The stock of Arc Logistics Partners LP (NYSE:ARCX) gapped up by $0.02 today and has $46.46 target or 198.00% above today’s $15.59 share price. The 5 months technical chart setup indicates low risk for the $300.82 million company. The gap was reported on Oct, 4 by Barchart.com. If the $46.46 price target is reached, the company will be worth $595.62 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 3.79% or $0.57 on October 3, hitting $15.59. About 57,702 shares traded hands or 110.38% up from the average. Arc Logistics Partners LP (NYSE:ARCX) has risen 28.74% since March 1, 2016 and is uptrending. It has outperformed by 16.52% the S&P500.
Analysts await Arc Logistics Partners LP (NYSE:ARCX) to report earnings on November, 2. They expect $0.28 EPS, up 16.67% or $0.04 from last year’s $0.24 per share. ARCX’s profit will be $5.40 million for 13.92 P/E if the $0.28 EPS becomes a reality. After $0.22 actual EPS reported by Arc Logistics Partners LP for the previous quarter, Wall Street now forecasts 27.27% EPS growth.
Arc Logistics Partners LP (NYSE:ARCX) Ratings Coverage
Out of 7 analysts covering Arc Logistics (NYSE:ARCX), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. Arc Logistics has been the topic of 12 analyst reports since August 7, 2015 according to StockzIntelligence Inc. Citigroup maintained the shares of ARCX in a report on Friday, May 20 with “Buy” rating. Barclays Capital downgraded the stock to “Equal Weight” rating in Monday, January 11 report. The firm has “Hold” rating given on Friday, August 5 by Stifel Nicolaus. The stock of Arc Logistics Partners LP (NYSE:ARCX) earned “Equal-Weight” rating by Barclays Capital on Monday, March 14. The stock has “Buy” rating given by DA Davidson on Tuesday, November 17. The stock of Arc Logistics Partners LP (NYSE:ARCX) earned “Buy” rating by Seaport Global on Friday, May 6. The stock of Arc Logistics Partners LP (NYSE:ARCX) earned “Buy” rating by Stifel Nicolaus on Friday, May 6. Citigroup maintained Arc Logistics Partners LP (NYSE:ARCX) rating on Tuesday, March 15. Citigroup has “Buy” rating and $11 price target.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment decreased to 0.75 in Q2 2016. Its down 0.63, from 1.38 in 2016Q1. The ratio fall, as 5 funds sold all Arc Logistics Partners LP shares owned while 7 reduced positions. 3 funds bought stakes while 6 increased positions. They now own 7.25 million shares or 25.50% less from 9.73 million shares in 2016Q1.
Morgan Stanley last reported 125,066 shares in the company. Jpmorgan Chase And last reported 0% of its portfolio in the stock. Magnetar Fincl Ltd Liability Company holds 572,635 shares or 0.14% of its portfolio. The New York-based Citigroup Inc has invested 0% in Arc Logistics Partners LP (NYSE:ARCX). California Public Employees Retirement Sys holds 0% or 22,800 shares in its portfolio. Salient Capital Advsr Limited Liability, a Texas-based fund reported 537,516 shares. The North Carolina-based Fincl Bank Of America De has invested 0% in Arc Logistics Partners LP (NYSE:ARCX). Walleye Trading Limited Liability Company reported 5,800 shares or 0% of all its holdings. Deutsche Comml Bank Ag last reported 0% of its portfolio in the stock. Goldman Sachs Group owns 739,072 shares or 0% of their US portfolio. Advisory Inc last reported 542,595 shares in the company. Eagle Global Advsr Ltd Liability Corp, a Texas-based fund reported 353,357 shares. Wells Fargo & Com Mn holds 0% or 1,090 shares in its portfolio. The New York-based Tower Capital Ltd Liability Corp (Trc) has invested 0% in Arc Logistics Partners LP (NYSE:ARCX). Raymond James Financial Svcs Advsr accumulated 0.01% or 40,800 shares.
More notable recent Arc Logistics Partners LP (NYSE:ARCX) news were published by: Marketwatch.com which released: “Arc Logistics Partners LP” on November 20, 2013, also Globenewswire.com with their article: “Arc Logistics Partners LP Announces Quarterly Distribution, Second Quarter …” published on July 28, 2016, Globenewswire.com published: “Arc Logistics Partners LP Announces Fourth Quarter and Full Year 2015 Results” on March 10, 2016. More interesting news about Arc Logistics Partners LP (NYSE:ARCX) were released by: Globenewswire.com and their article: “Arc Logistics Partners LP Announces First Quarter 2016 Results” published on May 05, 2016 as well as Globenewswire.com‘s news article titled: “Arc Logistics Partners LP Completes Its Acquisition of Four Refined Products …” with publication date: January 14, 2016.
ARCX Company Profile
Arc Logistics Partners LP, incorporated on July 29, 2013, owns, operates, develops and acquires a portfolio of complementary energy logistics assets. The Firm 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. It offers storage and throughput services fees, and ancillary services fees. The Firm operates through terminal and transloading facilities segment.
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