ArcBest Corporation (NASDAQ:ARCB – Get Free Report) insider Ralph Edward Sorg sold 6,000 shares of the business’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $131.28, for a total value of $787,680.00. Following the transaction, the insider directly owned 16,624 shares of the company’s stock, valued at approximately $2,182,398.72. The trade was a 26.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.
ArcBest Stock Up 1.0%
ARCB stock opened at $133.85 on Wednesday. The stock has a market capitalization of $2.95 billion, a P/E ratio of 105.39, a price-to-earnings-growth ratio of 0.37 and a beta of 1.71. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08. ArcBest Corporation has a 12 month low of $59.43 and a 12 month high of $176.69. The firm has a 50-day moving average price of $131.02 and a 200-day moving average price of $125.77.
ArcBest (NASDAQ:ARCB – Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The transportation company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.12. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.20 billion. ArcBest had a net margin of 0.66% and a return on equity of 9.93%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the company posted $1.46 EPS. As a group, equities research analysts anticipate that ArcBest Corporation will post 7.42 EPS for the current fiscal year.
ArcBest Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be given a $0.12 dividend. The ex-dividend date is Friday, November 13th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. ArcBest’s dividend payout ratio (DPR) is currently 37.80%.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. UBS Group dropped their price target on ArcBest from $154.00 to $146.00 and set a “neutral” rating for the company in a research note on Thursday, November 5th. Citigroup boosted their price objective on ArcBest from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 5th. TD Cowen lowered their target price on ArcBest from $155.00 to $146.00 and set a “hold” rating for the company in a report on Wednesday, November 4th. Citizens Jmp began coverage on ArcBest in a report on Wednesday, July 15th. They issued a “market outperform” rating and a $180.00 target price for the company. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of ArcBest in a research report on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $153.54.
View Our Latest Stock Analysis on ArcBest
ArcBest News Summary
Here are the key news stories impacting ArcBest this week:
- Positive Sentiment: ArcBest’s selective freight strategy is helping lift quarterly profit. Its latest reported results beat estimates, with earnings of $2.62 per share versus $2.50 expected and revenue of $1.21 billion versus $1.20 billion; revenue rose 15.5% year over year. ArcBest’s selective freight strategy is paying off
- Positive Sentiment: Zacks reports that analysts’ average price target implies about 25% potential upside and says upward earnings-estimate revisions provide a more meaningful positive signal than price targets alone. Wall Street analysts predict upside in ArcBest
- Neutral Sentiment: UBS assigned ArcBest a Hold rating, indicating a balanced view rather than a clear near-term catalyst. UBS releases a Hold rating on ArcBest
- Negative Sentiment: Insider Ralph Edward Sorg sold 6,000 shares for about $788,000, reducing his reported holdings by 26.52%. He still retained 16,624 shares; insider sales can weigh on sentiment but do not necessarily reflect the company’s outlook. SEC filing for insider transaction
Institutional Investors Weigh In On ArcBest
Institutional investors have recently added to or reduced their stakes in the business. Glenmede Trust Co. NA increased its position in ArcBest by 1.5% in the 1st quarter. Glenmede Trust Co. NA now owns 6,162 shares of the transportation company’s stock valued at $606,000 after acquiring an additional 93 shares during the period. Crossmark Global Holdings Inc. raised its stake in shares of ArcBest by 4.0% during the third quarter. Crossmark Global Holdings Inc. now owns 2,869 shares of the transportation company’s stock valued at $366,000 after acquiring an additional 110 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of ArcBest by 8.2% during the first quarter. PNC Financial Services Group Inc. now owns 1,775 shares of the transportation company’s stock valued at $175,000 after acquiring an additional 134 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of ArcBest by 6.3% during the third quarter. GAMMA Investing LLC now owns 2,503 shares of the transportation company’s stock worth $319,000 after purchasing an additional 149 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in shares of ArcBest by 51.3% during the third quarter. Parallel Advisors LLC now owns 466 shares of the transportation company’s stock worth $59,000 after purchasing an additional 158 shares during the period. 99.27% of the stock is owned by institutional investors.
About ArcBest
ArcBest Corporation is a transportation and logistics company headquartered in Fort Smith, Arkansas. Its services include less-than-truckload freight through ABF Freight, as well as truckload, expedited transportation, freight brokerage, managed transportation and other supply chain solutions. The company serves businesses across North America and supports shipments to and from international markets through its transportation and logistics network. ArcBest traces its roots to 1923, when its predecessor began providing freight transportation services in Arkansas.
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