ARC Document Solutions (ARC) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of ARC Document Solutions (NYSE:ARC) from a buy rating to a hold rating in a research note published on Friday morning.

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. “

Other equities analysts have also issued research reports about the company. B. Riley raised ARC Document Solutions from a neutral rating to a buy rating and raised their price objective for the stock from $2.75 to $3.25 in a report on Friday, August 3rd. ValuEngine raised ARC Document Solutions from a sell rating to a hold rating in a report on Monday, August 13th. One 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 a consensus rating of Hold and a consensus price target of $3.83.

Shares of ARC stock remained flat at $$2.54 during mid-day trading on Friday. The company’s stock had a trading volume of 138,041 shares, compared to its average volume of 266,701. 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 has a 12 month low of $1.62 and a 12 month high of $4.84. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.48.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its holdings in shares of ARC Document Solutions by 9.8% during the second quarter. Renaissance Technologies LLC now owns 3,328,381 shares of the business services provider’s stock worth $5,891,000 after buying an additional 298,001 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of ARC Document Solutions by 2.2% during the second 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 last quarter. JPMorgan Chase & Co. grew its holdings in shares of ARC Document Solutions by 3.0% during the first 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 last quarter. Millennium Management LLC grew its holdings in shares of ARC Document Solutions by 258.4% during the second 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 last quarter. Finally, Weber Alan W grew its holdings in shares of ARC Document Solutions by 84.3% during the second 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 last quarter. 61.97% of the stock is currently owned by hedge funds and other 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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