ArcBest Corp (NASDAQ:ARCB) – Seaport Global Securities issued their FY2017 earnings estimates for shares of ArcBest in a report issued on Tuesday. Seaport Global Securities analyst W. Milby anticipates that the transportation company will earn $1.22 per share for the year. Seaport Global Securities has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for ArcBest’s Q4 2017 earnings at $0.28 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.
Several other research analysts also recently weighed in on ARCB. Zacks Investment Research downgraded shares of ArcBest from a “buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub downgraded shares of ArcBest from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Cowen reaffirmed a “market perform” rating and set a $33.00 price objective (up from $29.00) on shares of ArcBest in a research report on Monday, November 6th. Morgan Stanley reaffirmed an “equal weight” rating and set a $22.00 price objective (up from $21.00) on shares of ArcBest in a research report on Thursday, October 5th. Finally, ValuEngine downgraded shares of ArcBest from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. ArcBest has an average rating of “Hold” and an average price target of $32.14.
ArcBest (NASDAQ:ARCB) last released its earnings results on Friday, November 3rd. The transportation company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.01. The business had revenue of $744.30 million for the quarter, compared to the consensus estimate of $750.16 million. ArcBest had a net margin of 0.88% and a return on equity of 5.34%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the firm posted $0.48 earnings per share.
In other ArcBest news, Director William Legg sold 6,153 shares of ArcBest stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $37.52, for a total value of $230,860.56. Following the completion of the sale, the director now directly owns 36,147 shares in the company, valued at $1,356,235.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Janice E. Stipp sold 3,700 shares of ArcBest stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $38.09, for a total transaction of $140,933.00. Following the completion of the sale, the director now 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 worth $499,794 over the last ninety days. 0.97% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in ArcBest by 3.9% in the second quarter. Vanguard Group Inc. now owns 2,216,925 shares of the transportation company’s stock valued at $45,669,000 after acquiring an additional 83,738 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in ArcBest by 4.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 91,340 shares of the transportation company’s stock valued at $3,055,000 after acquiring an additional 3,990 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in ArcBest in the third quarter valued at approximately $776,000. OxFORD Asset Management LLP acquired a new stake in ArcBest in the third quarter valued at approximately $1,236,000. Finally, Convergence Investment Partners LLC acquired a new stake in ArcBest in the third quarter valued at approximately $568,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.
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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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