Seaport Global Securities Comments on ArcBest Corporation’s Q3 2018 Earnings (ARCB)
ArcBest Corporation (NASDAQ:ARCB) – Analysts at Seaport Global Securities reduced their Q3 2018 earnings per share estimates for ArcBest Corporation in a research report issued to clients and investors on Wednesday. Seaport Global Securities analyst R. Wood now forecasts that the transportation company will post earnings of $0.71 per share for the quarter, down from their prior estimate of $0.72. Seaport Global Securities also issued estimates for ArcBest Corporation’s Q4 2018 earnings at $0.40 EPS.
ARCB has been the topic of a number of other reports. Deutsche Bank AG reissued a “hold” rating and set a $29.00 target price (up from $26.00) on shares of ArcBest Corporation in a report on Wednesday, August 9th. Cowen and Company reiterated a “buy” rating and set a $29.00 target price on shares of ArcBest Corporation in a research report on Sunday, July 30th. Zacks Investment Research upgraded ArcBest Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. TheStreet upgraded ArcBest Corporation from a “c” rating to a “b-” rating in a research report on Friday, July 28th. Finally, ValuEngine upgraded ArcBest Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $28.00.
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ArcBest Corporation (NASDAQ:ARCB) traded up 0.84% during midday trading on Friday, hitting $30.10. The stock had a trading volume of 10,220 shares. The firm has a 50-day moving average price of $26.06 and a 200-day moving average price of $24.07. The firm has a market capitalization of $773.75 million, a price-to-earnings ratio of 34.80 and a beta of 1.70. ArcBest Corporation has a 1-year low of $16.95 and a 1-year high of $33.95.
ArcBest Corporation (NASDAQ:ARCB) last announced its quarterly earnings results on Friday, July 28th. The transportation company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.48 by $0.09. ArcBest Corporation had a return on equity of 4.92% and a net margin of 0.83%. The company had revenue of $720.40 million for the quarter, compared to the consensus estimate of $721.11 million. During the same quarter last year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year.
A number of large investors have recently added to or reduced their stakes in the business. Teachers Advisors LLC grew its position in shares of ArcBest Corporation by 2.8% in the fourth quarter. Teachers Advisors LLC now owns 63,851 shares of the transportation company’s stock valued at $1,765,000 after purchasing an additional 1,723 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in ArcBest Corporation by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 9,700 shares of the transportation company’s stock valued at $252,000 after buying an additional 100 shares during the period. Shell Asset Management Co. bought a new stake in ArcBest Corporation during the first quarter valued at $679,000. Strs Ohio boosted its stake in ArcBest Corporation by 7.1% during the first quarter. Strs Ohio now owns 28,700 shares of the transportation company’s stock valued at $746,000 after buying an additional 1,900 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in ArcBest Corporation by 30.2% during the first quarter. Russell Investments Group Ltd. now owns 219,233 shares of the transportation company’s stock valued at $5,701,000 after buying an additional 50,899 shares during the period. 85.83% of the stock is owned by institutional investors and hedge funds.
In other ArcBest Corporation news, insider Daniel E. Loe sold 9,929 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $25.87, for a total value of $256,863.23. Following the completion of the sale, the insider now directly owns 33,600 shares of the company’s stock, valued at $869,232. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael R. Johns sold 6,593 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $29.98, for a total value of $197,658.14. Following the completion of the sale, the vice president now directly owns 35,700 shares of the company’s stock, valued at $1,070,286. The disclosure for this sale can be found here. Insiders have sold 24,210 shares of company stock worth $665,376 over the last quarter. 0.97% of the stock is currently owned by corporate insiders.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 22nd. Investors of record on Tuesday, August 8th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, August 4th. This represents a $0.32 dividend on an annualized basis and a yield of 1.07%. ArcBest Corporation’s dividend payout ratio (DPR) is currently 37.21%.
ArcBest Corporation 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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