ArcBest (NASDAQ:ARCB) Director Judy Mcreynolds Sells 1,443 Shares of Stock

ArcBest Corporation (NASDAQ:ARCB) Director Judy Mcreynolds sold 1,443 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $139.30, for a total transaction of $201,009.90. Following the completion of the sale, the director directly owned 52,905 shares in the company, valued at $7,369,666.50. This trade represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

ArcBest Stock Performance

Shares of ARCB stock opened at $137.76 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $3.08 billion, a P/E ratio of 199.65, a P/E/G ratio of 0.44 and a beta of 1.57. The firm’s 50 day moving average price is $149.68 and its 200-day moving average price is $121.34. ArcBest Corporation has a one year low of $59.43 and a one year 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 for the quarter, beating the consensus estimate of $2.26 by $0.12. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. ArcBest had a net margin of 0.39% and a return on equity of 7.92%. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.36 EPS. As a group, equities research analysts predict that ArcBest Corporation will post 6.9 EPS for the current year.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be paid 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 dividend yield of 0.3%. ArcBest’s payout ratio is presently 69.57%.

Institutional Investors Weigh In On ArcBest

Several large investors have recently bought and sold shares of the stock. Federated Hermes Inc. boosted its stake in shares of ArcBest by 126.6% in the 4th quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock valued at $75,000 after buying an additional 567 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of ArcBest during the second quarter worth approximately $85,000. Hantz Financial Services Inc. raised its holdings in ArcBest by 507.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock valued at $83,000 after acquiring an additional 934 shares in the last quarter. Assetmark Inc. raised its holdings in ArcBest by 5,940.0% in the fourth quarter. Assetmark Inc. now owns 1,208 shares of the transportation company’s stock valued at $90,000 after acquiring an additional 1,188 shares in the last quarter. Finally, KBC Group NV lifted its stake in ArcBest by 69.4% in the fourth quarter. KBC Group NV now owns 1,299 shares of the transportation company’s stock worth $96,000 after acquiring an additional 532 shares during the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.

Analysts Set New Price Targets

ARCB has been the subject of a number of research analyst reports. Wells Fargo & Company raised their target price on ArcBest from $130.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, June 5th. TD Cowen reduced their price target on shares of ArcBest from $175.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, July 30th. Weiss Ratings lowered shares of ArcBest from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 28th. Citizens Jmp initiated coverage on shares of ArcBest in a report on Wednesday, July 15th. They issued a “market outperform” rating and a $180.00 price objective for the company. Finally, Stifel Nicolaus increased their target price on shares of ArcBest from $134.00 to $176.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.