Arc Logistic Partners LP (NYSE:ARCX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, October 17th.
According to Zacks, “Arc Logistics Partners LP is principally engaged in the terminalling, storage, throughput and transloading of crude oil and petroleum products. It owns, operates, develops and acquires a portfolio of complementary energy logistics assets. Arc Logistics Partners LP is based in New York. “
A number of other brokerages have also commented on ARCX. SunTrust Banks, Inc. lowered Arc Logistic Partners from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $15.00 to $16.50 in a research report on Wednesday, August 30th. Stifel Nicolaus lowered Arc Logistic Partners from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $18.00 to $16.50 in a research report on Wednesday, August 30th. Finally, BidaskClub lowered Arc Logistic Partners from a “buy” rating to a “hold” rating in a research report on Thursday, September 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Arc Logistic Partners presently has a consensus rating of “Hold” and an average price target of $18.33.
Arc Logistic Partners (ARCX) traded up $0.05 during midday trading on Tuesday, hitting $16.80. 103,451 shares of the stock were exchanged, 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 price-to-earnings-growth ratio of 12.32 and a beta of 0.80.
Arc Logistic Partners (NYSE:ARCX) last announced its quarterly earnings results on Tuesday, August 8th. The pipeline company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). Arc Logistic Partners had a net margin of 13.28% and a return on equity of 4.10%. The company had revenue of $26.59 million for the quarter, compared to analyst estimates of $26.71 million. analysts anticipate that Arc Logistic Partners will post 0.68 EPS for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its holdings in shares of Arc Logistic Partners by 29.7% during the 2nd quarter. D.A. Davidson & CO. now owns 9,604 shares of the pipeline company’s stock valued at $145,000 after purchasing an additional 2,200 shares in the last quarter. Mariner Wealth Advisors LLC lifted its holdings in shares of Arc Logistic Partners by 3.0% during the 2nd quarter. Mariner Wealth Advisors LLC now owns 14,765 shares of the pipeline company’s stock valued at $224,000 after purchasing an additional 434 shares in the last quarter. KCG Holdings Inc. bought a new position in shares of Arc Logistic Partners during the 1st quarter valued at about $464,000. Dupont Capital Management Corp bought a new stake in Arc Logistic Partners in the 3rd quarter valued at approximately $1,022,000. Finally, Renaissance Technologies LLC lifted its stake in Arc Logistic Partners by 289.9% in the 1st quarter. Renaissance Technologies LLC now owns 104,441 shares of the pipeline company’s stock valued at $1,488,000 after acquiring an additional 77,656 shares in the last quarter. Institutional investors and hedge funds own 42.92% of the company’s stock.
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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