ArcBest Co. (NASDAQ:ARCB) SVP Sells $1,259,425.80 in Stock

ArcBest Co. (NASDAQ:ARCB) SVP Michael E. Newcity sold 10,443 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.60, for a total value of $1,259,425.80. Following the completion of the sale, the senior vice president now owns 5,051 shares in the company, valued at approximately $609,150.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

ArcBest Price Performance

Shares of NASDAQ ARCB traded up $2.90 during midday trading on Friday, hitting $115.76. The stock had a trading volume of 132,652 shares, compared to its average volume of 289,229. ArcBest Co. has a 1 year low of $94.76 and a 1 year high of $153.60. The company has a market capitalization of $2.71 billion, a PE ratio of 13.93, a P/E/G ratio of 1.36 and a beta of 1.47. The company has a quick ratio of 1.19, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. The stock has a 50 day simple moving average of $104.94 and a 200-day simple moving average of $109.55.

ArcBest (NASDAQ:ARCB) last posted its earnings results on Friday, November 1st. The transportation company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). ArcBest had a net margin of 4.54% and a return on equity of 14.27%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company earned $2.31 EPS. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. On average, sell-side analysts expect that ArcBest Co. will post 6.69 EPS for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Wednesday, November 13th. ArcBest’s dividend payout ratio is presently 5.93%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ARCB. UniSuper Management Pty Ltd acquired a new stake in shares of ArcBest in the first quarter valued at approximately $666,000. Inspire Investing LLC increased its stake in shares of ArcBest by 39.6% during the 1st quarter. Inspire Investing LLC now owns 15,002 shares of the transportation company’s stock worth $2,138,000 after purchasing an additional 4,258 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of ArcBest by 54.5% in the first 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 last quarter. Kennedy Capital Management LLC raised its position in shares of ArcBest by 235.3% in the first quarter. Kennedy Capital Management LLC now owns 33,482 shares of the transportation company’s stock valued at $4,771,000 after buying an additional 23,497 shares during the last quarter. Finally, Impala Asset Management LLC purchased a new position in shares of ArcBest during the 2nd quarter worth $2,409,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ARCB. Citigroup assumed coverage on shares of ArcBest in a research report on Wednesday, October 9th. They issued a “neutral” rating and a $111.00 target price on the stock. Bank of America decreased their price target on shares of ArcBest from $102.00 to $99.00 and set an “underperform” rating for the company in a research note on Wednesday, September 4th. Stephens reaffirmed an “overweight” rating and set a $130.00 price objective on shares of ArcBest in a report on Wednesday, September 4th. UBS Group reduced their price objective on ArcBest from $111.00 to $110.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Stifel Nicolaus reduced their price objective on ArcBest from $131.00 to $119.00 and set a “buy” rating for the company in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, ArcBest currently has an average rating of “Hold” and a consensus target price of $123.17.

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.