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

ArcBest Corporation (NASDAQ:ARCB) Director Judy Mcreynolds sold 1,500 shares of ArcBest stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $144.78, for a total value of $217,170.00. Following the completion of the sale, the director owned 61,348 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at the SEC website.

ArcBest Stock Performance

NASDAQ:ARCB opened at $135.25 on Friday. The firm’s fifty day simple moving average is $149.66 and its 200-day simple moving average is $121.22. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.10. The stock has a market cap of $3.02 billion, a PE ratio of 196.01, a price-to-earnings-growth ratio of 0.46 and a beta of 1.57. ArcBest Corporation has a fifty-two week low of $59.43 and a fifty-two week high of $176.69.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data 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 return on equity of 7.92% and a net margin of 0.39%.ArcBest’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the business posted $1.36 EPS. Analysts expect that ArcBest Corporation will post 6.9 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, August 7th. ArcBest’s dividend payout ratio is 69.57%.

Wall Street Analysts Forecast Growth

ARCB has been the subject of a number of analyst reports. Citizens Jmp started coverage on ArcBest in a report on Wednesday, July 15th. They issued a “market outperform” rating and a $180.00 price target for the company. JPMorgan Chase & Co. increased their price objective on ArcBest from $117.00 to $147.00 and gave the company a “neutral” rating in a research note on Monday, June 8th. Weiss Ratings cut ArcBest from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 28th. Truist Financial boosted their target price on shares of ArcBest from $145.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Finally, Wall Street Zen raised shares of ArcBest from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, ArcBest has a consensus rating of “Moderate Buy” and an average target price of $154.23.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ARCB. Vanguard Group Inc. grew its position in shares of ArcBest by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 2,451,162 shares of the transportation company’s stock valued at $181,852,000 after purchasing an additional 6,808 shares during the period. Dimensional Fund Advisors LP lifted its position in ArcBest by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,397,287 shares of the transportation company’s stock worth $137,429,000 after buying an additional 47,848 shares during the period. Invesco Ltd. lifted its position in ArcBest by 625.4% during the fourth quarter. Invesco Ltd. now owns 920,498 shares of the transportation company’s stock worth $68,292,000 after buying an additional 793,607 shares during the period. Turtle Creek Asset Management Inc. acquired a new stake in ArcBest in the 3rd quarter worth about $39,508,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in ArcBest by 4.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 520,886 shares of the transportation company’s stock valued at $36,394,000 after buying an additional 24,102 shares during the period. Hedge funds and other institutional investors own 99.27% of the company’s stock.

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.