Insider Selling: ArcBest (NASDAQ:ARCB) VP Sells $115,501.95 in Stock

ArcBest Corporation (NASDAQ:ARCB) VP Jason Parks sold 855 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $135.09, for a total value of $115,501.95. Following the sale, the vice president directly owned 3,794 shares of the company’s stock, valued at approximately $512,531.46. This represents a 18.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

ArcBest Stock Performance

NASDAQ:ARCB opened at $128.95 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 186.88, a price-to-earnings-growth ratio of 0.40 and a beta of 1.55. The firm’s fifty day moving average price is $142.21 and its 200 day moving average price is $129.33. ArcBest Corporation has a 1-year low of $59.43 and a 1-year high of $176.69.

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

ArcBest Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. C M Bidwell & Associates Ltd. acquired a new position in shares of ArcBest during the 2nd quarter worth $74,000. Nykredit A S purchased a new position in ArcBest during the 2nd quarter valued at about $75,000. Hantz Financial Services Inc. grew its position 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 purchasing an additional 934 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in ArcBest during the second quarter worth $92,000. Finally, PNC Financial Services Group Inc. increased its position in ArcBest by 8.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,775 shares of the transportation company’s stock worth $175,000 after purchasing an additional 134 shares in the last quarter. 99.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. UBS Group boosted their target price on ArcBest from $145.00 to $154.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Truist Financial raised their price target on ArcBest from $145.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. TD Cowen decreased their price target on ArcBest from $175.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, July 30th. Citizens Jmp initiated coverage on ArcBest in a report on Wednesday, July 15th. They set a “market outperform” rating and a $180.00 price objective on the stock. Finally, Zacks Research lowered ArcBest from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $154.23.

About ArcBest

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.