Arc Logistic Partners LP (NYSE:ARCX)‘s stock had its “hold” rating reiterated by analysts at SunTrust Banks, Inc. in a research note issued on Friday. They presently have a $16.50 target price on the pipeline company’s stock. SunTrust Banks, Inc.’s price target would suggest a potential upside of 0.86% from the stock’s previous close.
Other equities research analysts have also issued reports about the company. BidaskClub upgraded Arc Logistic Partners from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Stifel Nicolaus upgraded Arc Logistic Partners from a “hold” rating to a “buy” rating and increased their price target for the stock from $13.00 to $18.00 in a research note on Wednesday, August 9th. Finally, Zacks Investment Research upgraded Arc Logistic Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $16.50.
Shares of Arc Logistic Partners (NYSE:ARCX) opened at $16.36 on Friday. The company has a quick ratio of 1.02, a current ratio of 0.96 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $319.68, a price-to-earnings ratio of 21.23, a PEG ratio of 13.26 and a beta of 0.80. Arc Logistic Partners has a 12 month low of $13.51 and a 12 month high of $17.40.
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A number of hedge funds have recently modified their holdings of ARCX. Goldman Sachs Group Inc. increased its stake in Arc Logistic Partners by 32.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 908,661 shares of the pipeline company’s stock worth $12,949,000 after buying an additional 221,662 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. Mizuho Securities USA LLC purchased a new stake in Arc Logistic Partners in the 3rd quarter worth $2,429,000. 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. Finally, Renaissance Technologies LLC increased 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 worth $1,488,000 after buying 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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