Key Points
- Director Judy McReynolds sold 2,857 ArcBest shares at an average price of $138.98, generating $397,065.86 and reducing her position by 5.4% to 50,048 shares.
- ArcBest reported quarterly EPS of $2.38, beating estimates by $0.12, while revenue rose 15.9% year over year to $1.18 billion. The company also declared a quarterly dividend of $0.12 per share.
- Analysts maintain a “Moderate Buy” consensus rating with an average price target of $154.23, while institutional investors own 99.27% of the company’s shares.
ArcBest Corporation (NASDAQ:ARCB - Get Free Report) Director Judy Mcreynolds sold 2,857 shares of the business's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $138.98, for a total transaction of $397,065.86. Following the completion of the sale, the director directly owned 50,048 shares of the company's stock, valued at approximately $6,955,671.04. The trade was a 5.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.
ArcBest Price Performance
NASDAQ:ARCB opened at $137.43 on Tuesday. ArcBest Corporation has a 52 week low of $59.43 and a 52 week high of $176.69. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 199.17, a P/E/G ratio of 0.45 and a beta of 1.57. The firm's 50-day simple moving average is $149.62 and its 200 day simple moving average is $121.91. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.97.
ArcBest (NASDAQ:ARCB - Get Free Report) last posted its quarterly earnings data 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. ArcBest had a net margin of 0.39% and a return on equity of 7.92%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the firm posted $1.36 EPS. The business's revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, sell-side analysts predict that ArcBest Corporation will post 6.9 earnings per share for the current year.
ArcBest Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors 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 0.3%. The ex-dividend date is Friday, August 7th. ArcBest's payout ratio is 69.57%.
Analyst Upgrades and Downgrades
ARCB has been the topic of a number of recent research reports. Citigroup lowered their price objective on ArcBest from $178.00 to $171.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. Stephens upgraded ArcBest to a "strong-buy" rating in a research report on Wednesday, July 8th. Weiss Ratings lowered ArcBest from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, May 28th. Wells Fargo & Company raised their price target on ArcBest from $130.00 to $150.00 and gave the stock an "equal weight" rating in a research report on Friday, June 5th. Finally, TD Cowen cut their price objective on shares of ArcBest from $175.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $154.23.
Read Our Latest Report on ARCB
Institutional Trading of ArcBest
Large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of ArcBest in the second quarter worth about $503,476,000. Vanguard Group Inc. grew its holdings in shares of ArcBest by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 2,451,162 shares of the transportation company's stock valued at $181,852,000 after purchasing an additional 6,808 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of ArcBest by 3.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,397,287 shares of the transportation company's stock valued at $137,429,000 after purchasing an additional 47,848 shares during the last quarter. Invesco Ltd. increased its position in ArcBest by 625.4% during the 4th quarter. Invesco Ltd. now owns 920,498 shares of the transportation company's stock worth $68,292,000 after purchasing an additional 793,607 shares in the last quarter. Finally, Turtle Creek Asset Management Inc. bought a new position in ArcBest in the 3rd quarter valued at approximately $39,508,000. 99.27% of the stock is owned by institutional investors and hedge funds.
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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