ARC Resources (OTCMKTS:AGGZF) had its target price lowered by analysts at CIBC from $40.00 to $38.00 in a research report issued on Wednesday, The Fly reports. The firm presently has an “outperform” rating on the stock. CIBC’s target price would suggest a potential upside of 58.47% from the company’s previous close.
Several other equities analysts have also recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of ARC Resources from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Raymond James cut shares of ARC Resources from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, Scotiabank lifted their price objective on shares of ARC Resources from $38.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $42.00.
ARC Resources stock traded down $3.02 during trading hours on Wednesday, hitting $23.98. 713 shares of the company traded hands, compared to its average volume of 788. The firm’s 50-day moving average price is $25.70. ARC Resources has a 1-year low of $10.99 and a 1-year high of $36.10.
ARC Resources Company Profile
Ag Growth International Inc, together with its subsidiaries, manufactures and distributes grain handling, storage, and conditioning equipment in Canada, the United States, and internationally. The company offers portable handling equipment, such as portable augers, portable belt conveyors, grain vacs, post pounders, seed treaters, and accessories; and permanent handling equipment, including bucket elevators, chain and belt conveyors, enclosed belt conveyors, distributors, feed handling equipment, screw feeders and conveyors, and spouts and connections.
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