Raymond James Lowers ARC Resources (TSE:ARX) Price Target to C$32.00

ARC Resources (TSE:ARX) had its price target decreased by stock analysts at Raymond James from C$33.00 to C$32.00 in a research report issued on Wednesday,BayStreet.CA reports. Raymond James’ price objective would suggest a potential upside of 31.31% from the stock’s previous close.

A number of other equities analysts also recently weighed in on ARX. BMO Capital Markets lifted their target price on shares of ARC Resources from C$30.00 to C$32.00 in a research note on Friday, December 13th. National Bankshares increased their price target on ARC Resources from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Jefferies Financial Group boosted their price objective on ARC Resources from C$27.00 to C$29.00 in a research note on Monday, December 16th. CIBC upped their target price on ARC Resources from C$34.00 to C$35.00 in a research report on Friday, January 17th. Finally, UBS Group lifted their target price on ARC Resources from C$37.00 to C$39.00 in a report on Wednesday, March 26th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ARC Resources has an average rating of “Buy” and a consensus target price of C$32.58.

ARC Resources Stock Performance

TSE:ARX opened at C$24.37 on Wednesday. The company has a debt-to-equity ratio of 30.05, a quick ratio of 0.42 and a current ratio of 1.14. ARC Resources has a fifty-two week low of C$21.44 and a fifty-two week high of C$29.90. The company has a 50 day simple moving average of C$26.55 and a two-hundred day simple moving average of C$25.51. The company has a market capitalization of C$14.34 billion, a PE ratio of 12.85, a P/E/G ratio of 0.29 and a beta of 1.26.

ARC Resources Company Profile

ARC Resources Ltd. engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney basin located in Alberta and northeast British Columbia. ARC Resources Ltd. was founded in 1996 and is based in Calgary, Canada.