ARC Document Solutions Inc. (ARC) Lifted to Hold at Zacks Investment Research
ARC Document Solutions Inc. (NYSE:ARC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “ARC Document Solutions Inc. is a document solutions company providing business-to-business document management technology and services to the architectural, engineering and construction, or AEC industries. It also provides document management services to companies in non-AEC industries, such as technology, financial services, retail, entertainment, and food and hospitality. The Company provides services that include scanning, imaging, and managing black and white and color documents. ARC Document Solutions Inc., formerly known as American Reprographics Company, is headquartered in Walnut Creek, California. “
Separately, B. Riley reaffirmed a “buy” rating and issued a $5.00 price target on shares of ARC Document Solutions in a report on Monday, August 1st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. ARC Document Solutions has a consensus rating of “Hold” and an average target price of $7.70.
Shares of ARC Document Solutions (NYSE:ARC) traded down 0.81% during midday trading on Tuesday, hitting $3.66. The company’s stock had a trading volume of 37,834 shares. ARC Document Solutions has a 52-week low of $3.06 and a 52-week high of $6.77. The firm has a market cap of $168.39 million, a P/E ratio of 5.73 and a beta of 2.16. The stock’s 50 day moving average is $3.44 and its 200-day moving average is $3.87.
ARC Document Solutions (NYSE:ARC) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. The company had revenue of $103.80 million for the quarter, compared to analysts’ expectations of $109.31 million. ARC Document Solutions had a net margin of 7.18% and a return on equity of 7.66%. ARC Document Solutions’s revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.13 EPS. Equities analysts predict that ARC Document Solutions will post $0.25 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of the stock. Pzena Investment Management LLC boosted its stake in shares of ARC Document Solutions by 0.3% in the second quarter. Pzena Investment Management LLC now owns 3,916,110 shares of the company’s stock worth $15,234,000 after buying an additional 10,784 shares during the last quarter. Smith Asset Management Group LP purchased a new position in ARC Document Solutions during the second quarter worth approximately $357,000. Spark Investment Management LLC raised its position in ARC Document Solutions by 20.2% in the first quarter. Spark Investment Management LLC now owns 140,800 shares of the company’s stock worth $633,000 after buying an additional 23,700 shares during the period. Acrospire Investment Management LLC raised its position in ARC Document Solutions by 53.6% in the second quarter. Acrospire Investment Management LLC now owns 56,172 shares of the company’s stock worth $219,000 after buying an additional 19,607 shares during the period. Finally, LSV Asset Management purchased a new position in ARC Document Solutions during the second quarter worth approximately $954,000. 71.95% of the stock is currently owned by institutional investors and hedge funds.
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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