Arc Logistic Partners LP (ARCX) Rating Lowered to Hold at BidaskClub
BidaskClub lowered shares of Arc Logistic Partners LP (NYSE:ARCX) from a buy rating to a hold rating in a report issued on Tuesday morning.
A number of other equities research analysts have also commented on ARCX. Zacks Investment Research lowered shares of Arc Logistic Partners from a hold rating to a sell rating in a report on Tuesday, May 16th. ValuEngine lowered shares of Arc Logistic Partners from a buy rating to a hold rating in a report on Friday, June 2nd. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Arc Logistic Partners presently has a consensus rating of Hold and an average target price of $17.75.
Shares of Arc Logistic Partners (NYSE ARCX) opened at 14.97 on Tuesday. The firm has a market capitalization of $292.18 million, a price-to-earnings ratio of 21.63 and a beta of 0.83. Arc Logistic Partners has a 52 week low of $12.86 and a 52 week high of $17.40. The stock has a 50 day moving average of $15.09 and a 200-day moving average of $14.93.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 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 11.76%. The ex-dividend date is Friday, August 4th. Arc Logistic Partners’s dividend payout ratio is currently 225.64%.
A number of large investors have recently modified their holdings of ARCX. Orinda Asset Management LLC bought a new stake in shares of Arc Logistic Partners during the first quarter worth approximately $516,000. Raymond James Financial Services Advisors Inc. raised its position in shares of Arc Logistic Partners by 3.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 41,600 shares of the pipeline company’s stock valued at $593,000 after buying an additional 1,300 shares during the period. BB&T Securities LLC acquired a new position in shares of Arc Logistic Partners during the first quarter valued at about $174,000. Renaissance Technologies LLC raised its position in shares of Arc Logistic Partners by 289.9% in the first 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. Finally, KCG Holdings Inc. acquired a new position in shares of Arc Logistic Partners during the first quarter valued at about $464,000. 43.06% of the stock is currently owned by hedge funds and other institutional investors.
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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