ArcBest Co. (NASDAQ:ARCB - Get Free Report) CFO John Matthew Beasley bought 700 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the completion of the acquisition, the chief financial officer now owns 8,142 shares in the company, valued at approximately $609,754.38. This trade represents a 9.41 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
ArcBest Stock Up 0.2 %
NASDAQ:ARCB opened at $73.03 on Friday. ArcBest Co. has a one year low of $70.96 and a one year high of $153.61. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.04. The company has a market cap of $1.69 billion, a PE ratio of 9.96, a P/E/G ratio of 1.70 and a beta of 1.54. The firm's 50 day simple moving average is $90.45 and its 200 day simple moving average is $100.27.
ArcBest (NASDAQ:ARCB - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The transportation company reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.22. ArcBest had a net margin of 4.16% and a return on equity of 11.79%. During the same quarter last year, the firm earned $2.47 EPS. On average, research analysts anticipate that ArcBest Co. will post 7 earnings per share for the current year.
ArcBest Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.48 annualized dividend and a dividend yield of 0.66%. ArcBest's payout ratio is 6.55%.
Analysts Set New Price Targets
ARCB has been the topic of several analyst reports. Morgan Stanley reduced their price target on shares of ArcBest from $160.00 to $145.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Truist Financial began coverage on ArcBest in a report on Thursday. They issued a "buy" rating and a $93.00 target price on the stock. Bank of America lowered their price target on ArcBest from $100.00 to $73.00 and set an "underperform" rating for the company in a report on Wednesday. Wells Fargo & Company reduced their price objective on ArcBest from $105.00 to $96.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. Finally, Stifel Nicolaus boosted their target price on ArcBest from $109.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, ArcBest presently has an average rating of "Hold" and an average target price of $109.75.
View Our Latest Stock Analysis on ArcBest
Hedge Funds Weigh In On ArcBest
A number of hedge funds have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in ArcBest during the 4th quarter valued at approximately $2,994,000. Mackenzie Financial Corp boosted its stake in shares of ArcBest by 71.0% in the 4th quarter. Mackenzie Financial Corp now owns 15,449 shares of the transportation company's stock valued at $1,442,000 after purchasing an additional 6,412 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of ArcBest by 3.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 35,270 shares of the transportation company's stock worth $3,291,000 after buying an additional 1,146 shares during the period. Zimmer Partners LP raised its stake in ArcBest by 23.5% during the fourth quarter. Zimmer Partners LP now owns 105,000 shares of the transportation company's stock worth $9,799,000 after buying an additional 20,000 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its holdings in ArcBest by 2.6% in the fourth quarter. Westwood Holdings Group Inc. now owns 635,858 shares of the transportation company's stock valued at $59,338,000 after buying an additional 16,239 shares during the period. 99.27% of the stock is currently owned by institutional investors.
About ArcBest
(
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.
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