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

ArcBest Corporation (NASDAQ:ARCB) Director Judy Mcreynolds sold 1,443 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was 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 in the company, valued at $7,369,666.50. This trade represents a 2.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ArcBest Trading Up 0.7%

ARCB traded up $0.94 during trading on Friday, hitting $136.19. 38,977 shares of the company’s stock were exchanged, compared to its average volume of 372,570. The stock has a 50 day moving average price of $149.66 and a 200 day moving average price of $121.22. ArcBest Corporation has a 1 year low of $59.43 and a 1 year high of $176.69. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The firm has a market cap of $3.04 billion, a P/E ratio of 197.26, a price-to-earnings-growth ratio of 0.46 and a beta of 1.57.

ArcBest (NASDAQ:ARCB) last released 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 firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. ArcBest had a return on equity of 7.92% and a net margin of 0.39%.ArcBest’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 EPS. As a group, analysts expect that ArcBest Corporation will post 6.9 EPS for the current fiscal year.

ArcBest Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, August 7th. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. ArcBest’s dividend payout ratio (DPR) is 69.57%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ARCB. Morgan Stanley lifted their price objective on shares of ArcBest from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Zacks Research downgraded ArcBest from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Truist Financial lifted their target price on ArcBest from $145.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. UBS Group upped their target price on ArcBest from $145.00 to $154.00 and gave the company a “neutral” rating in a report on Monday. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $172.00 price target on shares of ArcBest in a research note on Wednesday, July 29th. One research 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 company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $154.23.

Institutional Investors Weigh In On ArcBest

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