Zacks Investment Research lowered shares of ARC Document Solutions (NYSE:ARC) from a buy rating to a hold rating in a research report released on Thursday.
According to Zacks, “ARC Document Solutions Inc. is a document solutions company providing business-to-business document management technology and services to the architectural, engineering and construction, or AEC industries. It also provides document management services to companies in non-AEC industries, such as technology, financial services, retail, entertainment, and food and hospitality. The Company provides services that include scanning, imaging, and managing black and white and color documents. ARC Document Solutions Inc., formerly known as American Reprographics Company, is headquartered in Walnut Creek, California. “
Separately, TheStreet lowered shares of ARC Document Solutions from a c- rating to a d+ rating in a research report on Friday, November 17th. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $4.00.
ARC Document Solutions (NYSE:ARC) last announced its quarterly earnings data on Tuesday, February 27th. The business services provider reported $0.02 EPS for the quarter. The business had revenue of $97.10 million during the quarter, compared to analyst estimates of $95.32 million. ARC Document Solutions had a negative net margin of 5.45% and a positive return on equity of 4.45%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 earnings per share. sell-side analysts forecast that ARC Document Solutions will post 0.12 EPS for the current fiscal year.
In related news, Director Mark W. Mealy sold 22,000 shares of the stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $2.71, for a total value of $59,620.00. Following the completion of the transaction, the director now owns 116,538 shares of the company’s stock, valued at $315,817.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 14.93% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan acquired a new position in ARC Document Solutions in the fourth quarter worth about $398,000. Cornerstone Capital Management Holdings LLC. raised its position in ARC Document Solutions by 114.3% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 121,100 shares of the business services provider’s stock worth $308,000 after purchasing an additional 64,600 shares in the last quarter. Two Sigma Investments LP raised its position in ARC Document Solutions by 48.1% in the fourth quarter. Two Sigma Investments LP now owns 169,417 shares of the business services provider’s stock worth $432,000 after purchasing an additional 54,994 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of ARC Document Solutions by 78.8% during the fourth quarter. Two Sigma Advisers LP now owns 168,760 shares of the business services provider’s stock worth $430,000 after buying an additional 74,400 shares in the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new stake in shares of ARC Document Solutions during the fourth quarter worth approximately $263,000. 69.03% of the stock is owned by hedge funds and other institutional investors.
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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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