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

ArcBest Corporation (NASDAQ:ARCB) VP Jason Parks sold 855 shares of the company’s stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ArcBest Stock Performance

ArcBest stock traded up $0.06 during mid-day trading on Tuesday, reaching $135.75. 121,520 shares of the company were exchanged, compared to its average volume of 354,723. The firm’s 50-day simple moving average is $143.17 and its two-hundred day simple moving average is $128.68. ArcBest Corporation has a twelve month low of $59.43 and a twelve month high of $176.69. The firm has a market cap of $3.03 billion, a PE ratio of 196.75, a price-to-earnings-growth 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 (NASDAQ:ARCB) last released its earnings results on Wednesday, July 29th. The transportation company reported $2.38 earnings per share (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 previous year, the company posted $1.36 earnings per share. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts predict that ArcBest Corporation will post 6.95 earnings per share for the current fiscal year.

ArcBest Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were paid a $0.12 dividend. 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 payout ratio is currently 69.57%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of ArcBest in the 2nd quarter worth about $503,476,000. Dimensional Fund Advisors LP increased its holdings in ArcBest by 3.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,397,287 shares of the transportation company’s stock valued at $137,429,000 after acquiring an additional 47,848 shares in the last quarter. Maple Rock Capital Partners Inc. raised its position in ArcBest by 32.5% during the second quarter. Maple Rock Capital Partners Inc. now owns 535,746 shares of the transportation company’s stock worth $76,901,000 after acquiring an additional 131,400 shares during the last quarter. Encompass Capital Advisors LLC acquired a new position in ArcBest during the fourth quarter worth about $20,402,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of ArcBest in the second quarter valued at about $27,281,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of ArcBest from $130.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Friday, June 5th. Stifel Nicolaus boosted their price target on shares of ArcBest from $134.00 to $176.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Citizens Jmp began coverage on ArcBest in a report on Wednesday, July 15th. They issued a “market outperform” rating and a $180.00 target price for the company. Morgan Stanley boosted their target price on shares of ArcBest from $150.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Finally, Zacks Research cut shares of ArcBest from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 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’s stock. Based on data from MarketBeat.com, the stock has a consensus 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.