D.A. Davidson Reiterates a Buy Rating on Arc Logistics PartnersBy Austin Angelo
In a report released yesterday, Poe Fratt from D.A. Davidson reiterated a Buy rating on Arc Logistics Partners (NYSE: ARCX), with a price target of $22. The company’s shares closed yesterday at $13.75.
According to TipRanks.com, Fratt is a 3-star analyst with an average return of 2.7% and a 66.7% success rate. Fratt covers the Basic Materials sector, focusing on stocks such as Blueknight Energy Partners L.P., Calumet Specialty Products, and Antero Midstream Partners.
Arc Logistics Partners has an analyst consensus of Moderate Buy.
Arc Logistics Partners’ market cap is currently $265.3M and has a P/E ratio of 20.41. The company has a book value ratio of 0.9174.
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is neutral on the stock.
Arc Logistics Partners LP owns, operates, develops and acquires a diversified portfolio of complementary energy logistics assets. It engages in the terminalling, storage, throughput and transloading of crude oil and petroleum products. The company focuses on growing the business through the optimization, organic development and acquisition of terminalling, storage, rail, pipeline and other energy logistics assets. Arc Logistics Partners was founded on July 29, 2013 and is headquartered in New York, NY.