ARC Document Solutions Inc. (ARC) Shares Up 1.7%
ARC Document Solutions Inc. (NYSE:ARC)’s share price shot up 1.7% during mid-day trading on Tuesday . The company traded as high as $4.13 and last traded at $4.11, with a volume of 73,361 shares traded. The stock had previously closed at $4.04.
A number of brokerages have recently issued reports on ARC. Zacks Investment Research raised ARC Document Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, July 5th. B. Riley reissued a “buy” rating and issued a $5.00 target price on shares of ARC Document Solutions in a report on Saturday, May 7th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $8.00.
The firm has a market cap of $194.31 million and a price-to-earnings ratio of 2.05. The company has a 50 day moving average price of $4.03 and a 200-day moving average price of $3.92.
ARC Document Solutions (NYSE:ARC) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. During the same quarter in the prior year, the firm earned $0.09 EPS. The firm had revenue of $103.60 million for the quarter, compared to the consensus estimate of $100.55 million. The company’s revenue was down .7% on a year-over-year basis. Equities research analysts anticipate that ARC Document Solutions Inc. will post $0.32 earnings per share for the current year.
In other news, VP Dennis Jeffery Grimes acquired 13,198 shares of ARC Document Solutions stock in a transaction dated Thursday, May 5th. The stock was bought at an average price of $4.15 per share, for a total transaction of $54,771.70. Following the completion of the acquisition, the vice president now directly owns 29,197 shares in the company, valued at approximately $121,167.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kumarakulasingam Suriyakumar sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $4.10, for a total value of $820,000.00. Following the sale, the chief executive officer now owns 495,772 shares of the company’s stock, valued at approximately $2,032,665.20. The disclosure for this sale can be found here.
Other large investors have added to or reduced their stakes in the company. Russell Frank Co increased its stake in ARC Document Solutions by 32.5% in the fourth quarter. Russell Frank Co now owns 428,012 shares of the company’s stock worth $1,905,000 after buying an additional 104,942 shares during the last quarter. Oxford Asset Management increased its stake in ARC Document Solutions by 16.6% in the fourth quarter. Oxford Asset Management now owns 292,009 shares of the company’s stock worth $1,289,000 after buying an additional 41,638 shares during the last quarter. Finally, Boston Partners increased its stake in ARC Document Solutions by 26.4% in the fourth quarter. Boston Partners now owns 1,853,490 shares of the company’s stock worth $8,192,000 after buying an additional 387,000 shares during the last quarter.
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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