ARC Document Solutions, Inc. (NYSE:ARC) posted its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02, Bloomberg Earnings reports. The company had revenue of $102.30 million for the quarter, compared to analysts’ expectations of $100.74 million. ARC Document Solutions had a net margin of 2.72% and a return on equity of 7.00%. ARC Document Solutions’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. ARC Document Solutions updated its FY17 guidance to $0.24-0.29 EPS.
Shares of ARC Document Solutions (ARC) traded down 4.09% during midday trading on Friday, reaching $3.52. 139,579 shares of the company’s stock were exchanged. ARC Document Solutions has a one year low of $3.06 and a one year high of $5.55. The firm has a 50 day moving average of $3.96 and a 200-day moving average of $3.96. The stock has a market cap of $163.47 million, a price-to-earnings ratio of 14.79 and a beta of 2.50.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Blair William & Co. IL boosted its position in shares of ARC Document Solutions by 1.8% in the first quarter. Blair William & Co. IL now owns 28,516 shares of the business services provider’s stock valued at $115,000 after buying an additional 500 shares in the last quarter. Eagle Global Advisors LLC acquired a new position in shares of ARC Document Solutions during the first quarter valued at $127,000. Perkins Capital Management Inc. boosted its position in shares of ARC Document Solutions by 47.2% in the first quarter. Perkins Capital Management Inc. now owns 43,416 shares of the business services provider’s stock valued at $150,000 after buying an additional 13,916 shares in the last quarter. TFS Capital LLC boosted its position in shares of ARC Document Solutions by 322.4% in the first quarter. TFS Capital LLC now owns 51,694 shares of the business services provider’s stock valued at $178,000 after buying an additional 39,455 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of ARC Document Solutions during the first quarter valued at $208,000. Institutional investors and hedge funds own 71.85% of the company’s stock.
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A number of equities research analysts recently commented on ARC shares. Raymond James Financial, Inc. raised shares of ARC Document Solutions from an “outperform” rating to a “strong-buy” rating in a report on Thursday, July 6th. TheStreet raised shares of ARC Document Solutions from a “d+” rating to a “c” rating in a report on Tuesday, August 1st. Finally, B. Riley reissued a “buy” rating and set a $5.00 target price on shares of ARC Document Solutions in a report on Monday, May 8th.
ARC Document Solutions Company Profile
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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