ArcBest Corp (ARCB) Expected to Post Quarterly Sales of $685.80 Million

Equities analysts predict that ArcBest Corp (NASDAQ:ARCB) will announce $685.80 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for ArcBest’s earnings. The highest sales estimate is $702.99 million and the lowest is $678.30 million. ArcBest reported sales of $651.09 million during the same quarter last year, which would indicate a positive year over year growth rate of 5.3%. The company is expected to issue its next earnings results on Friday, May 4th.

According to Zacks, analysts expect that ArcBest will report full-year sales of $685.80 million for the current financial year, with estimates ranging from $2.93 billion to $3.05 billion. For the next financial year, analysts expect that the firm will report sales of $3.19 billion per share, with estimates ranging from $3.11 billion to $3.26 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover ArcBest.

ArcBest (NASDAQ:ARCB) last released its earnings results on Wednesday, January 31st. The transportation company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.07. The firm had revenue of $710.72 million during the quarter, compared to the consensus estimate of $723.69 million. ArcBest had a return on equity of 5.82% and a net margin of 2.11%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 EPS.

A number of analysts have recently weighed in on the company. Citigroup upped their target price on ArcBest from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday. Cowen reiterated a “market perform” rating and set a $39.00 target price (up from $33.00) on shares of ArcBest in a research report on Thursday, February 1st. Stifel Nicolaus reiterated a “sell” rating and set a $35.00 target price on shares of ArcBest in a research report on Thursday, January 25th. Zacks Investment Research upgraded ArcBest from a “hold” rating to a “strong-buy” rating and set a $44.00 target price for the company in a research report on Monday, January 22nd. Finally, Seaport Global Securities reiterated a “neutral” rating on shares of ArcBest in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a strong buy rating to the stock. ArcBest currently has a consensus rating of “Hold” and a consensus target price of $34.63.

In other news, Director William Legg sold 6,153 shares of the business’s stock in a transaction 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 transaction, the director now owns 36,147 shares of the company’s stock, valued at approximately $1,356,235.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Janice E. Stipp sold 3,700 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $38.09, for a total value of $140,933.00. Following the transaction, the director now directly owns 20,200 shares of the company’s stock, valued at approximately $769,418. The disclosure for this sale can be found here. Insiders have sold a total of 13,853 shares of company stock valued at $499,794 in the last three months. 0.97% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas acquired a new position in shares of ArcBest during the 4th quarter worth $294,000. Thrivent Financial For Lutherans increased its holdings in ArcBest by 6.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 14,480 shares of the transportation company’s stock worth $298,000 after purchasing an additional 870 shares in the last quarter. Stephens Inc. AR acquired a new position in ArcBest in the 3rd quarter worth about $299,000. Crossmark Global Holdings Inc. acquired a new position in ArcBest in the 3rd quarter worth about $414,000. Finally, The Manufacturers Life Insurance Company increased its holdings in ArcBest by 8.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,032 shares of the transportation company’s stock worth $434,000 after purchasing an additional 1,683 shares in the last quarter. 90.03% of the stock is owned by institutional investors.

Shares of ArcBest (NASDAQ:ARCB) opened at $32.45 on Friday. The firm has a market capitalization of $906.26, a price-to-earnings ratio of 14.49 and a beta of 1.71. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 0.32. ArcBest has a 1 year low of $16.95 and a 1 year high of $39.70.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Friday, February 9th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, February 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.99%. ArcBest’s dividend payout ratio (DPR) is currently 14.29%.

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About ArcBest

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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