ArcBest (NASDAQ:ARCB) Announces Quarterly Earnings Results, Beats Estimates By $0.22 EPS

ArcBest (NASDAQ:ARCBGet Free Report) issued its quarterly earnings data on Friday. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.22, RTT News reports. ArcBest had a return on equity of 14.27% and a net margin of 4.54%. During the same quarter in the previous year, the firm earned $2.47 earnings per share.

ArcBest Stock Down 2.1 %

ArcBest stock traded down $1.94 during midday trading on Friday, hitting $92.57. The stock had a trading volume of 234,276 shares, compared to its average volume of 243,519. The business has a fifty day moving average price of $101.59 and a 200 day moving average price of $106.03. ArcBest has a 12 month low of $91.01 and a 12 month high of $153.60. The stock has a market cap of $2.17 billion, a P/E ratio of 11.42, a P/E/G ratio of 1.78 and a beta of 1.53. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09.

ArcBest Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.52%. ArcBest’s dividend payout ratio (DPR) is presently 5.93%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ARCB. Jefferies Financial Group cut their price target on ArcBest from $140.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company cut their price target on ArcBest from $115.00 to $105.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Wolfe Research cut ArcBest from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, October 3rd. Finally, TD Cowen lowered ArcBest from a “buy” rating to a “hold” rating and dropped their target price for the company from $131.00 to $114.00 in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $122.91.

Get Our Latest Stock Analysis on ArcBest

Insiders Place Their Bets

In other news, Director Craig E. Philip sold 3,900 shares of ArcBest stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $109.91, for a total value of $428,649.00. Following the completion of the transaction, the director now directly owns 23,250 shares of the company’s stock, valued at approximately $2,555,407.50. The trade was a 14.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael E. Newcity sold 10,443 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the completion of the transaction, the senior vice president now directly owns 5,051 shares in the company, valued at $609,150.60. This represents 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.

ArcBest Company Profile

(Get Free Report)

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.

See Also

Earnings History for ArcBest (NASDAQ:ARCB)

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