Insider Selling: ArcBest Corp VP Sells 4,000 Shares of Stock (ARCB)
ArcBest Corp (NASDAQ:ARCB) VP David R. Cobb unloaded 4,000 shares of ArcBest Corp stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $43.00, for a total transaction of $172,000.00. Following the sale, the vice president now directly owns 43,762 shares in the company, valued at approximately $1,881,766. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Separately, analysts at Morgan Stanley initiated coverage on shares of ArcBest Corp in a research note on Monday, May 5th. They set an “equal weight” rating on the stock. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $34.61.
Shares of ArcBest Corp (NASDAQ:ARCB) traded down 0.33% during mid-day trading on Monday, hitting $42.63. 243,505 shares of the company’s stock traded hands. ArcBest Corp has a 52-week low of $17.68 and a 52-week high of $44.63. The stock’s 50-day moving average is $39.69 and its 200-day moving average is $35.3. The company has a market cap of $1.108 billion and a P/E ratio of 47.31.
ArcBest Corp (NASDAQ:ARCB) last announced its earnings results on Monday, May 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by $0.05. On average, analysts predict that ArcBest Corp will post $1.95 earnings per share for the current fiscal year.
ArcBest Corp., formerly Arkansas Best Corporation, is a provider of freight transportation services and solutions.
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