UBS Group Issues Positive Forecast for ARC Resources (TSE:ARX) Stock Price

ARC Resources (TSE:ARX) had its target price lifted by research analysts at UBS Group from C$37.00 to C$39.00 in a note issued to investors on Wednesday,BayStreet.CA reports. UBS Group’s target price indicates a potential upside of 36.60% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. National Bankshares lifted their price target on shares of ARC Resources from C$32.00 to C$34.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. TD Securities lifted their target price on shares of ARC Resources from C$33.00 to C$34.00 and gave the company a “buy” rating in a research note on Friday, February 7th. BMO Capital Markets upped their target price on shares of ARC Resources from C$30.00 to C$32.00 in a report on Friday, December 13th. CIBC raised their price target on ARC Resources from C$34.00 to C$35.00 in a report on Friday, January 17th. Finally, Jefferies Financial Group upped their price objective on ARC Resources from C$27.00 to C$29.00 in a research note on Monday, December 16th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, ARC Resources presently has a consensus rating of “Buy” and an average price target of C$32.79.

ARC Resources Stock Down 1.1 %

TSE ARX opened at C$28.55 on Wednesday. ARC Resources has a 52 week low of C$21.44 and a 52 week high of C$29.05. The company has a quick ratio of 0.42, a current ratio of 1.14 and a debt-to-equity ratio of 30.05. The company has a market capitalization of C$16.80 billion, a P/E ratio of 15.06, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The stock’s 50-day moving average price is C$26.41 and its 200-day moving average price is C$25.30.

ARC Resources Company Profile

ARC Resources Ltd. engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney basin located in Alberta and northeast British Columbia. ARC Resources Ltd. was founded in 1996 and is based in Calgary, Canada.