ArcBest Corporation (NASDAQ:ARCB) announced its earnings results on Friday. The transportation company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.48 by $0.09, Bloomberg Earnings reports. The firm had revenue of $720.40 million for the quarter, compared to the consensus estimate of $721.11 million. ArcBest Corporation had a net margin of 0.64% and a return on equity of 4.14%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 EPS.

ArcBest Corporation (ARCB) traded up 25.35% during mid-day trading on Friday, reaching $26.95. 664,112 shares of the company’s stock traded hands. ArcBest Corporation has a 1-year low of $16.95 and a 1-year high of $33.95. The firm has a market cap of $692.35 million, a PE ratio of 31.16 and a beta of 1.56. The firm has a 50 day moving average of $21.14 and a 200 day moving average of $24.91.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Tuesday, August 8th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 4th. This represents a $0.32 annualized dividend and a yield of 1.19%. ArcBest Corporation’s dividend payout ratio is 37.21%.

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Several institutional investors have recently modified their holdings of ARCB. Mason Street Advisors LLC raised its position in shares of ArcBest Corporation by 7.0% in the first quarter. Mason Street Advisors LLC now owns 5,569 shares of the transportation company’s stock valued at $145,000 after buying an additional 362 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of ArcBest Corporation by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the transportation company’s stock valued at $202,000 after buying an additional 100 shares during the last quarter. Stephens Inc. AR raised its position in shares of ArcBest Corporation by 0.7% in the first quarter. Stephens Inc. AR now owns 8,728 shares of the transportation company’s stock valued at $227,000 after buying an additional 60 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of ArcBest Corporation during the first quarter valued at $291,000. Finally, Arizona State Retirement System raised its position in shares of ArcBest Corporation by 0.8% in the first quarter. Arizona State Retirement System now owns 12,416 shares of the transportation company’s stock valued at $323,000 after buying an additional 100 shares during the last quarter. 87.21% of the stock is currently owned by institutional investors.

Several brokerages recently commented on ARCB. Cowen and Company lifted their target price on shares of ArcBest Corporation from $24.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, May 8th. Zacks Investment Research upgraded shares of ArcBest Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. ValuEngine downgraded shares of ArcBest Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub downgraded shares of ArcBest Corporation from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Deutsche Bank AG dropped their target price on shares of ArcBest Corporation from $33.00 to $25.00 and set a “hold” rating on the stock in a report on Monday, May 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. ArcBest Corporation presently has an average rating of “Hold” and an average target price of $26.20.

ArcBest Corporation 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).

Earnings History for ArcBest Corporation (NASDAQ:ARCB)

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