Shares of ARC Document Solutions, Inc. (NYSE:ARC) fell NaN on Thursday following a weaker than expected earnings announcement. The stock traded as low as $3.01 and last traded at $0.00. 595,948 shares traded hands during mid-day trading, an increase of Infinity from the average session volume of 0 shares. The business services provider reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The company had revenue of $96.50 million for the quarter, compared to analysts’ expectations of $98.24 million. ARC Document Solutions had a negative net margin of 1.70% and a positive return on equity of 5.28%. ARC Document Solutions’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 earnings per share.

ARC has been the subject of several analyst reports. ValuEngine lowered ARC Document Solutions from a “buy” rating to a “hold” rating in a research note on Thursday. FBR & Co lowered ARC Document Solutions from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $4.00 to $5.25 in a research note on Thursday. B. Riley lowered ARC Document Solutions from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $5.25 to $4.00 in a research note on Thursday. TheStreet upgraded ARC Document Solutions from a “d+” rating to a “c” rating in a research note on Tuesday, August 1st. Finally, Raymond James Financial, Inc. upgraded ARC Document Solutions from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Three research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $4.63.

A number of institutional investors have recently modified their holdings of the stock. Boston Partners boosted its holdings in shares of ARC Document Solutions by 6.3% during the 3rd quarter. Boston Partners now owns 1,540,913 shares of the business services provider’s stock valued at $6,302,000 after purchasing an additional 91,010 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of ARC Document Solutions by 7.7% during the 3rd quarter. American Century Companies Inc. now owns 370,466 shares of the business services provider’s stock valued at $1,515,000 after purchasing an additional 26,503 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of ARC Document Solutions by 10.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,025 shares of the business services provider’s stock valued at $158,000 after purchasing an additional 3,446 shares during the last quarter. State Street Corp boosted its holdings in shares of ARC Document Solutions by 5.9% during the 2nd quarter. State Street Corp now owns 695,218 shares of the business services provider’s stock valued at $2,892,000 after purchasing an additional 39,036 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its holdings in shares of ARC Document Solutions by 6.9% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 45,000 shares of the business services provider’s stock valued at $186,000 after purchasing an additional 2,900 shares during the last quarter. 70.57% of the stock is owned by institutional investors.

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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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