Arc Logistic Partners LP (NYSE:ARCX) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, October 18th.
ARCX has been the subject of a number of other research reports. Zacks Investment Research raised Arc Logistic Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Stifel Nicolaus reissued a “hold” rating and issued a $16.50 target price on shares of Arc Logistic Partners in a research note on Friday, October 6th. Finally, SunTrust Banks, Inc. lowered Arc Logistic Partners from a “buy” rating to a “hold” rating and boosted their target price for the company from $15.00 to $16.50 in a research note on Wednesday, August 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $18.33.
Arc Logistic Partners (NYSE ARCX) traded up $0.04 during trading hours on Wednesday, reaching $16.79. The company’s stock had a trading volume of 190,696 shares, compared to its average volume of 125,263. The company has a quick ratio of 1.02, a current ratio of 1.05 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $327.39, a PE ratio of 21.75, a P/E/G ratio of 12.32 and a beta of 0.80.
Arc Logistic Partners (NYSE:ARCX) last posted its quarterly earnings data on Tuesday, August 8th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.03). The business had revenue of $26.59 million for the quarter, compared to the consensus estimate of $26.71 million. Arc Logistic Partners had a net margin of 13.28% and a return on equity of 4.10%. equities analysts forecast that Arc Logistic Partners will post 0.68 earnings per share for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its holdings in shares of Arc Logistic Partners by 32.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 908,661 shares of the pipeline company’s stock valued at $12,949,000 after buying an additional 221,662 shares during the period. Renaissance Technologies LLC increased its stake in shares of Arc Logistic Partners by 289.9% in the 1st quarter. Renaissance Technologies LLC now owns 104,441 shares of the pipeline company’s stock worth $1,488,000 after purchasing an additional 77,656 shares in the last quarter. Bank of America Corp DE increased its stake in Arc Logistic Partners by 49.9% in the 1st quarter. Bank of America Corp DE now owns 407,276 shares of the pipeline company’s stock worth $5,804,000 after buying an additional 135,650 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in Arc Logistic Partners in the 3rd quarter worth $3,024,000. Finally, Mizuho Securities USA LLC purchased a new stake in Arc Logistic Partners in the 3rd quarter worth $2,429,000. 42.92% of the stock is currently owned by institutional investors and hedge funds.
About Arc Logistic Partners
Arc Logistics Partners LP owns, operates, develops and acquires a portfolio of energy logistics assets. The Company is engaged in the terminaling, storage, throughput and transloading of crude oil and petroleum products. The Company is focused on growing its business through the optimization, organic development and acquisition of terminaling, storage, rail, pipeline and other energy logistics assets.
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