ARC Document Solutions, Inc. (NYSE:ARC) issued its earnings results on Tuesday, August 1st. The business services provider reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.02, Bloomberg Earnings reports. ARC Document Solutions had a return on equity of 7.00% and a net margin of 2.72%. The business had revenue of $102.30 million during the quarter, compared to analysts’ expectations of $100.74 million. During the same period in the prior year, the business earned $0.10 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. ARC Document Solutions updated its FY17 guidance to $0.24-0.29 EPS.
ARC Document Solutions (ARC) traded down 2.22% on Friday, hitting $3.53. The stock had a trading volume of 110,868 shares. The firm’s 50-day moving average is $3.88 and its 200-day moving average is $3.91. ARC Document Solutions has a 52-week low of $3.08 and a 52-week high of $5.55. The company has a market cap of $163.93 million, a P/E ratio of 14.83 and a beta of 2.50.
Several hedge funds have recently bought and sold shares of the company. Blair William & Co. IL boosted its stake in ARC Document Solutions by 1.8% in the first quarter. Blair William & Co. IL now owns 28,516 shares of the business services provider’s stock worth $115,000 after buying an additional 500 shares during the period. Eagle Global Advisors LLC purchased a new stake in ARC Document Solutions during the first quarter worth approximately $127,000. Perkins Capital Management Inc. boosted its stake in ARC Document Solutions by 47.2% in the first quarter. Perkins Capital Management Inc. now owns 43,416 shares of the business services provider’s stock worth $150,000 after buying an additional 13,916 shares during the period. The Manufacturers Life Insurance Company boosted its stake in ARC Document Solutions by 10.0% in the second quarter. The Manufacturers Life Insurance Company now owns 38,025 shares of the business services provider’s stock worth $158,000 after buying an additional 3,446 shares during the period. Finally, TFS Capital LLC boosted its stake in ARC Document Solutions by 322.4% in the first quarter. TFS Capital LLC now owns 51,694 shares of the business services provider’s stock worth $178,000 after buying an additional 39,455 shares during the period. Institutional investors and hedge funds own 70.96% of the company’s stock.
Several brokerages have weighed in on ARC. B. Riley reiterated a “buy” rating and issued a $5.00 target price on shares of ARC Document Solutions in a report on Monday, May 8th. TheStreet upgraded ARC Document Solutions from a “d+” rating to a “c” rating in a report on Tuesday, August 1st. Finally, Raymond James Financial, Inc. upgraded ARC Document Solutions from an “outperform” rating to a “strong-buy” rating in a report on Thursday, July 6th.
About ARC Document Solutions
ARC Document Solutions, Inc (ARC) is a document solutions provider for the architectural, engineering and construction (AEC) industry. The Company also provides document solutions to businesses of various types. ARC’s offerings include managed print services (MPS), offsite services, archive and information management (AIM), specialized color printing, Web-based document management applications, digital shipping/managed file transfer, and equipment and supplies sales.
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