Arc Logistic Partners LP (ARCX) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Arc Logistic Partners LP (NYSE:ARCX) have been assigned a consensus recommendation of “Hold” from the eight analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $18.33.
Several research analysts have issued reports on ARCX shares. SunTrust Banks, Inc. cut Arc Logistic Partners from a “buy” rating to a “hold” rating and increased their price objective for the stock from $15.00 to $16.50 in a research report on Wednesday, August 30th. Zacks Investment Research upgraded Arc Logistic Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Stifel Nicolaus cut Arc Logistic Partners from a “buy” rating to a “hold” rating and cut their price objective for the stock from $18.00 to $16.50 in a research report on Wednesday, August 30th. Finally, BidaskClub cut Arc Logistic Partners from a “buy” rating to a “hold” rating in a research report on Thursday, September 14th.
Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its holdings in 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 purchasing an additional 221,662 shares during the last quarter. Renaissance Technologies LLC grew its holdings in 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 purchasing an additional 77,656 shares during the last quarter. Bank of America Corp DE grew its holdings in 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 purchasing an additional 135,650 shares during the last quarter. Mizuho Securities USA LLC acquired a new stake in Arc Logistic Partners in the third quarter valued at $2,429,000. Finally, KCG Holdings Inc. acquired a new stake in Arc Logistic Partners in the first quarter valued at $464,000. 41.72% of the stock is currently owned by institutional investors.
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Arc Logistic Partners (NYSE:ARCX) last released its quarterly earnings data on Tuesday, August 8th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.03). The business had revenue of $26.59 million during the quarter, compared to analysts’ expectations of $26.71 million. Arc Logistic Partners had a return on equity of 4.10% and a net margin of 13.28%.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 8th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 10.48%. The ex-dividend date is Tuesday, November 7th. Arc Logistic Partners’s dividend payout ratio (DPR) is 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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