Key Points
- ArcBest insider Ralph Edward Sorg sold 6,000 shares for $787,680, reducing his holdings by 26.52% to 16,624 shares.
- Quarterly results beat expectations: earnings were $2.62 per share versus $2.50 expected, while revenue of $1.21 billion rose 15.5% year over year.
- Analysts give ArcBest a “Moderate Buy” consensus rating with an average price target of $153.54; the company also announced a quarterly dividend of $0.12 per share.
ArcBest Corporation (NASDAQ:ARCB - Get Free Report) insider Ralph Edward Sorg sold 6,000 shares of the company's stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $131.28, for a total value of $787,680.00. Following the completion of the sale, the insider owned 16,624 shares in the company, valued at $2,182,398.72. This trade represents a 26.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
ArcBest Trading Up 1.0%
Shares of ARCB stock opened at $133.85 on Wednesday. ArcBest Corporation has a 1-year low of $59.43 and a 1-year high of $176.69. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 105.39, a PEG ratio of 0.37 and a beta of 1.71. The stock has a 50-day moving average of $131.02 and a 200-day moving average of $125.77.
ArcBest (NASDAQ:ARCB - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The transportation company reported $2.62 EPS for the quarter, topping analysts' consensus estimates of $2.50 by $0.12. ArcBest had a return on equity of 9.93% and a net margin of 0.66%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the firm earned $1.46 earnings per share. The firm's quarterly revenue was up 15.5% on a year-over-year basis. On average, equities research analysts forecast that ArcBest Corporation will post 7.42 earnings per share for the current year.
ArcBest Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, November 13th. ArcBest's dividend payout ratio is currently 37.80%.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on ARCB shares. Citigroup boosted their price target on shares of ArcBest from $170.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, November 5th. Wall Street Zen raised shares of ArcBest from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 31st. TD Cowen decreased their price objective on shares of ArcBest from $155.00 to $146.00 and set a "hold" rating for the company in a research report on Wednesday, November 4th. UBS Group decreased their price objective on shares of ArcBest from $154.00 to $146.00 and set a "neutral" rating for the company in a research report on Thursday, November 5th. Finally, Zacks Research downgraded shares of ArcBest from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, ArcBest has an average rating of "Moderate Buy" and an average target price of $153.54.
Get Our Latest Research Report on ARCB
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. Public Sector Pension Investment Board increased its holdings in ArcBest by 20.3% in the third quarter. Public Sector Pension Investment Board now owns 91,998 shares of the transportation company's stock worth $11,939,000 after purchasing an additional 15,517 shares in the last quarter. Cibc World Market Inc. acquired a new position in ArcBest in the third quarter valued at approximately $7,745,000. Intech Investment Management LLC lifted its stake in ArcBest by 8.8% in the third quarter. Intech Investment Management LLC now owns 19,997 shares of the transportation company's stock valued at $2,548,000 after buying an additional 1,617 shares during the period. Virtus Advisers LLC boosted its holdings in shares of ArcBest by 127.2% during the 3rd quarter. Virtus Advisers LLC now owns 6,056 shares of the transportation company's stock worth $772,000 after buying an additional 3,391 shares in the last quarter. Finally, Aberdeen Group plc boosted its holdings in shares of ArcBest by 20.9% during the 3rd quarter. Aberdeen Group plc now owns 127,234 shares of the transportation company's stock worth $16,215,000 after buying an additional 21,953 shares in the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.
Key Headlines Impacting ArcBest
Here are the key news stories impacting ArcBest this week:
- Positive Sentiment: ArcBest’s selective freight strategy is helping lift quarterly profit. Its latest reported results beat estimates, with earnings of $2.62 per share versus $2.50 expected and revenue of $1.21 billion versus $1.20 billion; revenue rose 15.5% year over year. ArcBest's selective freight strategy is paying off
- Positive Sentiment: Zacks reports that analysts’ average price target implies about 25% potential upside and says upward earnings-estimate revisions provide a more meaningful positive signal than price targets alone. Wall Street analysts predict upside in ArcBest
- Neutral Sentiment: UBS assigned ArcBest a Hold rating, indicating a balanced view rather than a clear near-term catalyst. UBS releases a Hold rating on ArcBest
- Negative Sentiment: Insider Ralph Edward Sorg sold 6,000 shares for about $788,000, reducing his reported holdings by 26.52%. He still retained 16,624 shares; insider sales can weigh on sentiment but do not necessarily reflect the company’s outlook. SEC filing for insider transaction
ArcBest Company Profile
(
Get Free Report)
ArcBest Corporation is a transportation and logistics company headquartered in Fort Smith, Arkansas. Its services include less-than-truckload freight through ABF Freight, as well as truckload, expedited transportation, freight brokerage, managed transportation and other supply chain solutions. The company serves businesses across North America and supports shipments to and from international markets through its transportation and logistics network. ArcBest traces its roots to 1923, when its predecessor began providing freight transportation services in Arkansas.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
