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

Shares of ArcBest Corporation (NASDAQ:ARCB) passed 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 Ratings Changes

ARCB has been the topic of a number of research analyst reports. Stephens raised ArcBest to a “strong-buy” rating in a report on Wednesday, July 8th. Stifel Nicolaus dropped their price objective on ArcBest from $185.00 to $168.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Wall Street Zen upgraded shares of ArcBest from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Zacks Research downgraded shares of ArcBest from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Finally, Truist Financial reduced their price target on shares of ArcBest from $165.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, ArcBest has an average rating of “Moderate Buy” and a consensus price target of $153.15.

ArcBest Price Performance

The stock has a market capitalization of $3.01 billion, a P/E ratio of 194.90, a PEG ratio of 0.40 and a beta of 1.71. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a fifty day moving average price of $131.45 and a two-hundred day moving average price of $124.69.

ArcBest Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be given 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 is Friday, November 13th. ArcBest’s dividend payout ratio is 69.57%.

Insiders Place Their Bets

In other ArcBest news, VP Jason T. Parks sold 855 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $135.09, for a total value of $115,501.95. Following the transaction, the vice president directly owned 3,794 shares of the company’s stock, valued at approximately $512,531.46. This trade represents a 18.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Judy R. Mcreynolds sold 2,857 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $138.98, for a total transaction of $397,065.86. Following the sale, the director directly owned 50,048 shares of the company’s stock, valued at $6,955,671.04. The trade was a 5.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 5,155 shares of company stock valued at $713,578. 0.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On ArcBest

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in ArcBest in the second quarter worth about $503,476,000. Hsbc Holdings PLC bought a new position in shares of ArcBest in the second quarter worth about $743,000. WINTON GROUP Ltd purchased a new position in shares of ArcBest during the 2nd quarter valued at about $1,679,000. Quantinno Capital Management LP lifted its position in shares of ArcBest by 101.9% during the 1st quarter. Quantinno Capital Management LP now owns 20,827 shares of the transportation company’s stock valued at $2,049,000 after buying an additional 10,511 shares in the last quarter. Finally, Legal & General Group Plc purchased a new position in shares of ArcBest during the 2nd quarter valued at about $7,616,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.

ArcBest Company Profile

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.