Key Points
- ArcBest VP Jason Parks sold 855 shares for approximately $115,502, reducing his ownership by 18.39% to 3,794 shares.
- ArcBest recently beat quarterly earnings and revenue estimates, reporting $2.38 in EPS and $1.18 billion in revenue, with revenue up 15.9% year over year.
- 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 stock.
ArcBest Corporation (NASDAQ:ARCB - Get Free Report) VP Jason Parks sold 855 shares of ArcBest stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $135.09, for a total value of $115,501.95. Following the completion of the sale, the vice president owned 3,794 shares in the company, valued at approximately $512,531.46. The trade was a 18.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
ArcBest Price Performance
NASDAQ:ARCB opened at $134.80 on Wednesday. The stock has a 50 day moving average of $142.96 and a two-hundred day moving average of $128.95. ArcBest Corporation has a 12 month low of $59.43 and a 12 month high of $176.69. The firm has a market cap of $3.01 billion, a P/E ratio of 195.36, a price-to-earnings-growth ratio of 0.42 and a beta of 1.55. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10.
ArcBest (NASDAQ:ARCB - Get Free Report) last released its earnings results on Wednesday, July 29th. The transportation company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.12. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. ArcBest had a return on equity of 7.92% and a net margin of 0.39%.The business's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.36 earnings per share. On average, analysts expect that ArcBest Corporation will post 6.98 earnings per share for the current fiscal year.
ArcBest Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, August 7th. ArcBest's dividend payout ratio is currently 69.57%.
Wall Street Analyst Weigh In
ARCB has been the topic of several recent research reports. Zacks Research cut shares of ArcBest from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 5th. Stephens upgraded shares of ArcBest to a "strong-buy" rating in a research report on Wednesday, July 8th. Citizens Jmp began coverage on shares of ArcBest in a research note on Wednesday, July 15th. They issued a "market outperform" rating and a $180.00 price target on the stock. Stifel Nicolaus boosted their price target on shares of ArcBest from $134.00 to $176.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Finally, Wells Fargo & Company upped their price objective on shares of ArcBest from $130.00 to $150.00 and gave the company an "equal weight" rating in a research note on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, ArcBest currently has an average rating of "Moderate Buy" and an average target price of $154.23.
Check Out Our Latest Stock Report on ArcBest
Hedge Funds Weigh In On ArcBest
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of ArcBest during the 2nd quarter worth approximately $503,476,000. Encompass Capital Advisors LLC purchased a new stake in shares of ArcBest during the 4th quarter valued at approximately $20,402,000. Bank of New York Mellon Corp acquired a new position in ArcBest in the second quarter valued at approximately $27,281,000. Empowered Funds LLC acquired a new position in ArcBest in the second quarter valued at approximately $20,787,000. Finally, Maple Rock Capital Partners Inc. grew its position in ArcBest by 32.5% in the second quarter. Maple Rock Capital Partners Inc. now owns 535,746 shares of the transportation company's stock worth $76,901,000 after acquiring an additional 131,400 shares during the period. Institutional investors and hedge funds own 99.27% of the company's stock.
ArcBest Company Profile
(
Get Free Report)
ArcBest Corporation (NASDAQ: ARCB) is a North American logistics company headquartered in Fort Smith, Arkansas. Through its subsidiaries and service offerings, the company provides freight transportation, supply chain management and logistics solutions for businesses of various sizes.
Its asset-based operations are primarily conducted through ABF Freight, a less-than-truckload carrier that transports palletized and other freight across the United States, Canada and Mexico. ABF Freight offers regional, interregional and long-haul services, as well as time-critical, expedited, guaranteed and specialized transportation solutions.
ArcBest also provides asset-light logistics services, including truckload, expedited, final-mile, intermodal, international and managed transportation solutions.
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