ArcBest (NASDAQ:ARCB) Insider Erin Gattis Sells 6,163 Shares

ArcBest Corporation (NASDAQ:ARCB) insider Erin Gattis sold 6,163 shares of ArcBest stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $140.00, for a total transaction of $862,820.00. Following the transaction, the insider directly owned 24,286 shares in the company, valued at $3,400,040. This trade represents a 20.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

ArcBest Price Performance

ARCB stock opened at $141.67 on Thursday. ArcBest Corporation has a 52-week low of $59.43 and a 52-week high of $176.69. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.10. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 205.32, a price-to-earnings-growth ratio of 0.47 and a beta of 1.57. The business has a fifty day moving average of $149.63 and a two-hundred day moving average of $120.91.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings results 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 business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the firm earned $1.36 EPS. The business’s revenue was up 15.9% on a year-over-year basis. As a group, research analysts anticipate that ArcBest Corporation will post 6.9 earnings per share for the current year.

ArcBest Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders 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 dividend payout ratio (DPR) is presently 69.57%.

Institutional Investors Weigh In On ArcBest

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. increased its position in ArcBest by 126.6% during the 4th quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock worth $75,000 after purchasing an additional 567 shares during the period. Hantz Financial Services Inc. lifted its holdings in shares of ArcBest by 507.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock valued at $83,000 after buying an additional 934 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of ArcBest in the second quarter valued at approximately $85,000. Assetmark Inc. boosted its stake in shares of ArcBest by 5,940.0% in the fourth quarter. Assetmark Inc. now owns 1,208 shares of the transportation company’s stock valued at $90,000 after buying an additional 1,188 shares in the last quarter. Finally, KBC Group NV grew its holdings in ArcBest by 69.4% during the fourth quarter. KBC Group NV now owns 1,299 shares of the transportation company’s stock worth $96,000 after acquiring an additional 532 shares during the period. 99.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ARCB shares. UBS Group lifted their price objective on shares of ArcBest from $145.00 to $154.00 and gave the stock a “neutral” rating in a research report on Monday. Zacks Research upgraded ArcBest from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Bank of America raised their price target on ArcBest from $138.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, June 5th. Wells Fargo & Company lifted their price target on ArcBest from $130.00 to $150.00 and gave the stock an “equal weight” rating in a report on Friday, June 5th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $172.00 price objective on shares of ArcBest in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $154.23.

ArcBest Company Profile

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.