Equities researchers at StockNews.com began coverage on shares of ARC Document Solutions (NYSE:ARC – Get Free Report) in a report issued on Saturday. The brokerage set a “strong-buy” rating on the business services provider’s stock.
Separately, Singular Research raised shares of ARC Document Solutions to a “strong-buy” rating in a research note on Wednesday, August 21st.
Check Out Our Latest Stock Analysis on ARC Document Solutions
ARC Document Solutions Stock Up 0.3 %
ARC Document Solutions (NYSE:ARC – Get Free Report) last issued its earnings results on Wednesday, August 7th. The business services provider reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. ARC Document Solutions had a return on equity of 7.29% and a net margin of 2.76%. The company had revenue of $75.11 million for the quarter, compared to analyst estimates of $72.60 million. On average, research analysts expect that ARC Document Solutions will post 0.23 earnings per share for the current fiscal year.
Institutional Investors Weigh In On ARC Document Solutions
A number of institutional investors and hedge funds have recently bought and sold shares of ARC. Mackenzie Financial Corp boosted its stake in shares of ARC Document Solutions by 15.1% in the 2nd quarter. Mackenzie Financial Corp now owns 34,496 shares of the business services provider’s stock worth $91,000 after buying an additional 4,519 shares during the last quarter. Ritholtz Wealth Management boosted its position in ARC Document Solutions by 16.3% in the second quarter. Ritholtz Wealth Management now owns 55,586 shares of the business services provider’s stock worth $147,000 after purchasing an additional 7,805 shares during the last quarter. Heron Bay Capital Management grew its stake in ARC Document Solutions by 29.6% in the 1st quarter. Heron Bay Capital Management now owns 60,601 shares of the business services provider’s stock valued at $168,000 after purchasing an additional 13,837 shares during the period. Redhawk Wealth Advisors Inc. increased its position in shares of ARC Document Solutions by 80.7% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 72,752 shares of the business services provider’s stock valued at $192,000 after purchasing an additional 32,487 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its stake in shares of ARC Document Solutions by 28.0% during the 1st quarter. First Eagle Investment Management LLC now owns 134,965 shares of the business services provider’s stock worth $374,000 after purchasing an additional 29,500 shares during the period. 48.93% of the stock is owned by hedge funds and other institutional investors.
About ARC Document Solutions
ARC Document Solutions, Inc, a digital printing company, provides digital printing and document-related services in the United States. It provides managed print services, that places, manages, and optimizes print and imaging equipment in customers' offices, job sites, and other facilities; and cloud-based document management software and other digital hosting services.
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