Arc Logistic Partners LP (NYSE:ARCX) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of Arc Logistic Partners LP (NYSE:ARCX) from a buy rating to a hold rating in a report published on Tuesday, August 1st.

A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Arc Logistic Partners from a hold rating to a sell rating in a research note on Tuesday, May 16th. ValuEngine lowered shares of Arc Logistic Partners from a buy rating to a hold rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $19.00.

Arc Logistic Partners (NYSE ARCX) opened at 14.59 on Tuesday. Arc Logistic Partners has a 52 week low of $12.86 and a 52 week high of $17.40. The stock’s 50 day moving average is $15.06 and its 200 day moving average is $14.79. The stock has a market cap of $285.16 million, a PE ratio of 24.00 and a beta of 0.83.

Arc Logistic Partners (NYSE:ARCX) last released its quarterly earnings data on Tuesday, August 8th. The pipeline company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.03. The business had revenue of $26.59 million during the quarter, compared to analyst estimates of $26.71 million. Arc Logistic Partners had a return on equity of 4.10% and a net margin of 13.28%. Analysts predict that Arc Logistic Partners will post $0.77 EPS for the current year.

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The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 8th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 12.06%. The ex-dividend date was Friday, August 4th. Arc Logistic Partners’s dividend payout ratio (DPR) is presently 247.89%.

Hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in shares of Arc Logistic Partners by 32.3% in the first quarter. Goldman Sachs Group Inc. now owns 908,661 shares of the pipeline company’s stock worth $12,949,000 after buying an additional 221,662 shares during the period. Bank of America Corp DE increased its stake in shares of Arc Logistic Partners by 49.9% in the first quarter. Bank of America Corp DE now owns 407,276 shares of the pipeline company’s stock worth $5,804,000 after buying an additional 135,650 shares during the period. Renaissance Technologies LLC increased its stake 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 worth $1,488,000 after buying an additional 77,656 shares during the period. Orinda Asset Management LLC purchased a new stake in shares of Arc Logistic Partners during the first quarter worth about $516,000. Finally, KCG Holdings Inc. purchased a new stake in shares of Arc Logistic Partners during the first quarter worth about $464,000. 43.00% of the stock is currently owned by hedge funds and other 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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