Analysts predict that ArcBest Co. (NASDAQ:ARCB – Get Rating) will announce $1.23 billion in sales for the current quarter, according to Zacks. Four analysts have issued estimates for ArcBest’s earnings. The highest sales estimate is $1.25 billion and the lowest is $1.18 billion. ArcBest posted sales of $829.21 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 48.3%. The business is scheduled to announce its next quarterly earnings report on Tuesday, May 3rd.
According to Zacks, analysts expect that ArcBest will report full year sales of $5.00 billion for the current financial year, with estimates ranging from $4.91 billion to $5.14 billion. For the next fiscal year, analysts anticipate that the company will report sales of $5.09 billion, with estimates ranging from $4.86 billion to $5.25 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow ArcBest.
ArcBest (NASDAQ:ARCB – Get Rating) last posted its earnings results on Tuesday, February 1st. The transportation company reported $2.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.52. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.13 billion. ArcBest had a return on equity of 24.57% and a net margin of 5.36%. The business’s revenue was up 45.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.97 earnings per share.
A number of analysts have recently issued reports on ARCB shares. Stifel Nicolaus increased their target price on ArcBest from $133.00 to $135.00 in a report on Friday, February 4th. The Goldman Sachs Group lifted their price target on ArcBest from $108.00 to $111.00 and gave the company a “neutral” rating in a report on Wednesday, February 2nd. Bank of America lowered their price target on ArcBest from $117.00 to $104.00 and set a “buy” rating on the stock in a research report on Wednesday, March 9th. Finally, StockNews.com cut ArcBest from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 10th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, ArcBest presently has a consensus rating of “Buy” and an average target price of $106.80.
NASDAQ ARCB traded up $1.85 on Friday, reaching $91.54. 13,792 shares of the stock traded hands, compared to its average volume of 427,445. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.19. The firm’s fifty day simple moving average is $89.32 and its 200 day simple moving average is $92.70. ArcBest has a 12 month low of $52.86 and a 12 month high of $125.00. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 11.23, a P/E/G ratio of 0.21 and a beta of 1.65.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 25th. Shareholders of record on Friday, February 11th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Thursday, February 10th. ArcBest’s dividend payout ratio (DPR) is presently 4.01%.
In other ArcBest news, Director Steven Spinner sold 5,000 shares of the business’s stock in a transaction dated Wednesday, February 9th. The shares were sold at an average price of $91.00, for a total value of $455,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael P. Hogan purchased 1,771 shares of the firm’s stock in a transaction dated Monday, February 7th. The shares were bought at an average cost of $84.77 per share, for a total transaction of $150,127.67. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in shares of ArcBest by 1.0% in the 4th quarter. BlackRock Inc. now owns 4,152,529 shares of the transportation company’s stock valued at $497,679,000 after buying an additional 43,094 shares during the period. LSV Asset Management raised its holdings in ArcBest by 29.9% during the 3rd quarter. LSV Asset Management now owns 638,496 shares of the transportation company’s stock worth $52,209,000 after purchasing an additional 146,968 shares during the last quarter. Bank of America Corp DE lifted its position in ArcBest by 28.6% during the 4th quarter. Bank of America Corp DE now owns 507,495 shares of the transportation company’s stock valued at $60,823,000 after purchasing an additional 112,804 shares during the period. Geode Capital Management LLC lifted its position in ArcBest by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 474,263 shares of the transportation company’s stock valued at $56,840,000 after purchasing an additional 4,107 shares during the period. Finally, Morgan Stanley boosted its stake in shares of ArcBest by 140.3% in the 2nd quarter. Morgan Stanley now owns 462,902 shares of the transportation company’s stock valued at $26,936,000 after purchasing an additional 270,233 shares during the last quarter. 92.18% of the stock is currently owned by hedge funds and other institutional investors.
About ArcBest (Get Rating)
ArcBest Corp. is a logistics company which provides end-to-end supply chain services with a focus on innovation. It operates through the following business segments: Asset-Based, ArcBest and FleetNet. The Asset-Based segment includes national, inter-regional, and regional transportation of general commodities through standard, expedited, and guaranteed less-than-truckload services.
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