Arc Logistic Partners LP (NYSE:ARCX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and 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. “
ARCX has been the subject of a number of other research reports. BidaskClub lowered shares of Arc Logistic Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Stifel Nicolaus raised shares of Arc Logistic Partners from a “hold” rating to a “buy” rating and boosted their price objective for the company from $13.00 to $18.00 in a research report on Wednesday, August 9th. Finally, SunTrust Banks, Inc. lowered shares of Arc Logistic Partners from a “buy” rating to a “hold” rating and boosted their price objective for the company from $15.00 to $16.50 in a research report on Wednesday, August 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.33.
Arc Logistic Partners (NYSE:ARCX) opened at 16.57 on Tuesday. The firm’s 50 day moving average price is $16.66 and its 200 day moving average price is $15.28. Arc Logistic Partners has a 12 month low of $12.86 and a 12 month high of $17.40. The stock has a market cap of $323.86 million, a price-to-earnings ratio of 27.25 and a beta of 0.81.
Arc Logistic Partners (NYSE:ARCX) last announced its quarterly earnings results on Tuesday, August 8th. The pipeline company reported $0.15 earnings per share (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 business had revenue of $26.59 million during the quarter, compared to analysts’ expectations of $26.71 million. On average, equities research analysts predict that Arc Logistic Partners will post $0.68 EPS for the current fiscal year.
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A number of hedge funds have recently modified their holdings of the stock. Mariner Wealth Advisors LLC increased its position in Arc Logistic Partners by 3.0% during the second quarter. Mariner Wealth Advisors LLC now owns 14,765 shares of the pipeline company’s stock worth $224,000 after purchasing an additional 434 shares during the last quarter. D.A. Davidson & CO. grew its stake in Arc Logistic Partners by 29.7% during the second quarter. D.A. Davidson & CO. now owns 9,604 shares of the pipeline company’s stock worth $145,000 after buying an additional 2,200 shares during the period. KCG Holdings Inc. purchased a new stake in Arc Logistic Partners during the first quarter worth approximately $464,000. Renaissance Technologies LLC grew its stake in Arc Logistic Partners by 289.9% during the first quarter. Renaissance Technologies LLC now owns 104,441 shares of the pipeline company’s stock worth $1,488,000 after buying an additional 77,656 shares during the period. Finally, Bank of America Corp DE grew its stake in Arc Logistic Partners by 49.9% during the first 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 during the period. 40.98% of the stock is owned by hedge funds and other institutional investors.
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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