ArcBest Co. (NASDAQ:ARCB) CFO Purchases $52,423.00 in Stock

by · The Markets Daily

ArcBest Co. (NASDAQ:ARCB – Get Free Report) CFO John Matthew Beasley purchased 700 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was bought at an average cost of $74.89 per share, for a total transaction of $52,423.00. Following the acquisition, the chief financial officer now directly owns 8,142 shares of the company’s stock, valued at $609,754.38. This represents a 9.41 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

ArcBest Stock Up 0.2 %

Shares of ARCB traded up $0.15 during mid-day trading on Thursday, hitting $73.03. 410,844 shares of the company’s stock were exchanged, compared to its average volume of 285,167. The firm has a fifty day moving average of $90.82 and a two-hundred day moving average of $100.46. ArcBest Co. has a twelve month low of $70.96 and a twelve month high of $153.61. The company has a quick ratio of 1.04, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 9.96, a P/E/G ratio of 1.70 and a beta of 1.54.

ArcBest (NASDAQ:ARCB – Get Free Report) last announced its earnings results on Friday, January 31st. The transportation company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.22. ArcBest had a return on equity of 11.79% and a net margin of 4.16%. During the same quarter in the prior year, the business posted $2.47 earnings per share. On average, sell-side analysts forecast that ArcBest Co. will post 7 earnings per share for the current year.

ArcBest Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, February 11th. ArcBest’s dividend payout ratio (DPR) is presently 6.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ARCB. UBS Group cut their target price on ArcBest from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Bank of America dropped their price target on ArcBest from $100.00 to $73.00 and set an “underperform” rating on the stock in a research note on Wednesday. Morgan Stanley reduced their price objective on shares of ArcBest from $160.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Truist Financial started coverage on shares of ArcBest in a research report on Thursday. They issued a “buy” rating and a $93.00 target price on the stock. Finally, Citigroup decreased their price objective on shares of ArcBest from $103.00 to $83.00 and set a “neutral” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $109.75.

Get Our Latest Stock Analysis on ARCB

Institutional Investors Weigh In On ArcBest

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in ArcBest by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 2,771,123 shares of the transportation company’s stock worth $258,601,000 after acquiring an additional 20,665 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of ArcBest by 9.4% in the 4th quarter. Alliancebernstein L.P. now owns 2,571,917 shares of the transportation company’s stock worth $240,011,000 after purchasing an additional 220,325 shares during the last quarter. State Street Corp increased its position in shares of ArcBest by 1.9% during the 3rd quarter. State Street Corp now owns 957,410 shares of the transportation company’s stock worth $103,831,000 after purchasing an additional 17,542 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in ArcBest by 2.6% during the 4th quarter. Westwood Holdings Group Inc. now owns 635,858 shares of the transportation company’s stock valued at $59,338,000 after purchasing an additional 16,239 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in ArcBest by 16.3% in the fourth quarter. American Century Companies Inc. now owns 618,919 shares of the transportation company’s stock valued at $57,758,000 after buying an additional 86,867 shares in the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.

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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