ArcBest Co. (NASDAQ:ARCB - Get Free Report) SVP Michael E. Newcity sold 10,443 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.60, for a total transaction of $1,259,425.80. Following the transaction, the senior vice president now owns 5,051 shares in the company, valued at $609,150.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.
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 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 business has a 50 day moving average price of $105.14 and a two-hundred day moving average price of $109.39.
ArcBest (NASDAQ:ARCB - Get Free Report) 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 6.69 EPS for the current fiscal year.
ArcBest Dividend Announcement
📉 Warning: Market Crash Predicted - Secure Your Savings
From Behind the Markets | Ad
The last time the "Buffett Indicator" flashed this red was in 2000 - right before the market crashed 50%.
Take these 4 steps to protect your retirement here >>>
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 issued a dividend of $0.12 per share. 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 payout ratio is currently 5.93%.
Hedge Funds Weigh In On ArcBest
A number of institutional investors have recently bought and sold shares of the business. Quarry LP increased its holdings in shares of ArcBest by 120.7% during the 2nd quarter. Quarry LP now owns 245 shares of the transportation company's stock worth $26,000 after acquiring an additional 134 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of ArcBest during the 2nd quarter worth about $33,000. Quest Partners LLC bought a new stake in shares of ArcBest during the second quarter worth approximately $36,000. Cultivar Capital Inc. bought a new stake in ArcBest in the 2nd quarter valued at $43,000. Finally, Mather Group LLC. bought a new stake in shares of ArcBest in the second quarter valued at about $46,000. Institutional investors and hedge funds own 99.27% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the company. Stephens restated an "overweight" rating and set a $130.00 target price on shares of ArcBest in a research report on Wednesday, September 4th. UBS Group lowered their price target on shares of ArcBest from $111.00 to $110.00 and set a "neutral" rating for the company in a research report on Monday, November 4th. Stifel Nicolaus cut 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 lowered their target price on shares of ArcBest from $133.00 to $125.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. Finally, Bank of America reduced their price target on ArcBest from $102.00 to $99.00 and set an "underperform" rating on the stock in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, ArcBest currently has an average rating of "Hold" and a consensus price target of $123.17.
Get Our Latest Stock Analysis on ArcBest
ArcBest Company Profile
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
