Analysts Set ARC Document Solutions Inc. (NYSE:ARC) PT at $7.70
Shares of ARC Document Solutions Inc. (NYSE:ARC) have earned an average recommendation of “Hold” from the six analysts that are presently covering the firm. Four analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $7.70.
Several research firms have issued reports on ARC. B. Riley reissued a “buy” rating and set a $5.00 price target on shares of ARC Document Solutions in a report on Monday, August 1st. Zacks Investment Research lowered ARC Document Solutions from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th.
ARC Document Solutions (NYSE:ARC) opened at 3.74 on Wednesday. The company’s 50-day moving average price is $3.42 and its 200 day moving average price is $3.87. The company has a market capitalization of $172.07 million, a price-to-earnings ratio of 5.85 and a beta of 2.16. ARC Document Solutions has a 52-week low of $3.06 and a 52-week high of $6.77.
ARC Document Solutions (NYSE:ARC) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.10. ARC Document Solutions had a return on equity of 7.66% and a net margin of 7.18%. The business earned $103.80 million during the quarter, compared to analyst estimates of $109.31 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. ARC Document Solutions’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, equities analysts expect that ARC Document Solutions will post $0.25 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. acquired a new position in ARC Document Solutions during the second quarter worth $2,602,000. Bank of New York Mellon Corp raised its position in ARC Document Solutions by 34.6% in the second quarter. Bank of New York Mellon Corp now owns 482,285 shares of the company’s stock worth $1,876,000 after buying an additional 123,880 shares during the period. Strs Ohio increased its stake in ARC Document Solutions by 176.5% in the second quarter. Strs Ohio now owns 151,500 shares of the company’s stock worth $589,000 after buying an additional 96,700 shares in the last quarter. Smith Asset Management Group LP purchased a new stake in ARC Document Solutions during the second quarter worth approximately $357,000. Finally, First Quadrant L P CA increased its stake in ARC Document Solutions by 127.3% in the second quarter. First Quadrant L P CA now owns 32,500 shares of the company’s stock worth $126,000 after buying an additional 18,200 shares in the last quarter. 71.95% of the stock is owned by hedge funds and other institutional investors.
About ARC Document Solutions
ARC Document Solutions, Inc (ARC) is a document solutions provider for the architectural, engineering and construction (AEC) industry. The Company also provides document solutions to businesses of various types. ARC’s offerings include managed print services (MPS), offsite services, archive and information management (AIM), specialized color printing, Web-based document management applications, digital shipping/managed file transfer, and equipment and supplies sales.
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