Today, Arc Logistic Partners LP (ARCX) Raised to “Buy” at Stifel Nicolaus

Today, Arc Logistic Partners LP (ARCX) Raised to “Buy” at Stifel Nicolaus

Arc Logistic Partners LP (NYSE:ARCX) was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a report released on Monday. The brokerage presently has a $15.00 price target on the stock. Stifel Nicolaus’ price target indicates a potential upside of 1.35% from the company’s previous close. The analysts noted that the move was a valuation call.

A number of other brokerages have also recently weighed in on ARCX. Zacks Investment Research cut shares of Arc Logistic Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, October 11th. Citigroup Inc. lifted their price target on shares of Arc Logistic Partners from $13.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, August 8th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Arc Logistic Partners has a consensus rating of “Buy” and an average price target of $16.50.

Arc Logistic Partners (NYSE:ARCX) opened at 14.80 on Monday. Arc Logistic Partners has a 52 week low of $8.66 and a 52 week high of $16.07. The firm has a market cap of $285.67 million, a PE ratio of 22.06 and a beta of 0.88. The firm’s 50 day moving average price is $14.76 and its 200-day moving average price is $14.25.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Monday, November 7th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 11.89%. Arc Logistic Partners’s payout ratio is 258.82%.

Several large investors have recently modified their holdings of ARCX. Cohen & Steers Inc. raised its stake in shares of Arc Logistic Partners by 326.1% in the second quarter. Cohen & Steers Inc. now owns 642,090 shares of the company’s stock valued at $17,336,000 after buying an additional 491,397 shares during the last quarter. Advisory Research Inc. raised its stake in shares of Arc Logistic Partners by 0.9% in the second quarter. Advisory Research Inc. now owns 542,595 shares of the company’s stock valued at $7,054,000 after buying an additional 5,000 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Arc Logistic Partners during the second quarter valued at about $111,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Arc Logistic Partners by 0.9% in the first quarter. Goldman Sachs Group Inc. now owns 786,051 shares of the company’s stock valued at $8,041,000 after buying an additional 7,289 shares during the last quarter. Institutional investors and hedge funds own 63.60% of the company’s stock.

About Arc Logistic Partners

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