ArcBest (NASDAQ:ARCB) Director Sells $201,009.90 in Stock

ArcBest Corporation (NASDAQ:ARCB) Director Judy Mcreynolds sold 1,443 shares of ArcBest stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $139.30, for a total value of $201,009.90. Following the sale, the director owned 52,905 shares of the company’s stock, valued at approximately $7,369,666.50. This represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ArcBest Stock Performance

NASDAQ:ARCB opened at $137.76 on Monday. The company has a market capitalization of $3.08 billion, a P/E ratio of 199.65, a P/E/G ratio of 0.45 and a beta of 1.57. The stock’s 50 day moving average price is $149.68 and its 200 day moving average price is $121.55. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.97. ArcBest Corporation has a 52 week low of $59.43 and a 52 week high of $176.69.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Wednesday, July 29th. The transportation company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.12. The firm had revenue of $1.18 billion during 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 revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.36 earnings per share. On average, research analysts forecast that ArcBest Corporation will post 6.9 EPS for the current fiscal year.

ArcBest Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be issued a $0.12 dividend. The ex-dividend date 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 is currently 69.57%.

Institutional Investors Weigh In On ArcBest

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of ArcBest during the 2nd quarter worth about $503,476,000. Vanguard Group Inc. grew its holdings in ArcBest by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 2,451,162 shares of the transportation company’s stock valued at $181,852,000 after buying an additional 6,808 shares during the last quarter. Dimensional Fund Advisors LP increased its position in ArcBest by 3.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,397,287 shares of the transportation company’s stock worth $137,429,000 after buying an additional 47,848 shares during the period. Invesco Ltd. increased its position in ArcBest by 625.4% in the 4th quarter. Invesco Ltd. now owns 920,498 shares of the transportation company’s stock worth $68,292,000 after buying an additional 793,607 shares during the period. Finally, Turtle Creek Asset Management Inc. acquired a new position in shares of ArcBest during the third quarter worth approximately $39,508,000. 99.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ARCB shares. Zacks Research downgraded shares of ArcBest from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Weiss Ratings downgraded ArcBest from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 28th. Citigroup lowered their price objective on ArcBest from $178.00 to $171.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Wells Fargo & Company raised their price objective on ArcBest from $130.00 to $150.00 and gave the company an “equal weight” rating in a research note on Friday, June 5th. Finally, Wall Street Zen raised ArcBest from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, ArcBest presently has a consensus rating of “Moderate Buy” and an average target price of $154.23.

ArcBest Company Profile

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.