Key Points
- Director Judy Mcreynolds sold 1,500 ArcBest shares at an average price of $144.78, totaling $217,170. She retains 61,348 shares, worth approximately $8.88 million.
- ArcBest shares opened at $135.25, down 4.5%, while the company reported quarterly EPS of $2.38—beating estimates—and revenue of $1.18 billion, up 15.9% year over year.
- The company declared a quarterly dividend of $0.12 per share, equivalent to a $0.48 annualized payout and a 0.4% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $154.23.
ArcBest Corporation (NASDAQ:ARCB - Get Free Report) Director Judy Mcreynolds sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $144.78, for a total transaction of $217,170.00. Following the transaction, the director directly owned 61,348 shares in the company, 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 hyperlink.
ArcBest Stock Down 4.5%
Shares of NASDAQ ARCB opened at $135.25 on Friday. The stock has a market capitalization of $3.02 billion, a PE ratio of 196.01, a P/E/G ratio of 0.46 and a beta of 1.57. 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 fifty day moving average of $149.66 and a 200-day moving average of $121.22. ArcBest Corporation has a 52-week low of $59.43 and a 52-week high of $176.69.
ArcBest (NASDAQ:ARCB - Get Free Report) last issued its earnings results on Wednesday, July 29th. The transportation company reported $2.38 earnings per share for the quarter, topping 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 analyst estimates of $1.17 billion. During the same period last year, the company posted $1.36 EPS. The business's quarterly revenue was up 15.9% on a year-over-year basis. On average, analysts anticipate that ArcBest Corporation will post 6.9 EPS for the current year.
ArcBest Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, August 7th. ArcBest's payout ratio is currently 69.57%.
Analyst Upgrades and Downgrades
ARCB has been the topic of several research reports. Bank of America raised their price target on shares of ArcBest from $138.00 to $160.00 and gave the company a "neutral" rating in a report on Friday, June 5th. Truist Financial increased their price objective on shares of ArcBest from $145.00 to $165.00 and gave the stock a "buy" rating in a research report on Wednesday, July 15th. Citizens Jmp initiated coverage on shares of ArcBest in a research note on Wednesday, July 15th. They issued a "market outperform" rating and a $180.00 target price on the stock. Zacks Research lowered shares of ArcBest from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Finally, Weiss Ratings cut shares of ArcBest from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, May 28th. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $154.23.
View Our Latest Stock Analysis on ARCB
Hedge Funds Weigh In On ArcBest
Several hedge funds and other institutional investors have recently bought and sold shares of ARCB. Federated Hermes Inc. boosted its holdings in ArcBest by 126.6% in the 4th quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company's stock worth $75,000 after acquiring an additional 567 shares during the period. Hantz Financial Services Inc. raised its stake 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 valued at $83,000 after purchasing an additional 934 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of ArcBest during the second quarter worth $85,000. Assetmark Inc. lifted its position in shares of ArcBest by 5,940.0% during the fourth quarter. Assetmark Inc. now owns 1,208 shares of the transportation company's stock worth $90,000 after purchasing an additional 1,188 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of 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 purchasing an additional 532 shares during the period. 99.27% of the stock is owned by institutional investors and hedge funds.
About ArcBest
(
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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