GuruFocus - On August 12, 2024, Salvatore Abbate, a director at ArcBest Corp (NASDAQ:ARCB), purchased 1,000 shares of the company, as reported in a recent SEC Filing. Following this transaction, the insider now owns 3,650 shares of ArcBest Corp.
ArcBest Corp is a logistics company that provides freight transportation services and solutions. The company's activities include less-than-truckload carrier services and various logistics operations, including managed transportation and supply chain management.
The shares were acquired at a price of $103.93 per share, valuing the transaction at $103,930. This acquisition has increased the insider's stake in the company significantly, reflecting a potential confidence in the firm's future prospects.
Over the past year, the insider transaction history for ArcBest Corp shows a total of 2 insider buys and 6 insider sells. Salvatore Abbate has purchased a total of 1,000 shares and sold none in the same period.
The stock's current price gives ArcBest Corp a market cap of approximately $2.44 billion. The price-earnings ratio stands at 19.48, above both the industry median of 13.56 and the company's historical median.
According to the GF Value, the stock is currently Fairly Valued with a price-to-GF-Value ratio of 1.03. The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates.
This insider buy might interest investors as it could signal a positive outlook from an insider perspective, despite the stock trading at a higher price-earnings ratio compared to its peers.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
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