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 that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.60, for a total value of $1,259,425.80. Following the sale, the senior vice president now directly 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 transaction was disclosed in a filing with the SEC, which is available at this link.

ArcBest Trading Up 3.2 %

ARCB stock opened at $116.43 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. 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 P/E ratio of 14.37, a PEG ratio of 3.04 and a beta of 1.47. The business has a fifty day moving average of $105.14 and a 200-day moving average of $109.14.

ArcBest (NASDAQ:ARCB) last announced its quarterly earnings data on Friday, November 1st. The transportation company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.20). The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.07 billion. ArcBest had a return on equity of 14.27% and a net margin of 4.54%. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.31 earnings per share. As a group, equities research analysts expect that ArcBest Co. will post 6.19 EPS for the current year.

ArcBest Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders 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 dividend on an annualized basis and a yield of 0.41%. ArcBest’s payout ratio is presently 5.93%.

Analysts Set New Price Targets

Several analysts recently commented on the company. UBS Group decreased their price target on ArcBest from $111.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Morgan Stanley reduced their target price on shares of ArcBest from $175.00 to $170.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. JPMorgan Chase & Co. dropped their target price on shares of ArcBest from $130.00 to $117.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Jefferies Financial Group cut their price target on shares of ArcBest from $140.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Finally, Citigroup began coverage on shares of ArcBest in a research note on Wednesday, October 9th. They set a “neutral” rating and a $111.00 price objective on the stock. One research 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $123.17.

Institutional Trading of ArcBest

A number of institutional investors have recently bought and sold shares of ARCB. OneDigital Investment Advisors LLC boosted its position in shares of ArcBest by 3.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,509 shares of the transportation company’s stock worth $272,000 after purchasing an additional 86 shares during the last quarter. Avior Wealth Management LLC lifted its stake in ArcBest by 17.9% in the third quarter. Avior Wealth Management LLC now owns 625 shares of the transportation company’s stock valued at $68,000 after buying an additional 95 shares during the period. Louisiana State Employees Retirement System boosted its holdings in ArcBest by 0.9% during the second quarter. Louisiana State Employees Retirement System now owns 11,800 shares of the transportation company’s stock worth $1,264,000 after buying an additional 100 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of ArcBest by 4.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,225 shares of the transportation company’s stock worth $350,000 after buying an additional 124 shares during the period. Finally, Johnson Investment Counsel Inc. increased its stake in shares of ArcBest by 6.5% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 2,095 shares of the transportation company’s stock valued at $224,000 after acquiring an additional 128 shares during the last quarter. 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.