ArcBest (NASDAQ:ARCB)’s share price reached a new 52-week high and low during trading on Wednesday . The stock traded as low as $49.25 and last traded at $48.55, with a volume of 19560 shares changing hands. The stock had previously closed at $46.55.
Several research firms recently commented on ARCB. BidaskClub raised shares of ArcBest from a “hold” rating to a “buy” rating in a report on Wednesday. Stephens reaffirmed a “hold” rating and set a $37.00 target price on shares of ArcBest in a report on Thursday, April 12th. ValuEngine raised shares of ArcBest from a “hold” rating to a “buy” rating in a report on Saturday, March 10th. Citigroup increased their target price on shares of ArcBest from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, February 6th. Finally, Cowen reaffirmed a “market perform” rating and set a $39.00 target price (up previously from $33.00) on shares of ArcBest in a report on Thursday, February 1st. Ten analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $35.00.
The firm has a market capitalization of $1.22 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 0.55 and a beta of 1.79. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.30.
ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Thursday, May 10th. The transportation company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.36. The business had revenue of $700.00 million for the quarter, compared to analyst estimates of $689.24 million. ArcBest had a net margin of 2.68% and a return on equity of 7.79%. The company’s revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.22) EPS. equities analysts anticipate that ArcBest will post 2.49 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 29th. Shareholders of record on Tuesday, May 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Monday, May 14th. ArcBest’s dividend payout ratio (DPR) is presently 24.06%.
In other ArcBest news, SVP Michael E. Newcity sold 5,589 shares of the firm’s stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $47.00, for a total value of $262,683.00. Following the sale, the senior vice president now owns 40,000 shares of the company’s stock, valued at approximately $1,880,000. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.19% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. Highbridge Capital Management LLC bought a new stake in ArcBest in the 1st quarter worth $217,000. Foundry Partners LLC bought a new stake in ArcBest in the 1st quarter worth $5,823,000. Hancock Holding Co. bought a new stake in ArcBest in the 1st quarter worth $1,249,000. Element Capital Management LLC bought a new stake in ArcBest in the 1st quarter worth $487,000. Finally, Allianz Asset Management GmbH bought a new stake in ArcBest in the 1st quarter worth $537,000. 90.54% of the stock is currently owned by institutional investors and hedge funds.
ArcBest Corporation provides freight transportation services and integrated logistics solutions worldwide. 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.
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