boosted their target price on shares of ArcBest from $165.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday. TD Cowen boosted their target price on shares of ArcBest from $141.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday. StockNews.com raised shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ArcBest in a research note on Monday, January 29th. They issued a “buy” rating and a $148.00 price objective for the company. Finally, UBS Group upped their price objective on shares of ArcBest from $110.00 to $119.00 and gave the stock a “neutral” rating in a research note on Thursday, November 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, ArcBest presently has a consensus rating of “Moderate Buy” and an average target price of $142.33.

Check Out Our Latest Analysis on ArcBest

Insiders Place Their Bets

In other ArcBest news, Director Janice E. Stipp sold 3,390 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $122.42, for a total value of $415,003.80. Following the completion of the transaction, the director now directly owns 17,710 shares in the company, valued at $2,168,058.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.65% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ArcBest

Hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. acquired a new position in shares of ArcBest during the second quarter valued at about $37,000. Tower Research Capital LLC TRC increased its holdings in shares of ArcBest by 1,668.9% during the first quarter. Tower Research Capital LLC TRC now owns 796 shares of the transportation company’s stock valued at $73,000 after acquiring an additional 751 shares in the last quarter. Ancora Advisors LLC acquired a new position in shares of ArcBest during the first quarter valued at about $56,000. Point72 Hong Kong Ltd acquired a new position in shares of ArcBest during the second quarter valued at about $58,000. Finally, State of Wyoming increased its holdings in shares of ArcBest by 100.3% during the second quarter. State of Wyoming now owns 1,274 shares of the transportation company’s stock valued at $126,000 after acquiring an additional 638 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

About ArcBest

(Get Free Report)

ArcBest Corporation provides freight transportation and integrated logistics services. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

Further Reading

Earnings History for ArcBest (NASDAQ:ARCB)

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