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

ArcBest Co. (NASDAQ:ARCB) Director Craig E. Philip sold 3,900 shares of the stock in a transaction that occurred 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 trade represents a 14.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

ArcBest Trading Up 3.4 %

Shares of ARCB stock traded up $3.72 on Monday, reaching $113.63. 171,489 shares of the stock were exchanged, compared to its average volume of 287,064. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. The stock has a market cap of $2.66 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 2.06 and a beta of 1.47. The firm has a 50 day moving average of $107.14 and a two-hundred day moving average of $108.39. ArcBest Co. has a 1-year low of $94.76 and a 1-year high of $153.60.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings results on Friday, November 1st. The transportation company reported $1.64 EPS 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 firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the company earned $2.31 earnings per share. The business’s revenue was down 5.8% compared to the same quarter last year. On average, research analysts anticipate that ArcBest Co. will post 6.19 EPS for the current year.

ArcBest Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.48 annualized dividend and a yield of 0.42%. ArcBest’s dividend payout ratio is currently 5.93%.

Institutional Investors Weigh In On ArcBest

Several large investors have recently made changes to their positions in the business. O Shaughnessy Asset Management LLC boosted its position in ArcBest by 19.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,231 shares of the transportation company’s stock worth $460,000 after purchasing an additional 529 shares during the period. BOKF NA lifted its position in ArcBest by 54.5% during the 1st quarter. BOKF NA now owns 2,538 shares of the transportation company’s stock worth $361,000 after acquiring an additional 895 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in ArcBest by 54.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,660 shares of the transportation company’s stock worth $2,945,000 after acquiring an additional 7,291 shares during the period. Silvercrest Asset Management Group LLC grew its position in ArcBest by 3.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 62,671 shares of the transportation company’s stock valued at $8,931,000 after acquiring an additional 2,235 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in shares of ArcBest during the first quarter valued at approximately $464,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

Wall Street Analysts Forecast Growth

ARCB has been the subject of a number of recent analyst reports. TD Cowen downgraded ArcBest from a “buy” rating to a “hold” rating and reduced their target price for the company from $131.00 to $114.00 in a report on Monday, October 14th. Stifel Nicolaus decreased their price objective on shares of ArcBest from $131.00 to $119.00 and set a “buy” rating on the stock in a report on Monday, October 21st. JPMorgan Chase & Co. dropped their target price on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a report on Monday, November 4th. The Goldman Sachs Group decreased their price target on ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, UBS Group lowered their price target on ArcBest from $111.00 to $110.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $124.50.

About ArcBest

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.