Insider Selling: ArcBest (NASDAQ:ARCB) Insider Sells $862,820.00 in Stock

ArcBest Corporation (NASDAQ:ARCB) insider Erin Gattis sold 6,163 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $140.00, for a total value of $862,820.00. Following the sale, the insider owned 24,286 shares in the company, valued at $3,400,040. This represents a 20.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

ArcBest Price Performance

ArcBest stock opened at $137.76 on Friday. The stock has a 50-day moving average price of $149.68 and a two-hundred day moving average price of $121.34. ArcBest Corporation has a 12 month low of $59.43 and a 12 month high of $176.69. The company has a market capitalization of $3.08 billion, a PE ratio of 199.65, a P/E/G ratio of 0.44 and a beta of 1.57. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results on Wednesday, July 29th. The transportation company reported $2.38 earnings per share 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 return on equity of 7.92% and a net margin of 0.39%.The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.36 earnings per share. Analysts expect that ArcBest Corporation will post 6.9 EPS for the current year.

ArcBest Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. UBS Group increased their price objective on ArcBest from $145.00 to $154.00 and gave the company a “neutral” rating in a report on Monday. Wall Street Zen upgraded ArcBest from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Zacks Research cut ArcBest from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Citizens Jmp initiated coverage on shares of ArcBest in a research report on Wednesday, July 15th. They issued a “market outperform” rating and a $180.00 price target on the stock. Finally, Stifel Nicolaus increased their price objective on shares of ArcBest from $134.00 to $176.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, ArcBest has an average rating of “Moderate Buy” and an average target price of $154.23.

Institutional Trading of ArcBest

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA lifted its stake in ArcBest by 1.5% in the 1st quarter. Glenmede Trust Co. NA now owns 6,162 shares of the transportation company’s stock worth $606,000 after purchasing an additional 93 shares in the last quarter. Federation des caisses Desjardins du Quebec grew its position in shares of ArcBest by 0.4% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 22,995 shares of the transportation company’s stock valued at $1,706,000 after purchasing an additional 100 shares in the last quarter. Seelaus Asset Management LLC increased its holdings in shares of ArcBest by 3.5% in the fourth quarter. Seelaus Asset Management LLC now owns 3,710 shares of the transportation company’s stock worth $275,000 after purchasing an additional 125 shares during the period. PNC Financial Services Group Inc. raised its position in shares of ArcBest by 8.2% in the first quarter. PNC Financial Services Group Inc. now owns 1,775 shares of the transportation company’s stock worth $175,000 after buying an additional 134 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in ArcBest by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 4,431 shares of the transportation company’s stock valued at $329,000 after buying an additional 135 shares during the period. 99.27% of the stock is owned by institutional investors.

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.