ArcBest Corporation (ARCB) Director Janice E. Stipp Sells 3,700 Shares
ArcBest Corporation (NASDAQ:ARCB) Director Janice E. Stipp sold 3,700 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $38.09, for a total transaction of $140,933.00. Following the transaction, the director now directly owns 20,200 shares of the company’s stock, valued at approximately $769,418. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of ArcBest Corporation (NASDAQ:ARCB) opened at $37.30 on Tuesday. The firm has a market cap of $975.48, a PE ratio of 30.93 and a beta of 1.82. ArcBest Corporation has a 52 week low of $16.95 and a 52 week high of $38.60. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.26 and a quick ratio of 1.26.
ArcBest (NASDAQ:ARCB) last posted its earnings results on Friday, November 3rd. The transportation company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.01. The business had revenue of $744.30 million for the quarter, compared to analysts’ expectations of $750.16 million. ArcBest had a net margin of 0.88% and a return on equity of 5.34%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 earnings per share. equities analysts expect that ArcBest Corporation will post 1.29 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 28th. Investors of record on Tuesday, November 14th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, November 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.86%. ArcBest’s payout ratio is currently 34.41%.
A number of research analysts have recently commented on the stock. BidaskClub raised shares of ArcBest from a “hold” rating to a “buy” rating in a research report on Saturday, December 2nd. ValuEngine lowered shares of ArcBest from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Bank of America upped their price objective on shares of ArcBest from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, November 6th. Buckingham Research upped their target price on shares of ArcBest from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Monday, November 6th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $22.00 target price (up previously from $21.00) on shares of ArcBest in a research note on Thursday, October 5th. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $30.86.
A number of hedge funds and other institutional investors have recently bought and sold shares of ARCB. Ameriprise Financial Inc. grew its stake in ArcBest by 26.0% during the second quarter. Ameriprise Financial Inc. now owns 524,005 shares of the transportation company’s stock worth $10,792,000 after buying an additional 108,200 shares during the last quarter. Eagle Boston Investment Management Inc. grew its stake in ArcBest by 39.4% during the second quarter. Eagle Boston Investment Management Inc. now owns 299,844 shares of the transportation company’s stock worth $6,176,000 after buying an additional 84,764 shares during the last quarter. Algert Global LLC bought a new stake in ArcBest during the third quarter worth about $2,824,000. Vanguard Group Inc. grew its stake in ArcBest by 3.9% during the second quarter. Vanguard Group Inc. now owns 2,216,925 shares of the transportation company’s stock worth $45,669,000 after buying an additional 83,738 shares during the last quarter. Finally, First Trust Advisors LP bought a new stake in ArcBest during the second quarter worth about $1,665,000. 89.57% of the stock is currently owned by institutional investors and hedge funds.
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ArcBest Company Profile
ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).
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