Seaport Global Securities restated their neutral rating on shares of ArcBest (NASDAQ:ARCB) in a report published on Tuesday. Seaport Global Securities also issued estimates for ArcBest’s Q4 2017 earnings at $0.28 EPS, FY2017 earnings at $1.22 EPS, Q1 2018 earnings at ($0.12) EPS, Q2 2018 earnings at $0.78 EPS, Q3 2018 earnings at $0.86 EPS, Q4 2018 earnings at $0.55 EPS, FY2018 earnings at $2.06 EPS, Q1 2019 earnings at ($0.03) EPS, Q2 2019 earnings at $0.90 EPS, Q3 2019 earnings at $0.97 EPS, Q4 2019 earnings at $0.69 EPS and FY2019 earnings at $2.53 EPS.
Other analysts also recently issued reports about the company. Zacks Investment Research downgraded ArcBest from a buy rating to a hold rating in a research note on Wednesday. BidaskClub downgraded ArcBest from a buy rating to a hold rating in a research note on Wednesday, January 10th. Buckingham Research increased their price objective on ArcBest from $29.00 to $33.00 and gave the stock a neutral rating in a research note on Monday, November 6th. ValuEngine downgraded ArcBest from a buy rating to a hold rating in a research note on Monday, October 2nd. Finally, Stifel Nicolaus reissued a hold rating and issued a $28.00 price objective on shares of ArcBest in a research note on Thursday, September 21st. One research analyst has rated the stock with a sell rating and nine have issued a hold rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $32.14.
Shares of ArcBest (ARCB) traded up $0.50 during trading on Tuesday, hitting $36.95. The stock had a trading volume of 288,394 shares, compared to its average volume of 378,250. The stock has a market capitalization of $925.49, a P/E ratio of 39.73 and a beta of 1.83. ArcBest has a 12-month low of $16.95 and a 12-month high of $38.75. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.33.
ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Friday, November 3rd. The transportation company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.58 by $0.01. The firm had revenue of $744.30 million during the quarter, compared to the consensus estimate of $750.16 million. ArcBest had a return on equity of 5.34% and a net margin of 0.88%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 earnings per share. equities analysts expect that ArcBest will post 1.29 EPS for the current fiscal year.
In related news, Director William Legg sold 6,153 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $37.52, for a total transaction of $230,860.56. Following the completion of the sale, the director now directly owns 36,147 shares of the company’s stock, valued at $1,356,235.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Janice E. Stipp sold 3,700 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $38.09, for a total value of $140,933.00. Following the sale, the director now directly owns 20,200 shares of the company’s stock, valued at $769,418. The disclosure for this sale can be found here. Insiders have sold 13,853 shares of company stock valued at $499,794 over the last ninety days. 0.97% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in ArcBest by 3.9% during the second quarter. Vanguard Group Inc. now owns 2,216,925 shares of the transportation company’s stock valued at $45,669,000 after purchasing an additional 83,738 shares during the period. Towle & Co. grew its holdings in ArcBest by 4.0% during the third quarter. Towle & Co. now owns 984,100 shares of the transportation company’s stock valued at $32,918,000 after purchasing an additional 37,976 shares during the period. Ameriprise Financial Inc. grew its holdings in ArcBest by 26.0% during the second quarter. Ameriprise Financial Inc. now owns 524,005 shares of the transportation company’s stock valued at $10,792,000 after purchasing an additional 108,200 shares during the period. Northern Trust Corp grew its holdings in ArcBest by 5.5% during the second quarter. Northern Trust Corp now owns 494,643 shares of the transportation company’s stock valued at $10,190,000 after purchasing an additional 25,933 shares during the period. Finally, Eagle Boston Investment Management Inc. grew its holdings in ArcBest by 10.4% during the third quarter. Eagle Boston Investment Management Inc. now owns 330,904 shares of the transportation company’s stock valued at $11,267,000 after purchasing an additional 31,060 shares during the period. 89.53% of the stock is owned by institutional investors.
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ArcBest Company Profile
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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