Arc Logistic Partners’ (ARCX) “Hold” Rating Reaffirmed at SunTrust Banks, Inc.
SunTrust Banks, Inc. restated their hold rating on shares of Arc Logistic Partners LP (NYSE:ARCX) in a research note released on Friday morning. The firm currently has a $16.50 price objective on the pipeline company’s stock.
Other equities analysts have also recently issued reports about the company. BidaskClub cut Arc Logistic Partners from a buy rating to a hold rating in a report on Tuesday, August 1st. Zacks Investment Research upgraded Arc Logistic Partners from a sell rating to a hold rating in a report on Tuesday, October 17th. Finally, Stifel Nicolaus cut Arc Logistic Partners from a buy rating to a hold rating and lowered their target price for the company from $18.00 to $16.50 in a report on Wednesday, August 30th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The company has an average rating of Hold and an average target price of $16.50.
Shares of Arc Logistic Partners (ARCX) traded up $0.01 during trading on Friday, reaching $16.36. The company had a trading volume of 366,400 shares, compared to its average volume of 89,872. Arc Logistic Partners has a 12 month low of $13.51 and a 12 month high of $17.40. The stock has a market cap of $319.68, a PE ratio of 21.23, a price-to-earnings-growth ratio of 13.26 and a beta of 0.80. The company has a quick ratio of 1.02, a current ratio of 0.96 and a debt-to-equity ratio of 0.74.
Arc Logistic Partners (NYSE:ARCX) last announced its earnings results on Tuesday, August 8th. The pipeline company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). Arc Logistic Partners had a net margin of 9.13% and a return on equity of 3.26%. The firm had revenue of $26.59 million for the quarter, compared to analysts’ expectations of $26.71 million. equities research analysts anticipate that Arc Logistic Partners will post 0.62 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 8th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 10.76%. The ex-dividend date of this dividend is Tuesday, November 7th. Arc Logistic Partners’s dividend payout ratio (DPR) is 247.89%.
Institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its holdings in Arc Logistic Partners by 32.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 908,661 shares of the pipeline company’s stock valued at $12,949,000 after acquiring an additional 221,662 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Arc Logistic Partners by 289.9% in the 1st quarter. Renaissance Technologies LLC now owns 104,441 shares of the pipeline company’s stock valued at $1,488,000 after buying an additional 77,656 shares during the period. Mizuho Securities USA LLC purchased a new position in shares of Arc Logistic Partners in the 3rd quarter valued at about $2,429,000. Bank of America Corp DE boosted its stake in shares of Arc Logistic Partners by 49.9% in the 1st 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 during the period. Finally, Dupont Capital Management Corp purchased a new position in shares of Arc Logistic Partners in the 3rd quarter valued at about $1,022,000. Institutional investors own 42.92% of the company’s stock.
Arc Logistic Partners Company Profile
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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