ArcBest (ARCB) to Release Quarterly Earnings on Friday

ArcBest (NASDAQ:ARCB) will release its earnings data before the market opens on Friday, November 1st. Analysts expect ArcBest to post earnings of $2.05 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, August 2nd. The transportation company reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($0.05). ArcBest had a return on equity of 15.98% and a net margin of 2.96%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the company earned $1.54 earnings per share. The company’s revenue was down 2.4% on a year-over-year basis. On average, analysts expect ArcBest to post $7 EPS for the current fiscal year and $10 EPS for the next fiscal year.

ArcBest Price Performance

ArcBest stock opened at $104.37 on Wednesday. ArcBest has a 1 year low of $94.76 and a 1 year high of $153.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a 50 day moving average price of $105.02 and a 200 day moving average price of $111.16. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 1.28 and a beta of 1.46.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ARCB. TD Cowen downgraded ArcBest from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $131.00 to $114.00 in a report on Monday, October 14th. StockNews.com upgraded ArcBest from a “hold” rating to a “buy” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group reduced their price objective on ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Wells Fargo & Company downgraded shares of ArcBest from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $122.00 to $112.00 in a research report on Wednesday, September 4th. Finally, Bank of America reduced their price target on shares of ArcBest from $102.00 to $99.00 and set an “underperform” rating on the stock in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $126.92.

Insider Activity

In other ArcBest news, Director Salvatore A. Abbate purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $103.93 per share, for a total transaction of $103,930.00. Following the completion of the purchase, the director now owns 3,650 shares in the company, valued at $379,344.50. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.65% of the company’s stock.

ArcBest Company Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.