Arc Logistic Partners LP (ARCX) Receives Consensus Rating of “Buy” from Analysts
Shares of Arc Logistic Partners LP (NYSE:ARCX) have received an average rating of “Buy” from the eight research firms that are currently covering the firm. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $16.40.
Several equities analysts recently issued reports on ARCX shares. Zacks Investment Research lowered Arc Logistic Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, October 11th. Citigroup Inc. increased their target price on Arc Logistic Partners from $13.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, August 8th. TheStreet raised Arc Logistic Partners from a “sell” rating to a “hold” rating in a research note on Monday, November 7th. DA Davidson reissued a “buy” rating and set a $22.00 target price on shares of Arc Logistic Partners in a research note on Tuesday, November 8th. Finally, Stifel Nicolaus raised Arc Logistic Partners from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Monday, November 7th. They noted that the move was a valuation call.
A number of large investors have recently modified their holdings of ARCX. Cohen & Steers Inc. increased its stake in shares of Arc Logistic Partners by 326.1% in the second quarter. Cohen & Steers Inc. now owns 642,090 shares of the company’s stock valued at $17,336,000 after buying an additional 491,397 shares during the period. Advisory Research Inc. increased its stake in shares of Arc Logistic Partners by 0.9% in the second quarter. Advisory Research Inc. now owns 542,595 shares of the company’s stock valued at $7,054,000 after buying an additional 5,000 shares during the period. Finally, JPMorgan Chase & Co. bought a new stake in shares of Arc Logistic Partners during the second quarter valued at $111,000. Institutional investors own 63.60% of the company’s stock.
Arc Logistic Partners (NYSE:ARCX) traded down 1.36% during midday trading on Tuesday, hitting $14.56. The company had a trading volume of 23,522 shares. The company has a market cap of $281.04 million, a price-to-earnings ratio of 21.70 and a beta of 0.88. Arc Logistic Partners has a 12 month low of $8.66 and a 12 month high of $16.07. The firm has a 50-day moving average price of $14.88 and a 200-day moving average price of $14.21.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Monday, November 7th were issued a dividend of $0.44 per share. The ex-dividend date was Thursday, November 3rd. This represents a $1.76 annualized dividend and a yield of 11.92%. Arc Logistic Partners’s dividend payout ratio (DPR) is 258.82%.
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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