ArcBest (NASDAQ:ARCB) VP Jason Parks Sells 855 Shares

by · The Cerbat Gem

ArcBest Corporation (NASDAQ:ARCBGet Free Report) VP Jason Parks sold 855 shares of the 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 completion of the transaction, the vice president directly owned 3,794 shares in the company, valued at $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 SEC, which is available at this hyperlink.

ArcBest Trading Down 0.7%

ArcBest stock opened at $134.80 on Wednesday. ArcBest Corporation has a 52 week low of $59.43 and a 52 week high of $176.69. The stock has a 50-day moving average price of $142.96 and a 200 day moving average price of $128.95. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 195.36, a price-to-earnings-growth ratio of 0.42 and a beta of 1.55.

ArcBest (NASDAQ:ARCBGet Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The transportation company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.26 by $0.12. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. ArcBest had a net margin of 0.39% and a return on equity of 7.92%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.36 EPS. Sell-side analysts anticipate that ArcBest Corporation will post 6.98 EPS for the current year.

ArcBest Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ARCB. C M Bidwell & Associates Ltd. acquired a new stake in ArcBest in the 2nd quarter valued at $74,000. Nykredit A S acquired a new position in ArcBest during the second quarter worth $75,000. Northwestern Mutual Wealth Management Co. acquired a new position in ArcBest during the second quarter worth $92,000. Hantz Financial Services Inc. lifted its holdings in ArcBest by 507.6% during 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 in the last quarter. Finally, Pinnacle Holdings LLC purchased a new position in ArcBest during the second quarter valued at $246,000. Institutional investors and hedge funds own 99.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ARCB shares. Morgan Stanley increased their price target on ArcBest from $150.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. JPMorgan Chase & Co. boosted their price objective on ArcBest from $117.00 to $147.00 and gave the company a “neutral” rating in a report on Monday, June 8th. UBS Group upped their target price on ArcBest from $145.00 to $154.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Truist Financial raised their target price on ArcBest from $145.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Finally, Citizens Jmp began coverage on ArcBest in a research report on Wednesday, July 15th. They set a “market outperform” rating and a $180.00 price target for the company. 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, the company has an average rating of “Moderate Buy” and a consensus price target of $154.23.

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About ArcBest

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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.

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