Jason Parks Sells 855 Shares of ArcBest (NASDAQ:ARCB) Stock

ArcBest Corporation (NASDAQ:ARCB) VP Jason Parks sold 855 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $135.09, for a total value of $115,501.95. Following the transaction, the vice president owned 3,794 shares in the company, valued at approximately $512,531.46. This trade represents a 18.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ArcBest Price Performance

Shares of NASDAQ:ARCB opened at $129.97 on Thursday. The stock has a market capitalization of $2.90 billion, a P/E ratio of 188.36, a P/E/G ratio of 0.41 and a beta of 1.55. The business has a 50-day moving average of $142.64 and a two-hundred day moving average of $129.15. ArcBest Corporation has a fifty-two week low of $59.43 and a fifty-two week high of $176.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.97 and a quick ratio of 0.97.

ArcBest (NASDAQ:ARCB) last issued its quarterly earnings data on Wednesday, July 29th. The transportation company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.12. ArcBest had a return on equity of 7.92% and a net margin of 0.39%.The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the firm posted $1.36 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities research analysts predict that ArcBest Corporation will post 6.98 EPS for the current fiscal year.

ArcBest Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.4%. ArcBest’s dividend payout ratio (DPR) is currently 69.57%.

Hedge Funds Weigh In On ArcBest

Large investors have recently bought and sold shares of the stock. C M Bidwell & Associates Ltd. acquired a new stake in ArcBest in the 2nd quarter worth $74,000. Nykredit A S acquired a new position in shares of ArcBest during the second quarter valued at about $75,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of ArcBest in the second quarter valued at about $92,000. Hantz Financial Services Inc. lifted its stake in shares of ArcBest by 507.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company’s stock valued at $83,000 after buying an additional 934 shares during the period. Finally, Pinnacle Holdings LLC acquired a new stake in ArcBest during the second quarter worth about $246,000. 99.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ARCB has been the subject of several recent analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of ArcBest in a report on Wednesday, August 26th. Citizens Jmp assumed coverage on shares of ArcBest in a report on Wednesday, July 15th. They issued a “market outperform” rating and a $180.00 target price on the stock. Truist Financial boosted their target price on shares of ArcBest from $145.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Weiss Ratings restated a “hold (c-)” rating on shares of ArcBest in a report on Tuesday, August 25th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $172.00 price target on shares of ArcBest in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, ArcBest presently has an average rating of “Moderate Buy” and an average price target of $154.23.

ArcBest Company Profile

ArcBest Corporation (NASDAQ: ARCB) is a North American logistics company headquartered in Fort Smith, Arkansas. Through its subsidiaries and service offerings, the company provides freight transportation, supply chain management and logistics solutions for businesses of various sizes.

Its asset-based operations are primarily conducted through ABF Freight, a less-than-truckload carrier that transports palletized and other freight across the United States, Canada and Mexico. ABF Freight offers regional, interregional and long-haul services, as well as time-critical, expedited, guaranteed and specialized transportation solutions.

ArcBest also provides asset-light logistics services, including truckload, expedited, final-mile, intermodal, international and managed transportation solutions.