Arc Logistic Partners LP (NYSE:ARCX) has been given a consensus recommendation of “Hold” by the six research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $16.50.
A number of analysts have recently issued reports on the stock. Stifel Nicolaus restated a “hold” rating and set a $16.50 price target on shares of Arc Logistic Partners in a report on Friday, October 6th. BidaskClub downgraded shares of Arc Logistic Partners from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Zacks Investment Research upgraded shares of Arc Logistic Partners from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, SunTrust Banks, Inc. downgraded shares of Arc Logistic Partners from a “buy” rating to a “hold” rating and raised their price target for the stock from $15.00 to $16.50 in a report on Wednesday, August 30th.
Shares of Arc Logistic Partners (NYSE:ARCX) opened at $16.39 on Monday. The company has a market cap of $320.47, a PE ratio of 26.02, a price-to-earnings-growth ratio of 14.72 and a beta of 0.80. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.74. Arc Logistic Partners has a 1-year low of $13.51 and a 1-year high of $17.40.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 8th were given a $0.44 dividend. The ex-dividend date was Tuesday, November 7th. This represents a $1.76 annualized dividend and a yield of 10.74%. Arc Logistic Partners’s dividend payout ratio is presently 359.18%.
A number of hedge funds have recently modified their holdings of ARCX. Renaissance Technologies LLC boosted its position in 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. D.A. Davidson & CO. lifted its position in shares of Arc Logistic Partners by 29.7% during the 2nd quarter. D.A. Davidson & CO. now owns 9,604 shares of the pipeline company’s stock worth $145,000 after purchasing an additional 2,200 shares during the last quarter. Mariner Wealth Advisors LLC lifted its position in shares of Arc Logistic Partners by 3.0% during the 2nd quarter. Mariner Wealth Advisors LLC now owns 14,765 shares of the pipeline company’s stock worth $224,000 after purchasing an additional 434 shares during the last quarter. Mizuho Securities USA LLC purchased a new stake in shares of Arc Logistic Partners during the 3rd quarter worth $2,429,000. Finally, State of New Jersey Common Pension Fund D purchased a new stake in shares of Arc Logistic Partners during the 3rd quarter worth $3,024,000. 40.10% of the stock is owned by institutional investors.
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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