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

ArcBest Corporation (NASDAQ:ARCB) insider Erin Gattis sold 6,163 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $140.00, for a total transaction of $862,820.00. Following the completion of the sale, the insider directly owned 24,286 shares of the company’s stock, valued at approximately $3,400,040. The trade was a 20.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

ArcBest Trading Down 4.5%

ARCB opened at $135.25 on Friday. ArcBest Corporation has a one year low of $59.43 and a one year high of $176.69. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 196.01, a P/E/G ratio of 0.46 and a beta of 1.57. The stock’s 50 day moving average price is $149.66 and its 200-day moving average price is $121.22.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Wednesday, July 29th. The transportation company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.26 by $0.12. ArcBest had a return on equity of 7.92% and a net margin of 0.39%.The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the company posted $1.36 EPS. ArcBest’s quarterly revenue was up 15.9% on a year-over-year basis. On average, equities analysts forecast that ArcBest Corporation will post 6.9 EPS for the current year.

ArcBest Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, August 7th. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. ArcBest’s dividend payout ratio (DPR) is presently 69.57%.

Institutional Trading of ArcBest

Institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC lifted its position in ArcBest by 300.3% during the first quarter. AQR Capital Management LLC now owns 26,896 shares of the transportation company’s stock valued at $1,898,000 after purchasing an additional 20,177 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of ArcBest by 4.6% during the 1st 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of ArcBest by 215.8% in the 1st 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 period. Jane Street Group LLC lifted its holdings in shares of ArcBest by 278.2% in the 1st 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 period. Finally, Intech Investment Management LLC boosted its stake 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 last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of ArcBest from $145.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Stifel Nicolaus boosted their price target on 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 upped their price objective on ArcBest from $130.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Friday, June 5th. Zacks Research upgraded ArcBest from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $172.00 price target on shares of ArcBest in a research report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.