Judy Mcreynolds Sells 1,500 Shares of ArcBest (NASDAQ:ARCB) Stock

ArcBest Corporation (NASDAQ:ARCB) Director Judy Mcreynolds sold 1,500 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $144.78, for a total transaction of $217,170.00. Following the sale, the director directly owned 61,348 shares in the company, valued at $8,881,963.44. This represents a 2.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

ArcBest Stock Performance

NASDAQ ARCB opened at $137.76 on Friday. ArcBest Corporation has a 1-year low of $59.43 and a 1-year high of $176.69. The company has a 50 day moving average of $149.68 and a 200-day moving average of $121.34. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 199.65, a PEG ratio of 0.44 and a beta of 1.57.

ArcBest (NASDAQ:ARCB) last announced its earnings results on Wednesday, July 29th. The transportation company reported $2.38 EPS for the quarter, topping 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%.ArcBest’s revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.36 EPS. On average, equities analysts forecast that ArcBest Corporation will post 6.9 earnings per share for the current fiscal year.

ArcBest Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.48 dividend on an annualized basis and a yield of 0.3%. ArcBest’s payout ratio is currently 69.57%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ARCB. Federated Hermes Inc. raised its position in shares of ArcBest by 126.6% during the fourth quarter. Federated Hermes Inc. now owns 1,015 shares of the transportation company’s stock worth $75,000 after acquiring an additional 567 shares during the last quarter. Hantz Financial Services Inc. increased its position in ArcBest by 507.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock worth $83,000 after purchasing an additional 934 shares during the period. Canada Pension Plan Investment Board acquired a new stake in ArcBest in the second quarter worth about $85,000. Assetmark Inc. raised its holdings in ArcBest by 5,940.0% during the 4th quarter. Assetmark Inc. now owns 1,208 shares of the transportation company’s stock worth $90,000 after purchasing an additional 1,188 shares during the last quarter. Finally, KBC Group NV raised its holdings in ArcBest by 69.4% during the 4th quarter. KBC Group NV now owns 1,299 shares of the transportation company’s stock worth $96,000 after purchasing an additional 532 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ARCB has been the topic of several research analyst reports. Truist Financial increased their target price on ArcBest from $145.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Wells Fargo & Company lifted their price target on ArcBest from $130.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, June 5th. Stephens upgraded shares of ArcBest to a “strong-buy” rating in a research report on Wednesday, July 8th. Stifel Nicolaus increased their price objective on shares of ArcBest from $134.00 to $176.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Finally, Citigroup lowered their price objective on shares of ArcBest from $178.00 to $171.00 and set a “buy” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $154.23.

About ArcBest

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.