Insider Selling: ArcBest Co. (NASDAQ:ARCB) Director Sells 3,900 Shares of Stock

ArcBest Co. (NASDAQ:ARCB) Director Craig E. Philip sold 3,900 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $109.91, for a total value of $428,649.00. Following the completion of the transaction, the director now directly owns 23,250 shares in the company, valued at approximately $2,555,407.50. This trade represents a 14.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

ArcBest Stock Up 3.4 %

Shares of NASDAQ:ARCB traded up $3.72 during trading on Monday, hitting $113.63. 171,489 shares of the company were exchanged, compared to its average volume of 287,064. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The firm’s 50 day moving average price is $107.14 and its 200-day moving average price is $108.39. The stock has a market capitalization of $2.66 billion, a P/E ratio of 13.57, a PEG ratio of 2.06 and a beta of 1.47. ArcBest Co. has a 12-month low of $94.76 and a 12-month high of $153.60.

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

ArcBest Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Wednesday, November 13th. ArcBest’s dividend payout ratio is currently 5.93%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ARCB. Stifel Nicolaus reduced their price objective on shares of ArcBest from $131.00 to $119.00 and set a “buy” rating on the stock in a report on Monday, October 21st. The Goldman Sachs Group reduced their price target on shares of ArcBest from $133.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Morgan Stanley lowered their price target on ArcBest from $175.00 to $170.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Citigroup raised their price objective on shares of ArcBest from $110.00 to $127.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. reduced their price target on ArcBest from $130.00 to $117.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $124.50.

Institutional Investors Weigh In On ArcBest

Several hedge funds have recently made changes to their positions in ARCB. Price T Rowe Associates Inc. MD lifted its position in ArcBest by 54.5% during the 1st 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 period. Kennedy Capital Management LLC raised its stake in shares of ArcBest by 235.3% during the first quarter. Kennedy Capital Management LLC now owns 33,482 shares of the transportation company’s stock worth $4,771,000 after purchasing an additional 23,497 shares during the last quarter. Impala Asset Management LLC purchased a new position in ArcBest in the 2nd quarter valued at $2,409,000. Point72 DIFC Ltd purchased a new position in ArcBest in the 2nd quarter valued at $641,000. Finally, Semanteon Capital Management LP acquired a new position in ArcBest in the 3rd quarter valued at $1,178,000. Institutional investors and hedge funds 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.