Michael E. Newcity Sells 10,443 Shares of ArcBest Co. (NASDAQ:ARCB) Stock

ArcBest Co. (NASDAQ:ARCB) SVP Michael E. Newcity sold 10,443 shares of ArcBest stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total value of $1,259,425.80. Following the transaction, the senior vice president now owns 5,051 shares in the company, valued at approximately $609,150.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

ArcBest Stock Up 3.2 %

ARCB stock opened at $116.43 on Friday. ArcBest Co. has a twelve month low of $94.76 and a twelve month high of $153.60. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 3.04 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 business has a 50 day moving average price of $105.14 and a two-hundred day moving average price of $109.14.

ArcBest (NASDAQ:ARCB) last issued its earnings results on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.20). The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. ArcBest had a return on equity of 14.27% and a net margin of 4.54%. ArcBest’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.31 earnings per share. Analysts anticipate that ArcBest Co. will post 6.19 EPS for the current fiscal year.

ArcBest Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.48 annualized dividend and a yield of 0.41%. ArcBest’s dividend payout ratio (DPR) is currently 5.93%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ARCB shares. The Goldman Sachs Group cut their price objective on ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. UBS Group cut their price target on shares of ArcBest from $111.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Jefferies Financial Group lowered their price objective on shares of ArcBest from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. StockNews.com raised shares of ArcBest from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd. Finally, Wolfe Research lowered shares of ArcBest from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $123.17.

Hedge Funds Weigh In On ArcBest

Hedge funds and other institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC lifted its position in shares of ArcBest by 2.8% in the first quarter. Janney Montgomery Scott LLC now owns 25,397 shares of the transportation company’s stock valued at $3,619,000 after buying an additional 694 shares during the last quarter. GSA Capital Partners LLP raised its stake in ArcBest by 135.1% in the 1st quarter. GSA Capital Partners LLP now owns 5,130 shares of the transportation company’s stock valued at $731,000 after acquiring an additional 2,948 shares during the period. Texas Permanent School Fund Corp lifted its holdings in ArcBest by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 20,709 shares of the transportation company’s stock valued at $2,951,000 after purchasing an additional 268 shares during the last quarter. Lisanti Capital Growth LLC bought a new position in ArcBest during the first quarter worth $3,524,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of ArcBest in the first quarter valued at $370,000. Institutional investors own 99.27% of the company’s stock.

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.