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

ArcBest Corporation (NASDAQ:ARCB) Director Judy Mcreynolds sold 1,443 shares of ArcBest stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $139.30, for a total value of $201,009.90. Following the transaction, the director owned 52,905 shares in the company, valued at approximately $7,369,666.50. This represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

ArcBest Stock Up 1.9%

Shares of ArcBest stock opened at $137.76 on Friday. The company has a market capitalization of $3.08 billion, a P/E ratio of 199.65, a price-to-earnings-growth ratio of 0.45 and a beta of 1.57. 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 business has a 50-day moving average of $149.68 and a two-hundred day moving average of $121.34. ArcBest Corporation has a 1 year low of $59.43 and a 1 year 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. ArcBest had a return on equity of 7.92% and a net margin of 0.39%.The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the business posted $1.36 EPS. ArcBest’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, equities analysts predict that ArcBest Corporation will post 6.9 EPS for the current year.

ArcBest Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of ArcBest from $117.00 to $147.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. UBS Group upped their target price on shares of ArcBest from $145.00 to $154.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Zacks Research cut ArcBest from a “strong-buy” rating to a “hold” rating in a report on Wednesday. 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. Finally, Morgan Stanley boosted their price target on ArcBest from $150.00 to $180.00 and gave the company an “overweight” rating in a report on Monday, July 6th. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.23.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in ArcBest in the 2nd quarter valued at $503,476,000. Deutsche Bank AG acquired a new position in shares of ArcBest during the 2nd quarter worth about $3,984,000. OneDigital Investment Advisors LLC bought a new position in shares of ArcBest in the 2nd quarter valued at about $361,000. Bank of New York Mellon Corp bought a new position in shares of ArcBest in the 2nd quarter valued at about $27,281,000. Finally, State of Wyoming acquired a new stake in shares of ArcBest in the second quarter valued at about $278,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

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.