ArcBest Co. (NASDAQ:ARCB) Director Craig E. Philip Sells 3,900 Shares of Stock

ArcBest Co. (NASDAQ:ARCB) Director Craig E. Philip sold 3,900 shares of ArcBest stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $109.91, for a total value of $428,649.00. Following the transaction, the director now directly owns 23,250 shares of the company’s stock, valued at approximately $2,555,407.50. This represents a 14.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

ArcBest Stock Performance

NASDAQ ARCB opened at $112.58 on Tuesday. The business’s 50-day moving average price is $107.14 and its 200 day moving average price is $108.39. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. ArcBest Co. has a twelve month low of $94.76 and a twelve month high of $153.60. The company has a market capitalization of $2.63 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 2.06 and a beta of 1.47.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.20). ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the company earned $2.31 earnings per share. The company’s revenue was down 5.8% on a year-over-year basis. On average, research analysts predict that ArcBest Co. will post 6.19 earnings per share for the current year.

ArcBest Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.43%. ArcBest’s dividend payout ratio (DPR) is presently 5.93%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ARCB. Wells Fargo & Company cut their price target on ArcBest from $112.00 to $105.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. The Goldman Sachs Group reduced their price target on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. UBS Group dropped their price objective on shares of ArcBest from $111.00 to $110.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Stifel Nicolaus reduced their target price on ArcBest from $131.00 to $119.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Finally, Citigroup raised their price target on ArcBest from $110.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ArcBest currently has an average rating of “Hold” and a consensus target price of $124.50.

Institutional Trading of ArcBest

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP boosted its holdings in ArcBest by 120.7% in the second quarter. Quarry LP now owns 245 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 134 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of ArcBest in the 2nd quarter valued at about $33,000. Quest Partners LLC purchased a new stake in shares of ArcBest during the 2nd quarter worth about $36,000. Cultivar Capital Inc. purchased a new stake in shares of ArcBest during the 2nd quarter worth about $43,000. Finally, Mather Group LLC. acquired a new stake in ArcBest during the 2nd quarter worth approximately $46,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.

ArcBest Company Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.