ArcBest (NASDAQ:ARCB) Insider Sells 6,163 Shares of Stock

Key Points

• ArcBest insider Erin Gattis sold 6,163 shares at an average price of $140, generating $862,820 and reducing their ownership by 20.24% to 24,286 shares.
• ArcBest reported quarterly EPS of $2.38, beating estimates by $0.12, while revenue rose 15.9% year over year to $1.18 billion.
• The company declared a quarterly dividend of $0.12 per share, equivalent to $0.48 annually and a 0.3% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $154.23.

ArcBest Corporation (NASDAQ:ARCB - Get Free Report) insider Erin Gattis sold 6,163 shares of the business's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $140.00, for a total transaction of $862,820.00. Following the transaction, the insider owned 24,286 shares of the company's stock, valued at $3,400,040. This trade represents a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

ArcBest Price Performance

Shares of ARCB stock traded down $2.64 on Wednesday, reaching $141.67. The company's stock had a trading volume of 330,486 shares, compared to its average volume of 375,436. The company has a market capitalization of $3.15 billion, a P/E ratio of 205.32, a PEG ratio of 0.45 and a beta of 1.57. ArcBest Corporation has a 12-month low of $59.43 and a 12-month high of $176.69. The stock's 50 day simple moving average is $149.47 and its 200-day simple moving average is $120.55. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.10.

ArcBest (NASDAQ:ARCB - Get Free Report) last announced its earnings results on Wednesday, July 29th. The transportation company reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $2.26 by $0.12. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. ArcBest had a return on equity of 7.92% and a net margin of 0.39%.The company's quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.36 EPS. As a group, equities analysts predict that ArcBest Corporation will post 6.9 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The business also recently declared 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. This represents a $0.48 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, August 7th. ArcBest's payout ratio is currently 69.57%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Weiss Ratings cut shares of ArcBest from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, May 28th. Stifel Nicolaus upped their target price 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. Wells Fargo & Company increased their target price on ArcBest from $130.00 to $150.00 and gave the company an "equal weight" rating in a research note on Friday, June 5th. The Goldman Sachs Group restated a "buy" rating and set a $172.00 price target on shares of ArcBest in a research report on Wednesday, July 29th. Finally, Stephens raised ArcBest to a "strong-buy" rating in a research note on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $154.23.

Institutional Investors Weigh In On ArcBest

A number of hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC raised its position in ArcBest by 300.3% in the 1st quarter. AQR Capital Management LLC now owns 26,896 shares of the transportation company's stock worth $1,898,000 after purchasing an additional 20,177 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in ArcBest by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,017 shares of the transportation company's stock valued at $989,000 after buying an additional 619 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of ArcBest by 215.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 153,138 shares of the transportation company's stock valued at $10,808,000 after buying an additional 104,643 shares during the last quarter. Jane Street Group LLC grew its stake in shares of ArcBest by 278.2% during the first quarter. Jane Street Group LLC now owns 45,591 shares of the transportation company's stock valued at $3,218,000 after buying an additional 33,537 shares during the last quarter. Finally, Intech Investment Management LLC increased its holdings in shares of ArcBest by 3.4% in the first quarter. Intech Investment Management LLC now owns 20,135 shares of the transportation company's stock worth $1,421,000 after buying an additional 655 shares during the period. 99.27% of the stock is currently owned by institutional investors.

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.

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