ArcBest (NASDAQ:ARCB) Posts Quarterly Earnings Results, Misses Estimates By $0.19 EPS

ArcBest (NASDAQ:ARCB) released its quarterly earnings results on Tuesday. The transportation company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.19), Yahoo Finance reports. ArcBest had a return on equity of 15.27% and a net margin of 2.80%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the firm earned $1.58 EPS. The company’s quarterly revenue was down 6.3% compared to the same quarter last year.

ArcBest Stock Performance

Shares of NASDAQ:ARCB traded up $1.87 on Thursday, hitting $110.23. The company’s stock had a trading volume of 138,233 shares, compared to its average volume of 315,572. ArcBest has a 12 month low of $82.18 and a 12 month high of $153.60. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 0.48 and a beta of 1.56. The stock’s 50-day moving average is $138.58 and its two-hundred day moving average is $125.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.26 and a current ratio of 1.23.

ArcBest Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently commented on ARCB shares. JPMorgan Chase & Co. dropped their price objective on shares of ArcBest from $164.00 to $145.00 and set an “overweight” rating for the company in a research note on Wednesday. Stephens increased their target price on ArcBest from $165.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. StockNews.com raised ArcBest from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. Bank of America dropped their price target on ArcBest from $143.00 to $110.00 and set an “underperform” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley upped their price target on ArcBest from $155.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $143.38.

Insider Activity at ArcBest

In related news, insider Erin K. Gattis sold 2,000 shares of the firm’s 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 of the company’s stock, valued at $4,565,530.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.65% of the company’s stock.

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.