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 brokerages have also weighed in on ARCX. Citigroup Inc. boosted their target price on Arc Logistic Partners from $13.00 to $18.00 and gave the stock a buy rating in a research report on Monday, August 8th. Stifel Nicolaus lowered Arc Logistic Partners from a buy rating to a hold rating in a research report on Friday, August 5th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $16.17.
Shares of Arc Logistic Partners (NYSE:ARCX) opened at 15.15 on Tuesday. The stock has a market capitalization of $292.32 million, a P/E ratio of 27.75 and a beta of 0.89. The company has a 50-day moving average of $15.09 and a 200-day moving average of $13.55. Arc Logistic Partners has a 52 week low of $8.66 and a 52 week high of $18.25.
Several large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its position 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 worth $8,041,000 after buying an additional 7,289 shares during the period. JPMorgan Chase & Co. bought a new position in shares of Arc Logistic Partners during the second quarter worth about $111,000. Advisory Research Inc. increased its position 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 worth $7,054,000 after buying an additional 5,000 shares during the period. Finally, Cohen & Steers Inc. increased its position 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 worth $17,336,000 after buying an additional 491,397 shares during the period. 69.46% of the stock is owned by hedge funds and other institutional investors.
About Arc Logistic Partners
Arc Logistics Partners LP owns, operates, develops and acquires a portfolio of complementary energy logistics assets. The Company is engaged in the terminaling, storage, throughput and transloading of crude oil and petroleum products. It 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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