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

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

ArcBest Stock Performance

Shares of NASDAQ:ARCB traded down $0.39 during trading on Monday, hitting $137.37. The company’s stock had a trading volume of 85,456 shares, compared to its average volume of 372,080. 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 firm has a market cap of $3.07 billion, a price-to-earnings ratio of 199.59, a P/E/G ratio of 0.45 and a beta of 1.57. The company has a 50-day moving average of $149.68 and a 200-day moving average of $121.55. ArcBest Corporation has a 12 month low of $59.43 and a 12 month high of $176.69.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Wednesday, July 29th. The transportation company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.12. ArcBest had a net margin of 0.39% and a return on equity of 7.92%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the business posted $1.36 earnings per share. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, sell-side analysts expect that ArcBest Corporation will post 6.9 earnings per share for the current year.

ArcBest Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 0.3%. ArcBest’s payout ratio is presently 69.57%.

Wall Street Analysts Forecast Growth

ARCB has been the subject of several analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $172.00 target price on shares of ArcBest in a report on Wednesday, July 29th. Citizens Jmp initiated coverage on ArcBest in a report on Wednesday, July 15th. They set a “market outperform” rating and a $180.00 price target for the company. Wall Street Zen upgraded ArcBest from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. JPMorgan Chase & Co. raised their price objective on ArcBest from $117.00 to $147.00 and gave the stock a “neutral” rating in a research note on Monday, June 8th. Finally, UBS Group lifted their price objective on ArcBest from $145.00 to $154.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $154.23.

Institutional Trading of ArcBest

Institutional investors and hedge funds have recently modified their holdings of the company. Empirical Asset Management LLC purchased a new position in shares of ArcBest during the 2nd quarter valued at $677,000. BlackRock Inc. bought a new stake in ArcBest during the second quarter valued at about $503,476,000. Deutsche Bank AG purchased a new position in shares of ArcBest in the second quarter valued at about $3,984,000. OneDigital Investment Advisors LLC purchased a new position in shares of ArcBest in the second quarter valued at about $361,000. Finally, Bank of New York Mellon Corp bought a new position in shares of ArcBest in the second quarter worth about $27,281,000. 99.27% of the stock is currently owned by institutional investors.

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.