ArcBest (NASDAQ:ARCB) Director Sells 1,500 Shares of Stock

ArcBest Corporation (NASDAQ:ARCB) Director Judy Mcreynolds sold 1,500 shares of the business’s stock in a transaction 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 completion of the transaction, the director directly owned 61,348 shares of the company’s stock, valued at approximately $8,881,963.44. This trade 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 accessible through the SEC website.

ArcBest Price Performance

ArcBest stock traded down $4.50 during midday trading on Thursday, reaching $137.16. 132,301 shares of the company were exchanged, compared to its average volume of 373,684. The firm’s 50-day simple moving average is $149.63 and its 200-day simple moving average is $120.91. ArcBest Corporation has a 1 year low of $59.43 and a 1 year high of $176.69. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 199.04, a P/E/G ratio of 0.47 and a beta of 1.57. 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 (NASDAQ:ARCB) last released its quarterly earnings results on Wednesday, July 29th. The transportation company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.12. The company 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 firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the company earned $1.36 EPS. On average, analysts anticipate that ArcBest Corporation will post 6.9 EPS for the current year.

ArcBest Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Weiss Ratings cut ArcBest from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. raised their price target on ArcBest from $117.00 to $147.00 and gave the stock a “neutral” rating in a research note on Monday, June 8th. Stephens upgraded ArcBest to a “strong-buy” rating in a report on Wednesday, July 8th. Wall Street Zen raised shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Bank of America raised their target price on shares of ArcBest from $138.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $154.23.

Hedge Funds Weigh In On ArcBest

Several hedge funds and other institutional investors have recently modified their holdings of ARCB. AQR Capital Management LLC lifted its position in ArcBest by 300.3% during the first quarter. AQR Capital Management LLC now owns 26,896 shares of the transportation company’s stock valued at $1,898,000 after buying an additional 20,177 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of ArcBest by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,017 shares of the transportation company’s stock valued at $989,000 after acquiring an additional 619 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of ArcBest by 215.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,138 shares of the transportation company’s stock valued at $10,808,000 after acquiring an additional 104,643 shares during the period. Jane Street Group LLC raised its position in ArcBest by 278.2% in the first quarter. Jane Street Group LLC now owns 45,591 shares of the transportation company’s stock valued at $3,218,000 after purchasing an additional 33,537 shares during the period. Finally, Intech Investment Management LLC raised its position in ArcBest by 3.4% in the first quarter. Intech Investment Management LLC now owns 20,135 shares of the transportation company’s stock valued at $1,421,000 after purchasing an additional 655 shares during the period. 99.27% of the stock is owned by institutional investors and hedge funds.

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.