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

Key Points

• ArcBest VP Jason Parks sold 855 shares at an average price of $135.09, generating approximately $115,502. Following the transaction, he retained 3,794 shares, an 18.39% reduction in his holdings.
• ArcBest reported quarterly earnings of $2.38 per share, beating estimates of $2.26, while revenue rose 15.9% year over year to $1.18 billion.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $154.23, compared with the stock’s trading price of about $135.75; institutional investors own 99.27% of the shares.

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

ArcBest Trading Up 0.0%

Shares of NASDAQ ARCB traded up $0.06 during midday trading on Tuesday, reaching $135.75. 121,520 shares of the stock were exchanged, compared to its average volume of 354,723. The company has a 50 day simple moving average of $143.17 and a 200 day simple moving average of $128.68. The stock has a market capitalization of $3.03 billion, a P/E ratio of 196.75, a PEG ratio of 0.41 and a beta of 1.55. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.97. ArcBest Corporation has a twelve month low of $59.43 and a twelve month high of $176.69.

ArcBest (NASDAQ:ARCB - Get Free Report) last released 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. The firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.17 billion. ArcBest had a return on equity of 7.92% and a net margin of 0.39%.The firm's quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 earnings per share. As a group, equities analysts expect that ArcBest Corporation will post 6.95 earnings per share for the current year.

ArcBest Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. 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 price objective on the stock. JPMorgan Chase & Co. lifted their price target on shares of ArcBest from $117.00 to $147.00 and gave the company a "neutral" rating in a research report on Monday, June 8th. Citigroup restated a "market outperform" rating on shares of ArcBest in a report on Wednesday, August 26th. Truist Financial increased their price objective 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. Finally, Bank of America lifted their target price on shares of ArcBest from $138.00 to $160.00 and gave the company a "neutral" rating in a report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, ArcBest presently has a consensus rating of "Moderate Buy" and an average price target of $154.23.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. C M Bidwell & Associates Ltd. acquired a new stake in shares of ArcBest in the second quarter valued at approximately $74,000. Nykredit A S acquired a new stake in ArcBest during the 2nd quarter worth $75,000. Northwestern Mutual Wealth Management Co. acquired a new stake in ArcBest during the 2nd quarter worth $92,000. Hantz Financial Services Inc. grew its position in ArcBest by 507.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,118 shares of the transportation company's stock worth $83,000 after purchasing an additional 934 shares during the last quarter. Finally, Pinnacle Holdings LLC purchased a new position in ArcBest during the 2nd quarter worth $246,000. 99.27% of the stock is owned by institutional investors and hedge funds.

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.

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