Equities analysts expect Arc Logistic Partners LP (NYSE:ARCX) to announce $26.71 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Arc Logistic Partners’ earnings. The lowest sales estimate is $25.50 million and the highest is $27.55 million. The firm is scheduled to announce its next quarterly earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that Arc Logistic Partners will report full year sales of $26.71 million for the current fiscal year, with estimates ranging from $104.93 million to $109.33 million. For the next year, analysts forecast that the company will report sales of $112.11 million per share, with estimates ranging from $108.73 million to $114.01 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Arc Logistic Partners.
Several equities research analysts have recently weighed in on ARCX shares. Zacks Investment Research downgraded Arc Logistic Partners from a “hold” rating to a “sell” rating in a report on Tuesday, May 16th. ValuEngine downgraded Arc Logistic Partners from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Arc Logistic Partners has a consensus rating of “Hold” and a consensus target price of $17.75.
Shares of Arc Logistic Partners (NYSE:ARCX) traded down 0.64% during midday trading on Friday, hitting $15.43. The stock had a trading volume of 19,735 shares. Arc Logistic Partners has a 52-week low of $12.86 and a 52-week high of $17.40. The company’s 50 day moving average is $14.94 and its 200 day moving average is $14.97. The company has a market cap of $301.16 million, a PE ratio of 22.30 and a beta of 0.83.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Orinda Asset Management LLC purchased a new position in shares of Arc Logistic Partners during the first quarter valued at about $516,000. Raymond James Financial Services Advisors Inc. boosted its position in shares of Arc Logistic Partners by 3.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 41,600 shares of the pipeline company’s stock valued at $593,000 after buying an additional 1,300 shares during the period. BB&T Securities LLC purchased a new position in shares of Arc Logistic Partners during the first quarter valued at about $174,000. Renaissance Technologies LLC boosted its position in shares of Arc Logistic Partners by 289.9% in the first quarter. Renaissance Technologies LLC now owns 104,441 shares of the pipeline company’s stock valued at $1,488,000 after buying an additional 77,656 shares during the period. Finally, KCG Holdings Inc. purchased a new position in shares of Arc Logistic Partners during the first quarter valued at about $464,000. 43.25% of the stock is currently owned by 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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