ARC Document Solutions (NYSE:ARC) hit a new 52-week high and low during trading on Wednesday . The company traded as low as $1.97 and last traded at $1.97, with a volume of 2642 shares changing hands. The stock had previously closed at $2.00.
Separately, Zacks Investment Research downgraded shares of ARC Document Solutions from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $4.00.
The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.27 and a current ratio of 1.57. The stock has a market cap of $92.33 million, a P/E ratio of 13.20 and a beta of 2.07.
ARC Document Solutions (NYSE:ARC) last issued its quarterly earnings results on Tuesday, May 1st. The business services provider reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.01). The business had revenue of $97.71 million for the quarter, compared to analyst estimates of $96.19 million. ARC Document Solutions had a positive return on equity of 3.68% and a negative net margin of 5.76%. analysts predict that ARC Document Solutions will post 0.12 EPS for the current year.
In other news, insider Rahul K. Roy sold 10,500 shares of the firm’s stock in a transaction on Thursday, March 22nd. The shares were sold at an average price of $2.45, for a total value of $25,725.00. Following the completion of the sale, the insider now owns 137,753 shares in the company, valued at approximately $337,494.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director De La Mesa Manuel J. Perez bought 20,000 shares of ARC Document Solutions stock in a transaction dated Tuesday, March 13th. The stock was purchased at an average price of $2.35 per share, with a total value of $47,000.00. Following the purchase, the director now directly owns 60,378 shares in the company, valued at approximately $141,888.30. The disclosure for this purchase can be found here. 15.57% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of ARC Document Solutions by 6.4% in the fourth quarter. BlackRock Inc. now owns 5,478,276 shares of the business services provider’s stock valued at $13,969,000 after purchasing an additional 327,779 shares during the period. Punch & Associates Investment Management Inc. lifted its stake in shares of ARC Document Solutions by 12.8% in the first quarter. Punch & Associates Investment Management Inc. now owns 2,129,569 shares of the business services provider’s stock valued at $4,685,000 after purchasing an additional 241,409 shares during the period. Millennium Management LLC increased its holdings in ARC Document Solutions by 407.0% during the 1st quarter. Millennium Management LLC now owns 254,885 shares of the business services provider’s stock valued at $561,000 after acquiring an additional 204,610 shares in the last quarter. Bailard Inc. purchased a new position in ARC Document Solutions during the 1st quarter valued at about $430,000. Finally, Renaissance Technologies LLC increased its holdings in ARC Document Solutions by 5.8% during the 4th quarter. Renaissance Technologies LLC now owns 2,861,800 shares of the business services provider’s stock valued at $7,298,000 after acquiring an additional 156,400 shares in the last quarter. Institutional investors own 69.14% of the company’s stock.
About ARC Document Solutions
ARC Document Solutions, Inc, a reprographics company, provides document solutions worldwide. It offers managed print services, an onsite service that places, manages, and optimizes print and imaging equipment in customers' offices, job sites, and other facilities; and operates 175 offsite service centers, which offers managed print service customers with the flexibility and overflow capacity during peak workloads.
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