Brokerages predict that ArcBest Corp (NASDAQ:ARCB) will report sales of $771.19 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for ArcBest’s earnings, with estimates ranging from $751.00 million to $784.45 million. ArcBest reported sales of $793.35 million in the same quarter last year, which indicates a negative year-over-year growth rate of 2.8%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, July 30th.
On average, analysts expect that ArcBest will report full year sales of $3.06 billion for the current year, with estimates ranging from $2.95 billion to $3.11 billion. For the next year, analysts forecast that the firm will post sales of $3.14 billion, with estimates ranging from $2.94 billion to $3.19 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow ArcBest.
ArcBest (NASDAQ:ARCB) last posted its quarterly earnings results on Thursday, May 2nd. The transportation company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.13). The business 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%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.29 EPS.
Several research firms recently commented on ARCB. Morgan Stanley set a $36.00 price objective on shares of ArcBest and gave the stock a “hold” rating in a research note on Monday, July 8th. Loop Capital boosted their price objective on shares of Burlington Stores to $200.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. TheStreet upgraded shares of BlackRock TCP Capital from a “c+” rating to a “b” rating in a research note on Tuesday, May 28th. Cowen reiterated an “outperform” rating and set a $28.00 price objective (down previously from $30.00) on shares of Pure Storage in a research note on Wednesday, May 22nd. Finally, Buckingham Research reduced their price objective on shares of American Axle & Manufact. from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. ArcBest presently has an average rating of “Hold” and a consensus target price of $37.67.
Shares of NASDAQ ARCB traded down $0.61 during trading hours on Friday, hitting $26.33. 159,386 shares of the stock were exchanged, compared to its average volume of 274,499. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market capitalization of $671.76 million, a P/E ratio of 6.82 and a beta of 2.09. The firm’s fifty day simple moving average is $26.48. ArcBest has a 12 month low of $24.68 and a 12 month high of $51.45.
Large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its holdings in shares of ArcBest by 5.0% in the 4th quarter. Principal Financial Group Inc. now owns 224,606 shares of the transportation company’s stock valued at $7,695,000 after acquiring an additional 10,738 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of ArcBest by 30.5% in the 1st quarter. Victory Capital Management Inc. now owns 6,915 shares of the transportation company’s stock valued at $213,000 after acquiring an additional 1,615 shares during the last quarter. Globeflex Capital L P boosted its holdings in shares of ArcBest by 1.6% in the 1st quarter. Globeflex Capital L P now owns 27,795 shares of the transportation company’s stock valued at $856,000 after acquiring an additional 439 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of ArcBest by 316.5% in the 4th quarter. First Trust Advisors LP now owns 45,619 shares of the transportation company’s stock valued at $1,563,000 after acquiring an additional 34,667 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of ArcBest by 2.6% in the 4th quarter. BlackRock Inc. now owns 3,728,659 shares of the transportation company’s stock valued at $127,743,000 after acquiring an additional 93,618 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors.
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.
Featured Article: What is a put option?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ArcBest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcBest and related companies with MarketBeat.com's FREE daily email newsletter.