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

ArcBest Co. (NASDAQ:ARCB - Get Free Report) CFO John Matthew Beasley acquired 700 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $74.89 per share, for a total transaction of $52,423.00. Following the transaction, 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 document filed with the SEC, which can be accessed through the SEC website.

ArcBest Trading Up 3.4 %

ARCB stock traded up $2.49 during midday trading on Monday, hitting $75.84. The company had a trading volume of 395,975 shares, compared to its average volume of 284,111. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10. ArcBest Co. has a 52 week low of $70.96 and a 52 week high of $153.61. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 1.70 and a beta of 1.54. The stock's 50 day moving average price is $90.03 and its 200 day moving average price is $99.94.

ArcBest (NASDAQ:ARCB - Get Free Report) last announced its quarterly 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 net margin of 4.16% and a return on equity of 11.79%. During the same quarter in the previous year, the company posted $2.47 earnings per share. As a group, equities research analysts expect that ArcBest Co. will post 7 earnings per share for the current fiscal year.

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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 given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Tuesday, February 11th. ArcBest's payout ratio is 6.55%.

Institutional Investors Weigh In On ArcBest

Several institutional investors and hedge funds have recently bought and sold shares of the business. OneDigital Investment Advisors LLC increased its stake in shares of ArcBest by 3.5% during the third quarter. OneDigital Investment Advisors LLC now owns 2,509 shares of the transportation company's stock valued at $272,000 after buying an additional 86 shares during the period. Avior Wealth Management LLC boosted its holdings 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 acquiring an additional 95 shares in the last quarter. Arizona State Retirement System increased its position in ArcBest by 1.6% during the 4th quarter. Arizona State Retirement System now owns 6,856 shares of the transportation company's stock valued at $640,000 after purchasing an additional 108 shares during the period. Summit Investment Advisors Inc. raised its holdings in ArcBest by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,463 shares of the transportation company's stock worth $230,000 after purchasing an additional 157 shares in the last quarter. Finally, Stephens Inc. AR lifted its position in shares of ArcBest by 2.1% in the 4th quarter. Stephens Inc. AR now owns 8,128 shares of the transportation company's stock worth $758,000 after purchasing an additional 170 shares during the period. Hedge funds and other institutional investors own 99.27% of the company's stock.

Analysts Set New Price Targets

ARCB has been the topic of several research analyst reports. UBS Group decreased their price objective on shares of ArcBest from $110.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday, February 3rd. Truist Financial initiated coverage on shares of ArcBest in a report on Thursday. They issued a "buy" rating and a $93.00 price target on the stock. Bank of America dropped their price objective on shares of ArcBest from $100.00 to $73.00 and set an "underperform" rating for the company in a report on Wednesday, March 12th. Citigroup reduced their target price on ArcBest from $103.00 to $83.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Finally, Stephens reaffirmed an "overweight" rating and set a $116.00 price target on shares of ArcBest in a research note on Tuesday, March 11th. One equities 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $108.33.

ArcBest Company Profile

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.