Judy Mcreynolds Sells 2,857 Shares of ArcBest (NASDAQ:ARCB) Stock

ArcBest Corporation (NASDAQ:ARCB) Director Judy Mcreynolds sold 2,857 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $138.98, for a total value of $397,065.86. Following the completion of the sale, the director owned 50,048 shares of the company’s stock, valued at $6,955,671.04. This trade represents a 5.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

ArcBest Trading Down 1.2%

NASDAQ:ARCB opened at $135.76 on Wednesday. ArcBest Corporation has a fifty-two week low of $59.43 and a fifty-two week high of $176.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $3.03 billion, a PE ratio of 196.75, a price-to-earnings-growth ratio of 0.45 and a beta of 1.57. The business’s 50-day simple moving average is $149.50 and its 200-day simple moving average is $122.22.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Wednesday, July 29th. The transportation company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.12. The business had revenue of $1.18 billion during 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%.ArcBest’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.36 EPS. Sell-side analysts expect that ArcBest Corporation will post 6.9 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The business also recently disclosed 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 of this dividend is Friday, August 7th. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. ArcBest’s dividend payout ratio is currently 69.57%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Bank of America boosted their price objective on shares of ArcBest from $138.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, June 5th. 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. Stephens raised ArcBest to a “strong-buy” rating in a research report on Wednesday, July 8th. Weiss Ratings cut ArcBest from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 28th. Finally, Wall Street Zen upgraded ArcBest from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.23.

Hedge Funds Weigh In On ArcBest

Large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of ArcBest in the second quarter valued at about $503,476,000. Vanguard Group Inc. boosted its position in ArcBest by 0.3% during 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 last quarter. Dimensional Fund Advisors LP boosted 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 valued at $137,429,000 after purchasing an additional 47,848 shares during the last quarter. Invesco Ltd. grew its stake in ArcBest by 625.4% in the fourth quarter. Invesco Ltd. now owns 920,498 shares of the transportation company’s stock valued at $68,292,000 after purchasing an additional 793,607 shares in the last quarter. Finally, Turtle Creek Asset Management Inc. bought a new position in ArcBest in the third quarter valued at approximately $39,508,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.

About ArcBest

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.