Arc Logistic Partners LP (ARCX) Cut to “Hold” at Stifel Nicolaus
Stifel Nicolaus downgraded shares of Arc Logistic Partners LP (NYSE:ARCX) from a buy rating to a hold rating in a report published on Wednesday, Marketbeat reports. They currently have $16.50 price target on the pipeline company’s stock, down from their previous price target of $18.00.
A number of other research firms also recently weighed in on ARCX. Zacks Investment Research upgraded Arc Logistic Partners from a sell rating to a hold rating in a research report on Tuesday, July 25th. BidaskClub downgraded Arc Logistic Partners from a buy rating to a hold rating in a report on Tuesday, August 1st. Finally, ValuEngine downgraded Arc Logistic Partners from a buy rating to a hold rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $18.00.
Arc Logistic Partners (ARCX) opened at 16.63 on Wednesday. The stock’s 50 day moving average price is $15.09 and its 200-day moving average price is $14.75. The firm has a market cap of $325.03 million, a PE ratio of 27.35 and a beta of 0.83. Arc Logistic Partners has a 12-month low of $12.86 and a 12-month high of $17.40.
Arc Logistic Partners (NYSE:ARCX) last posted its quarterly earnings data on Tuesday, August 8th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The business had revenue of $26.59 million for the quarter, compared to the consensus estimate of $26.71 million. Arc Logistic Partners had a net margin of 13.28% and a return on equity of 4.10%. Equities research analysts anticipate that Arc Logistic Partners will post $0.68 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 8th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, August 4th. This represents a $1.76 dividend on an annualized basis and a yield of 10.58%. Arc Logistic Partners’s dividend payout ratio is presently 247.89%.
Several large investors have recently bought and sold shares of the company. Mariner Wealth Advisors LLC raised its stake in Arc Logistic Partners by 3.0% in the second quarter. Mariner Wealth Advisors LLC now owns 14,765 shares of the pipeline company’s stock valued at $224,000 after buying an additional 434 shares during the period. D.A. Davidson & CO. increased its position in shares of Arc Logistic Partners by 29.7% in the second quarter. D.A. Davidson & CO. now owns 9,604 shares of the pipeline company’s stock valued at $145,000 after buying an additional 2,200 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Arc Logistic Partners by 32.3% in the first quarter. Goldman Sachs Group Inc. now owns 908,661 shares of the pipeline company’s stock valued at $12,949,000 after buying an additional 221,662 shares in the last quarter. Bank of America Corp DE increased its position in shares of Arc Logistic Partners by 49.9% in the first quarter. Bank of America Corp DE now owns 407,276 shares of the pipeline company’s stock valued at $5,804,000 after buying an additional 135,650 shares in the last quarter. Finally, KCG Holdings Inc. purchased a new position in shares of Arc Logistic Partners during the first quarter valued at $464,000. Hedge funds and other institutional investors own 40.60% of the company’s stock.
About Arc Logistic Partners
Arc Logistics Partners LP owns, operates, develops and acquires a portfolio of energy logistics assets. The Company is engaged in the terminaling, storage, throughput and transloading of crude oil and petroleum products. The Company 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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