ArcBest (ARCB) Rating Reiterated by Seaport Global Securities

ArcBest (NASDAQ:ARCB)‘s stock had its “neutral” rating reissued by equities research analysts at Seaport Global Securities in a research report issued on Tuesday, January 16th. Seaport Global Securities also issued estimates for ArcBest’s Q4 2017 earnings at $0.28 EPS, FY2017 earnings at $1.22 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.

Other research analysts have also recently issued research reports about the company. BidaskClub cut ArcBest from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Buckingham Research boosted their price target on ArcBest from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, November 6th. ValuEngine cut ArcBest from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $28.00 price target on shares of ArcBest in a research note on Thursday, September 21st. Finally, Zacks Investment Research cut ArcBest from a “buy” rating to a “hold” rating in a research note on Monday, October 9th. One equities research 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. The company has a consensus rating of “Hold” and a consensus target price of $34.63.

Shares of ArcBest (NASDAQ:ARCB) traded down $0.50 during midday trading on Tuesday, hitting $32.45. The stock had a trading volume of 458,073 shares, compared to its average volume of 322,298. ArcBest has a 52 week low of $16.95 and a 52 week high of $39.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.30 and a quick ratio of 1.26. The stock has a market capitalization of $831.92, a P/E ratio of 14.49 and a beta of 1.71.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Wednesday, January 31st. The transportation company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.07. ArcBest had a return on equity of 5.82% and a net margin of 2.11%. The company had revenue of $710.72 million during the quarter, compared to the consensus estimate of $723.69 million. During the same quarter in the prior year, the business earned $0.28 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. sell-side analysts expect that ArcBest will post 2.23 earnings per share for the current fiscal year.

In other news, Director Janice E. Stipp sold 3,700 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $38.09, for a total transaction of $140,933.00. Following the completion of the transaction, the director now directly owns 20,200 shares of the company’s stock, valued at $769,418. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven Spinner sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $32.00, for a total value of $128,000.00. Following the transaction, the director now directly owns 24,700 shares of the company’s stock, valued at $790,400. The disclosure for this sale can be found here. Insiders have sold 13,853 shares of company stock valued at $499,794 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA grew its holdings in ArcBest by 61.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,757 shares of the transportation company’s stock worth $160,000 after buying an additional 2,957 shares in the last quarter. Teacher Retirement System of Texas bought a new position in ArcBest in the 4th quarter worth approximately $294,000. Stephens Inc. AR bought a new position in ArcBest in the 3rd quarter worth approximately $299,000. Crossmark Global Holdings Inc. bought a new position in ArcBest in the 3rd quarter worth approximately $414,000. Finally, Petrus Trust Company LTA grew its holdings in ArcBest by 39.8% in the 2nd quarter. Petrus Trust Company LTA now owns 14,047 shares of the transportation company’s stock worth $289,000 after buying an additional 3,996 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

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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).

Analyst Recommendations for ArcBest (NASDAQ:ARCB)

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