Partners Group Holding AG Purchases 40,966 Shares of ArcBest Corporation (NASDAQ: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 increased its position in shares of ArcBest Corporation (NASDAQ:ARCB - Free Report) by 52.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,679 shares of the transportation company's stock after purchasing an additional 40,966 shares during the quarter. Partners Group Holding AG owned 0.52% of ArcBest worth $8,447,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ARCB. Nuveen LLC bought a new stake in ArcBest during the first quarter worth about $18,460,000. Westwood Holdings Group Inc. lifted its holdings in shares of ArcBest by 36.7% in the first quarter. Westwood Holdings Group Inc. now owns 869,267 shares of the transportation company's stock worth $61,353,000 after acquiring an additional 233,409 shares during the last quarter. Federated Hermes Inc. bought a new position in shares of ArcBest in the first quarter worth about $9,202,000. GAMMA Investing LLC lifted its holdings in shares of ArcBest by 20,035.6% in the first quarter. GAMMA Investing LLC now owns 101,282 shares of the transportation company's stock worth $71,480,000 after acquiring an additional 100,779 shares during the last quarter. Finally, Eisler Capital Management Ltd. bought a new position in shares of ArcBest in the fourth quarter worth about $7,695,000. Institutional investors own 99.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of ArcBest from $75.00 to $89.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Jefferies Financial Group reissued a "buy" rating and issued a $85.00 target price (up previously from $75.00) on shares of ArcBest in a report on Tuesday, June 10th. Stifel Nicolaus dropped their target price on shares of ArcBest from $93.00 to $81.00 and set a "buy" rating for the company in a report on Thursday, July 31st. The Goldman Sachs Group raised shares of ArcBest from a "neutral" rating to a "buy" rating and increased their target price for the stock from $84.00 to $101.00 in a report on Monday, June 2nd. Finally, TD Cowen dropped their target price on shares of ArcBest from $80.00 to $72.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, ArcBest has a consensus rating of "Hold" and a consensus target price of $90.00.

ArcBest Stock Performance

ArcBest stock opened at $71.46 on Friday. The company has a market capitalization of $1.62 billion, a P/E ratio of 10.63, a P/E/G ratio of 0.85 and a beta of 1.69. The business has a 50 day moving average of $75.98 and a 200-day moving average of $73.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.96. ArcBest Corporation has a 1 year low of $55.19 and a 1 year high of $123.25.

ArcBest (NASDAQ:ARCB - Get Free Report) last released its earnings results on Wednesday, July 30th. The transportation company reported $1.36 earnings per share for the quarter, missing analysts' consensus estimates of $1.48 by ($0.12). The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. ArcBest had a net margin of 3.90% and a return on equity of 8.67%. The business's revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.98 EPS. On average, equities research analysts predict that ArcBest Corporation will post 7 earnings per share for the current year.

ArcBest Dividend Announcement

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

ArcBest 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.

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