Zacks Investment Research Upgrades ARC Document Solutions (ARC) to Buy

ARC Document Solutions (NYSE:ARC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The firm presently has a $3.00 price objective on the business services provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 18.11% from the company’s previous close.

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. “

A number of other equities research analysts also recently weighed in on ARC. ValuEngine downgraded shares of ARC Document Solutions from a “sell” rating to a “strong sell” rating in a report on Monday, July 2nd. B. Riley raised shares of ARC Document Solutions from a “neutral” rating to a “buy” rating and upped their price target for the company from $2.75 to $3.25 in a report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. ARC Document Solutions has an average rating of “Hold” and an average target price of $3.83.

Shares of NYSE ARC opened at $2.54 on Thursday. ARC Document Solutions has a twelve month low of $1.62 and a twelve month high of $4.84. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.48 and a quick ratio of 1.24. The stock has a market capitalization of $129.71 million, a price-to-earnings ratio of 16.93 and a beta of 2.25.

ARC Document Solutions (NYSE:ARC) last issued its quarterly earnings results on Thursday, August 2nd. The business services provider reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.03. ARC Document Solutions had a negative net margin of 5.62% and a positive return on equity of 4.13%. The company had revenue of $104.19 million during the quarter, compared to the consensus estimate of $103.94 million. On average, equities research analysts forecast that ARC Document Solutions will post 0.14 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC lifted its holdings in ARC Document Solutions by 9.8% in the 2nd quarter. Renaissance Technologies LLC now owns 3,328,381 shares of the business services provider’s stock valued at $5,891,000 after acquiring an additional 298,001 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in ARC Document Solutions by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,560,105 shares of the business services provider’s stock worth $4,531,000 after buying an additional 55,457 shares during the period. JPMorgan Chase & Co. raised its holdings in ARC Document Solutions by 3.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,508,987 shares of the business services provider’s stock worth $3,320,000 after buying an additional 43,664 shares during the period. Millennium Management LLC raised its holdings in ARC Document Solutions by 258.4% during the 2nd quarter. Millennium Management LLC now owns 913,500 shares of the business services provider’s stock worth $1,617,000 after buying an additional 658,615 shares during the period. Finally, Weber Alan W raised its holdings in ARC Document Solutions by 84.3% during the 2nd quarter. Weber Alan W now owns 874,700 shares of the business services provider’s stock worth $1,548,000 after buying an additional 400,000 shares during the period. 61.97% of the stock is owned by institutional investors.

About ARC Document Solutions

ARC Document Solutions, Inc, a reprographics company, provides document solutions worldwide. It offers managed print services, an onsite service that places, manages, and optimizes print and imaging equipment in customers' offices, job sites, and other facilities; and operates 175 offsite service centers, which offers managed print service customers with the flexibility and overflow capacity during peak workloads.

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