Daniel E. Loe Sells 7,555 Shares of ArcBest Co. (NASDAQ:ARCB) Stock

ArcBest Co. (NASDAQ:ARCBGet Rating) insider Daniel E. Loe sold 7,555 shares of the stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $81.14, for a total transaction of $613,012.70. Following the sale, the insider now directly owns 26,615 shares of the company’s stock, valued at approximately $2,159,541.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

ArcBest Stock Down 3.9 %

Shares of ArcBest stock opened at $82.11 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.32 and a quick ratio of 1.32. The company has a 50-day moving average of $76.19 and a 200 day moving average of $77.71. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 6.49, a PEG ratio of 0.35 and a beta of 1.56. ArcBest Co. has a 1 year low of $65.15 and a 1 year high of $125.00.

ArcBest (NASDAQ:ARCBGet Rating) last issued its quarterly earnings results on Tuesday, November 1st. The transportation company reported $3.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.72 by $0.08. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. ArcBest had a net margin of 6.20% and a return on equity of 35.11%. ArcBest’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same period last year, the business earned $2.59 EPS. As a group, sell-side analysts anticipate that ArcBest Co. will post 13.94 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 11th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, November 9th. This represents a $0.48 annualized dividend and a dividend yield of 0.58%. ArcBest’s payout ratio is 3.79%.

Analysts Set New Price Targets

Several brokerages have weighed in on ARCB. Morgan Stanley dropped their price target on shares of ArcBest from $140.00 to $139.00 and set an “overweight” rating for the company in a research report on Wednesday, November 9th. Citigroup dropped their target price on shares of ArcBest from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, October 7th. Cowen dropped their target price on shares of ArcBest to $127.00 in a research report on Tuesday, August 9th. Stephens raised their target price on shares of ArcBest from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, August 1st. Finally, Stifel Nicolaus dropped their target price on shares of ArcBest from $143.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, August 2nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $113.67.

Institutional Trading of ArcBest

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Captrust Financial Advisors increased its stake in ArcBest by 3.5% during the 2nd quarter. Captrust Financial Advisors now owns 3,976 shares of the transportation company’s stock valued at $280,000 after purchasing an additional 136 shares in the last quarter. Royal Bank of Canada increased its stake in ArcBest by 14.0% during the 3rd quarter. Royal Bank of Canada now owns 1,297 shares of the transportation company’s stock valued at $95,000 after purchasing an additional 159 shares in the last quarter. Parallel Advisors LLC increased its stake in ArcBest by 40.1% during the 1st quarter. Parallel Advisors LLC now owns 632 shares of the transportation company’s stock valued at $54,000 after purchasing an additional 181 shares in the last quarter. Assetmark Inc. increased its stake in ArcBest by 103.3% during the 2nd quarter. Assetmark Inc. now owns 374 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 190 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in ArcBest by 0.7% during the 3rd quarter. Federated Hermes Inc. now owns 27,677 shares of the transportation company’s stock valued at $2,013,000 after purchasing an additional 193 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors.

About ArcBest

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ArcBest Corporation provides freight transportation and integrated logistics services. It operates through three segments: Asset-Based, ArcBest, and FleetNet. The Asset-Based segment transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, nonbulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products through less-than-truckload services.

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