KeyCorp Weighs in on ArcBest Corporation’s Q1 2017 Earnings (ARCB)

ArcBest Corporation (NASDAQ:ARCB) – Research analysts at KeyCorp issued their Q1 2017 earnings estimates for shares of ArcBest Corporation in a report released on Wednesday. KeyCorp analyst T. Fowler forecasts that the brokerage will post earnings per share of ($0.18) for the quarter.

Several other equities analysts also recently issued reports on ARCB. Bank of America Corporation upgraded shares of ArcBest Corporation from an “underperform” rating to a “neutral” rating in a research note on Friday, November 4th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of ArcBest Corporation from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Tuesday, December 20th. Seaport Global Securities restated a “neutral” rating on shares of ArcBest Corporation in a research note on Friday, December 16th. TheStreet downgraded shares of ArcBest Corporation from a “b-” rating to a “c+” rating in a research note on Wednesday, February 8th. Finally, Deutsche Bank AG assumed coverage on shares of ArcBest Corporation in a research note on Wednesday, November 2nd. They issued a “hold” rating and a $21.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $24.83.

Earnings History and Estimates for ArcBest Corporation (NASDAQ:ARCB)

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ArcBest Corporation (NASDAQ:ARCB) opened at 31.35 on Monday. The stock has a 50 day moving average price of $30.40 and a 200-day moving average price of $24.37. The company has a market cap of $802.84 million, a price-to-earnings ratio of 44.47 and a beta of 1.72. ArcBest Corporation has a 1-year low of $14.85 and a 1-year high of $33.95.

ArcBest Corporation (NASDAQ:ARCB) last released its quarterly earnings data on Wednesday, February 8th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The firm earned $688.20 million during the quarter, compared to analyst estimates of $680.75 million. ArcBest Corporation had a return on equity of 4.15% and a net margin of 0.69%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.21 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 28th. Stockholders of record on Tuesday, February 14th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 10th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.02%. ArcBest Corporation’s payout ratio is 45.71%.

In related news, Director John W. Alden sold 11,400 shares of the stock in a transaction dated Monday, December 5th. The shares were sold at an average price of $31.27, for a total transaction of $356,478.00. Following the completion of the transaction, the director now directly owns 10,200 shares of the company’s stock, valued at $318,954. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Walter J. Echols sold 9,664 shares of the stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $33.19, for a total transaction of $320,748.16. Following the transaction, the vice president now directly owns 39,300 shares of the company’s stock, valued at $1,304,367. The disclosure for this sale can be found here. Insiders sold 26,458 shares of company stock valued at $845,141 over the last ninety days. Corporate insiders own 6.01% of the company’s stock.

This news story was originally published by sleekmoney and is the property of of sleekmoney. If you are viewing this news story on another publication, it was illegally copied and republished in violation of U.S. and international copyright law. The correct version of this news story can be read at http://sleekmoney.com/keycorp-weighs-in-on-arcbest-corporations-q1-2017-earnings-arcb/1659720.html.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in ArcBest Corporation by 1.7% in the third quarter. JPMorgan Chase & Co. now owns 1,618,334 shares of the company’s stock valued at $30,780,000 after buying an additional 27,131 shares in the last quarter. Acadian Asset Management LLC boosted its position in ArcBest Corporation by 0.8% in the third quarter. Acadian Asset Management LLC now owns 124,809 shares of the company’s stock valued at $2,374,000 after buying an additional 1,049 shares in the last quarter. BlackRock Advisors LLC boosted its position in ArcBest Corporation by 1.6% in the third quarter. BlackRock Advisors LLC now owns 306,927 shares of the company’s stock valued at $5,838,000 after buying an additional 4,717 shares in the last quarter. BlackRock Inc. boosted its position in ArcBest Corporation by 39.3% in the third quarter. BlackRock Inc. now owns 21,732 shares of the company’s stock valued at $413,000 after buying an additional 6,134 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in ArcBest Corporation by 0.7% in the third quarter. Ameriprise Financial Inc. now owns 428,499 shares of the company’s stock valued at $8,150,000 after buying an additional 3,002 shares in the last quarter. 88.83% of the stock is owned by hedge funds and other institutional investors.

About ArcBest Corporation

ArcBest Corporation is a holding company of businesses providing freight transportation services and logistics solutions. The Company operates through five segments: Freight Transportation (ABF Freight) segment, Premium Logistics (Panther), Transportation Management (ABF Logistics), Emergency & Preventative Maintenance (FleetNet) and Household Goods Moving Services (ABF Moving).

5 Day Chart for NASDAQ:ARCB

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