ArcBest Corporation (NASDAQ:ARCB) posted its quarterly earnings data on Friday. The transportation company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.01, Bloomberg Earnings reports. ArcBest Corporation had a return on equity of 4.92% and a net margin of 0.83%. The business had revenue of $744.30 million for the quarter, compared to analysts’ expectations of $750.16 million. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis.
Shares of ArcBest Corporation (NASDAQ ARCB) traded up $0.70 during midday trading on Friday, hitting $33.00. The stock had a trading volume of 396,331 shares, compared to its average volume of 214,433. ArcBest Corporation has a 1 year low of $16.95 and a 1 year high of $34.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $848.30, a PE ratio of 26.83 and a beta of 1.78.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Tuesday, November 14th will be given a dividend of $0.08 per share. The ex-dividend date is Monday, November 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.97%. ArcBest Corporation’s dividend payout ratio is presently 34.41%.
In related news, COO James A. Ingram sold 6,918 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $27.14, for a total transaction of $187,754.52. Following the sale, the chief operating officer now owns 43,500 shares of the company’s stock, valued at approximately $1,180,590. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael R. Johns sold 6,593 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $29.98, for a total value of $197,658.14. Following the sale, the vice president now directly owns 35,700 shares in the company, valued at approximately $1,070,286. The disclosure for this sale can be found here. Insiders have sold a total of 14,281 shares of company stock worth $408,513 in the last ninety days. Insiders own 0.97% of the company’s stock.
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Several research firms have weighed in on ARCB. Stifel Nicolaus reissued a “hold” rating on shares of ArcBest Corporation in a research report on Thursday, August 3rd. TheStreet raised ArcBest Corporation from a “c” rating to a “b-” rating in a research report on Friday, July 28th. Cowen and Company reaffirmed a “buy” rating and set a $29.00 price target on shares of ArcBest Corporation in a research report on Sunday, July 30th. Morgan Stanley reaffirmed an “equal weight” rating and set a $22.00 price target (up previously from $21.00) on shares of ArcBest Corporation in a research report on Thursday, October 5th. Finally, BidaskClub cut ArcBest Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $28.83.
About ArcBest Corporation
ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).
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