ArcBest Co. (NASDAQ:ARCB) Director Sells $428,649.00 in Stock

ArcBest Co. (NASDAQ:ARCB) Director Craig E. Philip sold 3,900 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total value of $428,649.00. Following the completion of the sale, the director now owns 23,250 shares in the company, valued at $2,555,407.50. The trade was a 14.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

ArcBest Price Performance

NASDAQ:ARCB opened at $113.50 on Thursday. The business’s 50-day moving average price is $107.37 and its 200 day moving average price is $108.34. The firm has a market cap of $2.66 billion, a P/E ratio of 13.96, a PEG ratio of 2.11 and a beta of 1.47. ArcBest Co. has a 52-week low of $94.76 and a 52-week high of $153.60. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.07 billion. ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.31 EPS. As a group, sell-side analysts predict that ArcBest Co. will post 6.19 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.42%. ArcBest’s dividend payout ratio is currently 5.93%.

Hedge Funds Weigh In On ArcBest

A number of institutional investors have recently bought and sold shares of ARCB. O Shaughnessy Asset Management LLC increased its stake in ArcBest by 19.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,231 shares of the transportation company’s stock worth $460,000 after purchasing an additional 529 shares in the last quarter. BOKF NA boosted its position in ArcBest by 54.5% during the 1st quarter. BOKF NA now owns 2,538 shares of the transportation company’s stock worth $361,000 after acquiring an additional 895 shares during the period. Price T Rowe Associates Inc. MD boosted its position in ArcBest by 54.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,660 shares of the transportation company’s stock worth $2,945,000 after acquiring an additional 7,291 shares during the period. Silvercrest Asset Management Group LLC boosted its position in ArcBest by 3.7% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 62,671 shares of the transportation company’s stock worth $8,931,000 after acquiring an additional 2,235 shares during the period. Finally, Bayesian Capital Management LP acquired a new stake in ArcBest during the 1st quarter worth about $464,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Citigroup raised their target price on ArcBest from $110.00 to $127.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. lowered their price target on ArcBest from $130.00 to $117.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Wells Fargo & Company lowered their price target on ArcBest from $112.00 to $105.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Stephens reissued an “overweight” rating and set a $130.00 price target on shares of ArcBest in a report on Wednesday, September 4th. Finally, The Goldman Sachs Group lowered their price target on ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, ArcBest presently has a consensus rating of “Hold” and a consensus target price of $124.50.

ArcBest Company Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.