Arc Logistic Partners LP (ARCX) Downgraded by Zacks Investment Research to “Hold”
Arc Logistic Partners LP (NYSE:ARCX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
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. “
Several other research analysts also recently commented on the stock. Stifel Nicolaus downgraded shares of Arc Logistic Partners from a “buy” rating to a “hold” rating in a report on Friday, August 5th. They noted that the move was a valuation call. Citigroup Inc. lifted their target price on shares of Arc Logistic Partners from $13.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Arc Logistic Partners currently has a consensus rating of “Hold” and a consensus target price of $16.17.
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Shares of Arc Logistic Partners (NYSE:ARCX) traded down 2.7771% during trading on Tuesday, reaching $15.4001. 32,229 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $15.05 and a 200-day moving average price of $13.48. Arc Logistic Partners has a 52-week low of $8.66 and a 52-week high of $18.25. The company has a market capitalization of $297.14 million, a PE ratio of 28.2053 and a beta of 0.89.
Several hedge funds and other institutional investors have recently bought and sold shares of ARCX. Advisory Research Inc. increased its position in Arc Logistic Partners by 0.9% in the second quarter. Advisory Research Inc. now owns 542,595 shares of the company’s stock valued at $7,054,000 after buying an additional 5,000 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Arc Logistic Partners by 0.9% in the first quarter. Goldman Sachs Group Inc. now owns 786,051 shares of the company’s stock valued at $8,041,000 after buying an additional 7,289 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of Arc Logistic Partners during the second quarter valued at $111,000. Finally, Cohen & Steers Inc. raised its stake in shares of Arc Logistic Partners by 326.1% in the second quarter. Cohen & Steers Inc. now owns 642,090 shares of the company’s stock valued at $17,336,000 after buying an additional 491,397 shares during the period. Institutional investors own 69.46% of the company’s stock.
Arc Logistic Partners Company Profile
Arc Logistics Partners LP owns, operates, develops and acquires a portfolio of complementary energy logistics assets. The Company is engaged in the terminaling, storage, throughput and transloading of crude oil and petroleum products. It 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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