Arc Logistic Partners LP (NYSE:ARCX) has received an average recommendation of “Hold” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $20.00.
ARCX has been the topic of a number of recent research reports. Zacks Investment Research cut Arc Logistic Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th. ValuEngine cut Arc Logistic Partners from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Stifel Nicolaus raised Arc Logistic Partners from a “hold” rating to a “buy” rating and increased their price objective for the company from $13.00 to $18.00 in a research report on Wednesday, August 9th. Finally, BidaskClub cut Arc Logistic Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st.
A number of hedge funds and other institutional investors have recently made changes to their positions in ARCX. Goldman Sachs Group Inc. boosted its position in shares of Arc Logistic Partners by 32.3% in the first quarter. Goldman Sachs Group Inc. now owns 908,661 shares of the pipeline company’s stock valued at $12,949,000 after buying an additional 221,662 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Arc Logistic Partners by 49.9% in the first quarter. Bank of America Corp DE now owns 407,276 shares of the pipeline company’s stock valued at $5,804,000 after buying an additional 135,650 shares during the last quarter. KCG Holdings Inc. purchased a new position in shares of Arc Logistic Partners during the first quarter valued at about $464,000. Mariner Wealth Advisors LLC boosted its position in shares of Arc Logistic Partners by 3.0% in the second quarter. Mariner Wealth Advisors LLC now owns 14,765 shares of the pipeline company’s stock valued at $224,000 after buying an additional 434 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its position in shares of Arc Logistic Partners by 29.7% in the second quarter. D.A. Davidson & CO. now owns 9,604 shares of the pipeline company’s stock valued at $145,000 after buying an additional 2,200 shares during the last quarter. 43.00% of the stock is currently owned by institutional investors and hedge funds.
Arc Logistic Partners (ARCX) traded down 0.07% during midday trading on Friday, hitting $14.14. The stock had a trading volume of 31,574 shares. The firm has a 50 day moving average of $15.03 and a 200 day moving average of $14.76. Arc Logistic Partners has a 52 week low of $12.86 and a 52 week high of $17.40. The firm has a market cap of $276.37 million, a price-to-earnings ratio of 23.26 and a beta of 0.83.
Arc Logistic Partners (NYSE:ARCX) last released its earnings results on Tuesday, August 8th. The pipeline company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by $0.03. Arc Logistic Partners had a return on equity of 4.10% and a net margin of 13.28%. The company had revenue of $26.59 million during the quarter, compared to analysts’ expectations of $26.71 million. Equities research analysts predict that Arc Logistic Partners will post $0.77 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 8th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, August 4th. This represents a $1.76 annualized dividend and a dividend yield of 12.45%. Arc Logistic Partners’s dividend payout ratio (DPR) is presently 247.89%.
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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