Key Points
- Director sale: ArcBest Director Judy McReynolds sold 1,443 shares for approximately $201,010 at an average price of $139.30, reducing her direct holdings by 2.66% to 52,905 shares.
- Quarterly performance: ArcBest reported quarterly EPS of $2.38, exceeding analyst expectations of $2.26, while revenue rose 15.9% year over year to $1.18 billion.
- Market outlook: Analysts maintain a “Moderate Buy” consensus with an average price target of $154.23, while the company declared a quarterly dividend of $0.12 per share.
ArcBest Corporation (NASDAQ:ARCB - Get Free Report) Director Judy Mcreynolds sold 1,443 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $139.30, for a total value of $201,009.90. Following the completion of the transaction, the director directly owned 52,905 shares in the company, valued at $7,369,666.50. This trade represents a 2.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
ArcBest Stock Up 1.9%
ArcBest stock opened at $137.76 on Friday. The stock has a market cap of $3.08 billion, a PE ratio of 199.65, a P/E/G ratio of 0.44 and a beta of 1.57. 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 stock's fifty day moving average is $149.68 and its two-hundred day moving average is $121.34. ArcBest Corporation has a 1-year low of $59.43 and a 1-year high of $176.69.
ArcBest (NASDAQ:ARCB - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The transportation company reported $2.38 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $1.17 billion. During the same period in the prior year, the firm posted $1.36 EPS. The business'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 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. Investors of record on Friday, August 7th will be issued 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 69.57%.
Analysts Set New Price Targets
Several analysts have recently weighed in on the stock. Citigroup reduced their price objective on shares of ArcBest from $178.00 to $171.00 and set a "buy" rating for the company in a research report on Tuesday. Citizens Jmp assumed coverage on shares of ArcBest in a research report on Wednesday, July 15th. They issued a "market outperform" rating and a $180.00 target price on the stock. Wells Fargo & Company lifted their price target on shares of ArcBest from $130.00 to $150.00 and gave the stock an "equal weight" rating in a research note on Friday, June 5th. Stifel Nicolaus boosted their price target on shares of ArcBest from $134.00 to $176.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Finally, UBS Group upped their price objective on shares of ArcBest from $145.00 to $154.00 and gave the company a "neutral" rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, ArcBest currently has an average rating of "Moderate Buy" and an average price target of $154.23.
Get Our Latest Stock Report on ArcBest
Institutional Investors Weigh In On ArcBest
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in shares of ArcBest by 300.3% in the first quarter. AQR Capital Management LLC now owns 26,896 shares of the transportation company's stock valued at $1,898,000 after acquiring an additional 20,177 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of ArcBest by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,017 shares of the transportation company's stock worth $989,000 after acquiring an additional 619 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of ArcBest by 215.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,138 shares of the transportation company's stock valued at $10,808,000 after acquiring an additional 104,643 shares during the period. Jane Street Group LLC raised its position in ArcBest by 278.2% in the 1st quarter. Jane Street Group LLC now owns 45,591 shares of the transportation company's stock valued at $3,218,000 after purchasing an additional 33,537 shares during the last quarter. Finally, Intech Investment Management LLC boosted its stake in ArcBest by 3.4% during the 1st quarter. Intech Investment Management LLC now owns 20,135 shares of the transportation company's stock worth $1,421,000 after purchasing an additional 655 shares during the period. Hedge funds and other institutional investors own 99.27% of the company's stock.
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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