ArcBest Corp (NASDAQ:ARCB) – Investment analysts at SunTrust Banks reduced their Q3 2019 EPS estimates for shares of ArcBest in a note issued to investors on Wednesday, June 12th, according to Zacks Investment Research. SunTrust Banks analyst S. Benjamin now expects that the transportation company will post earnings of $1.43 per share for the quarter, down from their previous estimate of $1.49. SunTrust Banks also issued estimates for ArcBest’s Q4 2019 earnings at $0.95 EPS and Q4 2020 earnings at $1.08 EPS.
ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Thursday, May 2nd. The transportation company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.13). The company had revenue of $711.84 million during the quarter, compared to the consensus estimate of $724.33 million. ArcBest had a net margin of 2.00% and a return on equity of 14.19%. ArcBest’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 EPS.
Several other equities analysts have also recently issued reports on the stock. Mizuho restated a “buy” rating and issued a $38.00 price target on shares of ArcBest in a research report on Tuesday, July 2nd. BidaskClub raised shares of ArcBest from a “sell” rating to a “hold” rating in a research note on Thursday, June 20th. TheStreet lowered shares of ArcBest from a “b-” rating to a “c+” rating in a research report on Tuesday, May 28th. Cowen raised shares of ArcBest from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Wednesday, May 22nd. Finally, Zacks Investment Research lowered shares of ArcBest from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $39.00.
NASDAQ:ARCB traded down $0.21 on Friday, hitting $27.24. The company had a trading volume of 108,950 shares, compared to its average volume of 223,398. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.39. ArcBest has a 52 week low of $24.68 and a 52 week high of $51.45. The company’s 50 day moving average price is $26.65. The stock has a market cap of $694.97 million, a PE ratio of 7.06 and a beta of 2.09.
Institutional investors and hedge funds have recently bought and sold shares of the company. Pearl River Capital LLC purchased a new position in ArcBest during the first quarter valued at approximately $68,000. PNC Financial Services Group Inc. grew its stake in ArcBest by 13.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,163 shares of the transportation company’s stock valued at $107,000 after acquiring an additional 375 shares in the last quarter. Neuburgh Advisers LLC grew its stake in ArcBest by 15.1% during the fourth quarter. Neuburgh Advisers LLC now owns 3,520 shares of the transportation company’s stock valued at $121,000 after acquiring an additional 462 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new position in ArcBest during the first quarter valued at approximately $122,000. Finally, Sun Life Financial INC grew its stake in ArcBest by 596.2% during the fourth quarter. Sun Life Financial INC now owns 3,885 shares of the transportation company’s stock valued at $133,000 after acquiring an additional 3,327 shares in the last quarter. Hedge funds and other institutional investors own 98.77% of the company’s stock.
ArcBest Company Profile
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.