Arc Logistic Partners LP (ARCX) Downgraded by Zacks Investment Research to Sell

Arc Logistic Partners LP (NYSE:ARCX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

According to Zacks, “Arc Logistics Partners LP is principally engaged in the terminalling, storage, throughput and transloading of crude oil and petroleum products. It owns, operates, develops and acquires a portfolio of complementary energy logistics assets. Arc Logistics Partners LP is based in New York. “

A number of other research firms have also recently weighed in on ARCX. Stifel Nicolaus raised Arc Logistic Partners from a “hold” rating to a “buy” rating and lifted their price objective for the company from $13.00 to $18.00 in a research report on Wednesday, August 9th. BidaskClub cut Arc Logistic Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, SunTrust Banks, Inc. cut Arc Logistic Partners from a “buy” rating to a “hold” rating and lifted their price objective for the company from $15.00 to $16.50 in a research report on Wednesday, August 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $18.33.

Arc Logistic Partners (NYSE ARCX) traded down 0.18% during midday trading on Tuesday, reaching $16.66. 83,399 shares of the company’s stock traded hands. The stock has a market cap of $325.62 million, a PE ratio of 27.40 and a beta of 0.81. The stock’s 50 day moving average price is $16.23 and its 200-day moving average price is $15.07. Arc Logistic Partners has a one year low of $12.86 and a one year high of $17.40.

Arc Logistic Partners (NYSE:ARCX) last posted 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). Arc Logistic Partners had a net margin of 13.28% and a return on equity of 4.10%. The company had revenue of $26.59 million for the quarter, compared to analysts’ expectations of $26.71 million. Equities analysts predict that Arc Logistic Partners will post $0.68 earnings per share for the current year.

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Hedge funds have recently bought and sold shares of the company. 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 valued at $145,000 after buying an additional 2,200 shares in the last quarter. BB&T Securities LLC purchased a new position in shares of Arc Logistic Partners during the 1st quarter valued at about $174,000. 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 valued at $224,000 after buying an additional 434 shares in the last quarter. KCG Holdings Inc. purchased a new position in shares of Arc Logistic Partners during the 1st quarter valued at about $464,000. Finally, Renaissance Technologies LLC lifted its position in shares of Arc Logistic Partners by 289.9% during 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 in the last quarter. 40.60% 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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