ArcBest (NASDAQ:ARCB) Shares Break Above Fifty Day Moving Average – Should You Sell?

ArcBest Corporation (NASDAQ:ARCB) crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $131.45 and traded as high as $135.18. ArcBest shares last traded at $134.48, with a volume of 367,740 shares.

Analyst Upgrades and Downgrades

ARCB has been the subject of a number of recent analyst reports. Citizens Jmp assumed coverage on shares of ArcBest in a research report on Wednesday, July 15th. They issued a “market outperform” rating and a $180.00 price target for the company. TD Cowen reduced their price objective on shares of ArcBest from $175.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, July 30th. Wall Street Zen upgraded shares of ArcBest from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Zacks Research cut shares of ArcBest from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Finally, Citigroup reiterated a “cautious” rating on shares of ArcBest in a research note on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $153.15.

ArcBest Price Performance

The firm has a 50 day moving average of $131.45 and a 200-day moving average of $124.69. The company has a market cap of $3.01 billion, a P/E ratio of 194.90, a P/E/G ratio of 0.40 and a beta of 1.71. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10.

ArcBest Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, November 13th. ArcBest’s dividend payout ratio (DPR) is 69.57%.

Insider Buying and Selling

In other news, VP Jason T. Parks sold 855 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $512,531.46. The trade was a 18.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Judy R. Mcreynolds sold 2,857 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $138.98, for a total transaction of $397,065.86. Following the transaction, the director owned 50,048 shares of the company’s stock, valued at approximately $6,955,671.04. This represents a 5.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 5,155 shares of company stock valued at $713,578. Insiders own 0.98% of the company’s stock.

Institutional Trading of ArcBest

Several hedge funds have recently bought and sold shares of ARCB. BlackRock Inc. bought a new position in shares of ArcBest during the 2nd quarter valued at about $503,476,000. Bank of New York Mellon Corp purchased a new position in shares of ArcBest during the second quarter valued at about $27,281,000. Empowered Funds LLC purchased a new position in shares of ArcBest during the second quarter valued at about $20,787,000. Maple Rock Capital Partners Inc. increased its holdings in shares of ArcBest by 32.5% in the second quarter. Maple Rock Capital Partners Inc. now owns 535,746 shares of the transportation company’s stock worth $76,901,000 after purchasing an additional 131,400 shares during the last quarter. Finally, Heartland Advisors Inc. bought a new stake in shares of ArcBest in the second quarter worth about $15,789,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

About ArcBest

ArcBest Corporation (NASDAQ: ARCB) is a multibillion-dollar logistics company headquartered in Fort Smith, Arkansas. The company provides freight transportation and supply chain solutions through a combination of asset-based and asset-light operations, serving businesses across North America and supporting select international shipping needs.

Its asset-based business is led by ABF Freight, a less-than-truckload carrier that transports palletized and industrial freight. ArcBest also offers expedited transportation, truckload and brokerage services, intermodal transportation, managed transportation, warehouse and distribution support, and supply chain consulting.