Key Points
- ArcBest insider Erin Gattis sold 6,163 shares at an average price of $140, generating $862,820 and reducing her holdings by 20.24% to 24,286 shares.
- ArcBest reported quarterly EPS of $2.38, beating estimates by $0.12, while revenue reached $1.18 billion, up 15.9% year over year.
- The company declared a quarterly dividend of $0.12 per share, equivalent to $0.48 annually and a 0.3% yield; analysts maintain a Moderate Buy consensus with an average price target of $154.23.
ArcBest Corporation (NASDAQ:ARCB - Get Free Report) insider Erin Gattis sold 6,163 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $140.00, for a total value of $862,820.00. Following the completion of the sale, the insider owned 24,286 shares in the company, valued at approximately $3,400,040. This represents a 20.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
ArcBest Price Performance
ArcBest stock opened at $141.67 on Thursday. ArcBest Corporation has a 52 week low of $59.43 and a 52 week 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's 50-day simple moving average is $149.63 and its 200 day simple moving average is $120.91. The firm has a market capitalization of $3.17 billion, a PE ratio of 205.32, a P/E/G ratio of 0.47 and a beta of 1.57.
ArcBest (NASDAQ:ARCB - Get Free Report) last posted its earnings results on Wednesday, July 29th. The transportation company reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.26 by $0.12. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. ArcBest had a return on equity of 7.92% and a net margin of 0.39%.ArcBest's revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 EPS. On average, equities research analysts predict that ArcBest Corporation will post 6.9 EPS for the current fiscal year.
ArcBest Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be issued a $0.12 dividend. The ex-dividend date is Friday, August 7th. This represents a $0.48 annualized dividend and a yield of 0.3%. ArcBest's payout ratio is 69.57%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of ARCB. Federated Hermes Inc. grew its stake in ArcBest by 126.6% during the 4th quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company's stock valued at $75,000 after purchasing an additional 567 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of ArcBest during the 2nd quarter valued at approximately $85,000. Hantz Financial Services Inc. grew its position in shares of ArcBest by 507.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company's stock worth $83,000 after buying an additional 934 shares in the last quarter. Assetmark Inc. increased its stake in shares of ArcBest by 5,940.0% in the fourth quarter. Assetmark Inc. now owns 1,208 shares of the transportation company's stock worth $90,000 after buying an additional 1,188 shares during the last quarter. Finally, KBC Group NV raised its holdings in ArcBest by 69.4% in the fourth quarter. KBC Group NV now owns 1,299 shares of the transportation company's stock valued at $96,000 after acquiring an additional 532 shares in the last quarter. Hedge funds and other institutional investors own 99.27% of the company's stock.
Analyst Upgrades and Downgrades
ARCB has been the subject of a number of research analyst reports. Zacks Research upgraded ArcBest from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Wells Fargo & Company boosted their price target on ArcBest from $130.00 to $150.00 and gave the company an "equal weight" rating in a research report on Friday, June 5th. The Goldman Sachs Group restated a "buy" rating and set a $172.00 price target on shares of ArcBest in a research note on Wednesday, July 29th. Wall Street Zen upgraded ArcBest from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Finally, Stifel Nicolaus boosted their target price on ArcBest from $134.00 to $176.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, ArcBest has an average rating of "Moderate Buy" and an average price target of $154.23.
Get Our Latest Stock Report on ARCB
ArcBest Company Profile
(
Get Free Report)
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.
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