Partners Group Holding AG Boosts Stock Holdings in ArcBest Corporation $ARCB

Key Points

• Partners Group Holding AG increased its stake in ArcBest Corporation by 52% in Q1, owning a total of 119,679 shares valued at approximately $8.4 million.
• ArcBest is facing mixed analyst ratings, with a consensus rating of "Hold" and a target price of $90.00, while recent earnings fell short of expectations with a reported $1.36 EPS against a forecasted $1.48.
• The company announced a quarterly dividend of $0.12 per share, with an annualized yield of 0.7%, set to be paid on August 22nd to shareholders of record on August 8th.

Partners Group Holding AG lifted its stake in ArcBest Corporation (NASDAQ:ARCB - Free Report) by 52.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 119,679 shares of the transportation company's stock after acquiring an additional 40,966 shares during the quarter. Partners Group Holding AG owned approximately 0.52% of ArcBest worth $8,447,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the company. Signaturefd LLC boosted its position in shares of ArcBest by 477.6% during the 1st quarter. Signaturefd LLC now owns 387 shares of the transportation company's stock worth $27,000 after purchasing an additional 320 shares in the last quarter. CWM LLC boosted its holdings in ArcBest by 338.8% in the 1st quarter. CWM LLC now owns 452 shares of the transportation company's stock worth $32,000 after buying an additional 349 shares during the period. Curat Global LLC bought a new position in ArcBest in the 1st quarter valued at $82,000. GAMMA Investing LLC boosted its holdings in ArcBest by 185.3% in the 1st quarter. GAMMA Investing LLC now owns 1,435 shares of the transportation company's stock valued at $101,000 after purchasing an additional 932 shares during the period. Finally, Headlands Technologies LLC bought a new position in ArcBest in the 1st quarter valued at $143,000. Institutional investors own 99.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Morgan Stanley cut their price target on shares of ArcBest from $140.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. UBS Group lowered their price objective on shares of ArcBest from $84.00 to $73.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Bank of America upgraded shares of ArcBest from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $63.00 to $74.00 in a research report on Tuesday, June 10th. TD Cowen lowered their price objective on shares of ArcBest from $80.00 to $72.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Finally, Zacks Research upgraded shares of ArcBest to a "strong sell" rating in a research report on Monday, August 11th. Six equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $90.00.

ArcBest Trading Up 1.3%

Shares of NASDAQ ARCB traded up $0.9190 during midday trading on Thursday, hitting $71.7290. 101,621 shares of the company traded hands, compared to its average volume of 372,940. ArcBest Corporation has a 12-month low of $55.19 and a 12-month high of $123.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a 50-day moving average price of $76.14 and a 200 day moving average price of $72.99. The firm has a market cap of $1.63 billion, a P/E ratio of 10.67, a P/E/G ratio of 0.84 and a beta of 1.69.

ArcBest (NASDAQ:ARCB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.12). The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. ArcBest had a return on equity of 8.67% and a net margin of 3.90%.The company's revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.98 EPS. As a group, analysts expect that ArcBest Corporation will post 7 earnings per share for the current year.

ArcBest Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 8th. ArcBest's dividend payout ratio is currently 7.14%.

ArcBest Company Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.