James A. Ingram Sells 6,918 Shares of ArcBest Corporation (ARCB) Stock
ArcBest Corporation (NASDAQ:ARCB) COO James A. Ingram sold 6,918 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $27.14, for a total transaction of $187,754.52. Following the transaction, the chief operating officer now owns 43,500 shares in the company, valued at approximately $1,180,590. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of ArcBest Corporation (ARCB) opened at 26.15 on Thursday. The stock’s 50 day moving average is $23.45 and its 200 day moving average is $24.49. The firm has a market capitalization of $672.21 million, a price-to-earnings ratio of 30.23 and a beta of 1.62. ArcBest Corporation has a 12 month low of $16.95 and a 12 month high of $33.95.
ArcBest Corporation (NASDAQ:ARCB) last released its quarterly earnings results on Friday, July 28th. The transportation company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. ArcBest Corporation had a net margin of 0.83% and a return on equity of 4.92%. The business had revenue of $720.40 million for the quarter, compared to analyst estimates of $721.11 million. During the same period last year, the firm earned $0.38 earnings per share. ArcBest Corporation’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts forecast that ArcBest Corporation will post $1.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Tuesday, August 8th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Friday, August 4th. ArcBest Corporation’s dividend payout ratio is 37.21%.
Institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its position in ArcBest Corporation by 8.7% in the second quarter. The Manufacturers Life Insurance Company now owns 21,032 shares of the transportation company’s stock worth $434,000 after buying an additional 1,683 shares in the last quarter. PDT Partners LLC raised its position in ArcBest Corporation by 22.6% in the second quarter. PDT Partners LLC now owns 55,300 shares of the transportation company’s stock worth $1,139,000 after buying an additional 10,200 shares in the last quarter. Petrus Trust Company LTA raised its position in ArcBest Corporation by 39.8% in the second quarter. Petrus Trust Company LTA now owns 14,047 shares of the transportation company’s stock worth $289,000 after buying an additional 3,996 shares in the last quarter. Voya Investment Management LLC raised its position in ArcBest Corporation by 4.7% in the second quarter. Voya Investment Management LLC now owns 33,561 shares of the transportation company’s stock worth $691,000 after buying an additional 1,503 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in ArcBest Corporation during the second quarter worth approximately $1,192,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on the stock. Stifel Nicolaus restated a “hold” rating on shares of ArcBest Corporation in a report on Thursday, August 3rd. BidaskClub downgraded shares of ArcBest Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. ValuEngine downgraded shares of ArcBest Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Cowen and Company boosted their price objective on shares of ArcBest Corporation from $24.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Finally, Deutsche Bank AG decreased their target price on shares of ArcBest Corporation from $33.00 to $25.00 and set a “hold” rating on the stock in a research report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $27.00.
ArcBest Corporation Company Profile
ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).
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