Arc Logistic Partners LP (ARCX) Raised to “Buy” at Stifel Nicolaus
Stifel Nicolaus upgraded shares of Arc Logistic Partners LP (NYSE:ARCX) from a hold rating to a buy rating in a report released on Monday morning. The firm currently has $15.00 price objective on the stock. The analysts noted that the move was a valuation call.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised Arc Logistic Partners from a hold rating to a buy rating and set a $17.00 target price on the stock in a research report on Tuesday, October 4th. Citigroup Inc. raised their target price on Arc Logistic Partners from $13.00 to $18.00 and gave the stock a buy rating in a research report on Monday, August 8th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $16.50.
Shares of Arc Logistic Partners (NYSE:ARCX) opened at 14.05 on Monday. The firm has a 50-day moving average price of $15.00 and a 200 day moving average price of $14.12. Arc Logistic Partners has a 52-week low of $8.66 and a 52-week high of $16.07. The stock has a market cap of $271.09 million, a price-to-earnings ratio of 25.73 and a beta of 0.88.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, November 7th will be issued a $0.44 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 12.43%. Arc Logistic Partners’s dividend payout ratio (DPR) is 258.82%.
Institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position in Arc Logistic Partners by 0.9% in the first quarter. Goldman Sachs Group Inc. now owns 786,051 shares of the company’s stock worth $8,041,000 after buying an additional 7,289 shares during the period. JPMorgan Chase & Co. bought a new position in Arc Logistic Partners during the second quarter worth $111,000. Advisory Research Inc. boosted its position in Arc Logistic Partners by 0.9% in the second quarter. Advisory Research Inc. now owns 542,595 shares of the company’s stock worth $7,054,000 after buying an additional 5,000 shares during the period. Finally, Cohen & Steers Inc. boosted its position in Arc Logistic Partners by 326.1% in the second quarter. Cohen & Steers Inc. now owns 642,090 shares of the company’s stock worth $17,336,000 after buying an additional 491,397 shares during the period. 69.46% of the stock is owned by institutional investors.
About Arc Logistic Partners
Arc Logistics Partners LP owns, operates, develops and acquires a portfolio of complementary energy logistics assets. The Company is engaged in the terminaling, storage, throughput and transloading of crude oil and petroleum products. It 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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