Insider Selling: ArcBest (NASDAQ:ARCB) Director Sells $217,170.00 in Stock

ArcBest Corporation (NASDAQ:ARCB) Director Judy Mcreynolds sold 1,500 shares of ArcBest stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $144.78, for a total value of $217,170.00. Following the sale, the director owned 61,348 shares in the company, valued at $8,881,963.44. This represents a 2.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

ArcBest Trading Up 1.9%

NASDAQ ARCB opened at $137.76 on Friday. ArcBest Corporation has a 12 month low of $59.43 and a 12 month high of $176.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 199.65, a price-to-earnings-growth ratio of 0.45 and a beta of 1.57. The company’s fifty day moving average price is $149.68 and its two-hundred day moving average price is $121.34.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Wednesday, July 29th. The transportation company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.26 by $0.12. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. ArcBest had a net margin of 0.39% and a return on equity of 7.92%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.36 earnings per share. As a group, research analysts predict that ArcBest Corporation will post 6.9 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.48 dividend on an annualized basis and a yield of 0.3%. ArcBest’s dividend payout ratio (DPR) is currently 69.57%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ARCB shares. JPMorgan Chase & Co. upped their target price on ArcBest from $117.00 to $147.00 and gave the company a “neutral” rating in a report on Monday, June 8th. Truist Financial boosted their price objective on ArcBest from $145.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Stephens upgraded ArcBest to a “strong-buy” rating in a research note on Wednesday, July 8th. Bank of America raised their target price on ArcBest from $138.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, June 5th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $172.00 price objective on shares of ArcBest in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.23.

Institutional Trading of ArcBest

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of ArcBest in the 2nd quarter valued at approximately $503,476,000. Invesco Ltd. raised its position in ArcBest by 625.4% in the 4th quarter. Invesco Ltd. now owns 920,498 shares of the transportation company’s stock valued at $68,292,000 after purchasing an additional 793,607 shares during the last quarter. Turtle Creek Asset Management Inc. acquired a new position in ArcBest in the third quarter worth $39,508,000. Principal Financial Group Inc. boosted its stake in ArcBest by 349.9% in the fourth quarter. Principal Financial Group Inc. now owns 493,780 shares of the transportation company’s stock worth $36,634,000 after purchasing an additional 384,024 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of ArcBest by 158.7% during the second quarter. Ameriprise Financial Inc. now owns 490,064 shares of the transportation company’s stock worth $37,740,000 after purchasing an additional 300,642 shares during the last quarter. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

About ArcBest

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.