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 firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $109.91, for a total value of $428,649.00. Following the sale, the director now owns 23,250 shares of the company’s stock, valued at $2,555,407.50. The trade was a 14.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

ArcBest Stock Up 0.4 %

Shares of ARCB stock opened at $113.50 on Thursday. The stock’s 50 day simple moving average is $107.37 and its 200 day simple moving average is $108.34. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. 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 $2.66 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 2.11 and a beta of 1.47.

ArcBest (NASDAQ:ARCB) last issued 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). The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.07 billion. ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The business’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.31 earnings per share. As a group, research analysts predict that ArcBest Co. will post 6.19 EPS for the current year.

ArcBest Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company reduced their price target on ArcBest from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. The Goldman Sachs Group reduced their price target on ArcBest from $133.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Citigroup lifted their price target on ArcBest from $110.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Jefferies Financial Group reduced their price target on ArcBest from $140.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Finally, Wolfe Research lowered ArcBest from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, ArcBest currently has an average rating of “Hold” and an average target price of $124.50.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ARCB. Quarry LP increased its position in ArcBest by 120.7% in the 2nd quarter. Quarry LP now owns 245 shares of the transportation company’s stock worth $26,000 after buying an additional 134 shares during the period. Innealta Capital LLC bought a new position in ArcBest in the 2nd quarter worth approximately $33,000. Quest Partners LLC bought a new stake in shares of ArcBest during the second quarter valued at approximately $36,000. Cultivar Capital Inc. bought a new stake in shares of ArcBest during the second quarter valued at approximately $43,000. Finally, Mather Group LLC. bought a new stake in shares of ArcBest during the second quarter valued at approximately $46,000. 99.27% of the stock is owned by institutional investors.

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.