ArcBest Corp (NASDAQ:ARCB) was the target of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 1,080,000 shares, a decrease of 16.3% from the January 15th total of 1,290,000 shares. Based on an average daily trading volume, of 148,200 shares, the days-to-cover ratio is presently 7.3 days. Currently, 4.4% of the company’s stock are sold short.
NASDAQ:ARCB traded down $0.01 during trading on Friday, reaching $24.44. The company’s stock had a trading volume of 306,263 shares, compared to its average volume of 185,872. The firm has a market cap of $623.65 million, a price-to-earnings ratio of 16.29 and a beta of 1.89. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.41 and a current ratio of 1.50. The firm has a 50 day moving average of $26.08 and a 200-day moving average of $28.40. ArcBest has a 12 month low of $21.80 and a 12 month high of $39.44.
ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Thursday, January 30th. The transportation company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. The firm had revenue of $717.40 million during the quarter, compared to the consensus estimate of $721.85 million. ArcBest had a return on equity of 9.49% and a net margin of 1.34%. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 EPS. Equities research analysts forecast that ArcBest will post 2.51 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th will be paid a $0.08 dividend. The ex-dividend date is Monday, February 10th. This represents a $0.32 dividend on an annualized basis and a yield of 1.31%. ArcBest’s dividend payout ratio (DPR) is presently 11.11%.
A number of large investors have recently made changes to their positions in the business. California State Teachers Retirement System grew its stake in ArcBest by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 39,688 shares of the transportation company’s stock valued at $1,208,000 after purchasing an additional 474 shares during the period. Stephens Inc. AR grew its stake in ArcBest by 6.3% in the 3rd quarter. Stephens Inc. AR now owns 8,401 shares of the transportation company’s stock valued at $256,000 after purchasing an additional 500 shares during the period. Meridian Investment Counsel Inc. grew its stake in shares of ArcBest by 3.8% during the 3rd quarter. Meridian Investment Counsel Inc. now owns 16,250 shares of the transportation company’s stock worth $495,000 after acquiring an additional 600 shares during the period. James Investment Research Inc. grew its stake in shares of ArcBest by 6.3% during the 3rd quarter. James Investment Research Inc. now owns 12,195 shares of the transportation company’s stock worth $371,000 after acquiring an additional 720 shares during the period. Finally, United Services Automobile Association grew its stake in shares of ArcBest by 14.2% during the 2nd quarter. United Services Automobile Association now owns 8,778 shares of the transportation company’s stock worth $247,000 after acquiring an additional 1,090 shares during the period. Hedge funds and other institutional investors own 91.95% of the company’s stock.
Several brokerages recently issued reports on ARCB. Loop Capital reiterated a “hold” rating and set a $26.00 price target on shares of ArcBest in a report on Monday. TheStreet downgraded ArcBest from a “b-” rating to a “c+” rating in a report on Wednesday, December 11th. BidaskClub downgraded ArcBest from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 24th. Morgan Stanley decreased their price target on ArcBest from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Finally, Stephens decreased their price target on ArcBest from $34.00 to $29.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $33.20.
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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