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

ArcBest Corporation (NASDAQ:ARCB) Director Judy Mcreynolds sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $144.78, for a total value of $217,170.00. Following the completion of the transaction, the director owned 61,348 shares of the company’s stock, valued at approximately $8,881,963.44. This represents a 2.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

ArcBest Stock Down 3.2%

Shares of ARCB traded down $4.50 during mid-day trading on Thursday, reaching $137.16. 132,301 shares of the stock traded hands, compared to its average volume of 373,684. The stock has a fifty day simple moving average of $149.63 and a 200 day simple moving average of $120.91. ArcBest Corporation has a 12-month low of $59.43 and a 12-month high of $176.69. 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 firm has a market cap of $3.07 billion, a price-to-earnings ratio of 199.04, a P/E/G ratio of 0.47 and a beta of 1.57.

ArcBest (NASDAQ:ARCB) last announced its earnings results 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 business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. ArcBest had a net margin of 0.39% and a return on equity of 7.92%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.36 earnings per share. Sell-side analysts expect that ArcBest Corporation will post 6.9 EPS for the current fiscal year.

ArcBest Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ARCB shares. TD Cowen dropped their target price on ArcBest from $175.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, July 30th. Stifel Nicolaus increased their price target on ArcBest from $134.00 to $176.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Stephens upgraded ArcBest to a “strong-buy” rating in a research note on Wednesday, July 8th. Morgan Stanley lifted their price objective on ArcBest from $150.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Finally, Citizens Jmp started coverage on ArcBest in a research report on Wednesday, July 15th. They issued a “market outperform” rating and a $180.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.23.

Institutional Investors Weigh In On ArcBest

A number of institutional investors have recently made changes to their positions in ARCB. Aberdeen Group plc acquired a new position in ArcBest during the 4th quarter valued at approximately $7,240,000. Principal Financial Group Inc. boosted its stake in ArcBest by 349.9% during the 4th quarter. Principal Financial Group Inc. now owns 493,780 shares of the transportation company’s stock valued at $36,634,000 after purchasing an additional 384,024 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in ArcBest by 19,008.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 122,292 shares of the transportation company’s stock worth $9,073,000 after purchasing an additional 121,652 shares during the last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of ArcBest in the fourth quarter valued at approximately $20,402,000. Finally, State of Wyoming increased its stake in shares of ArcBest by 448.6% in the fourth quarter. State of Wyoming now owns 9,551 shares of the transportation company’s stock valued at $709,000 after purchasing an additional 7,810 shares during the period. 99.27% of the stock is currently owned by institutional investors.

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.