Arc Logistic Partners LP (ARCX) Given Average Rating of “Hold” by Brokerages
Shares of Arc Logistic Partners LP (NYSE:ARCX) have received a consensus rating of “Hold” from the eight ratings firms that are currently covering the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $16.75.
Several analysts recently issued reports on the stock. Stifel Nicolaus lowered 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. Zacks Investment Research downgraded Arc Logistic Partners from a “buy” rating to a “hold” rating in a research report on Thursday, July 7th. Finally, Citigroup Inc. lifted their target price on Arc Logistic Partners from $13.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, August 8th.
Institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position 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 worth $8,041,000 after buying an additional 7,289 shares in the last quarter. Cohen & Steers Inc. increased its position 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 worth $17,336,000 after buying an additional 491,397 shares in the last quarter. Advisory Research Inc. increased its position in shares of Arc Logistic Partners by 0.9% in the second quarter. Advisory Research Inc. now owns 542,595 shares of the company’s stock worth $7,054,000 after buying an additional 5,000 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new position in shares of Arc Logistic Partners during the second quarter worth approximately $111,000. 69.46% of the stock is owned by institutional investors and hedge funds.
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Arc Logistic Partners (NYSE:ARCX) traded down 0.47% during mid-day trading on Tuesday, hitting $14.98. 22,531 shares of the company’s stock traded hands. Arc Logistic Partners has a one year low of $8.66 and a one year high of $18.25. The stock has a market cap of $289.04 million, a PE ratio of 27.44 and a beta of 0.89. The firm’s 50-day moving average price is $15.09 and its 200-day moving average price is $13.63.
About Arc Logistic Partners
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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