ARC Document Solutions (NYSE:ARC) issued its quarterly earnings results on Tuesday, February 27th. The business services provider reported $0.02 EPS for the quarter, Briefing.com reports. The company had revenue of $97.10 million for the quarter, compared to analyst estimates of $95.32 million. ARC Document Solutions had a positive return on equity of 4.45% and a negative net margin of 5.45%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.06 earnings per share. ARC Document Solutions updated its FY18 guidance to $0.10-0.16 EPS.
ARC Document Solutions (NYSE:ARC) traded up $0.01 on Wednesday, reaching $2.41. The company had a trading volume of 209,815 shares, compared to its average volume of 182,452. ARC Document Solutions has a fifty-two week low of $2.09 and a fifty-two week high of $4.84. The company has a market capitalization of $107.73, a price-to-earnings ratio of 15.87 and a beta of 2.30. The company has a quick ratio of 1.26, a current ratio of 1.53 and a debt-to-equity ratio of 0.90.
Several analysts recently issued reports on ARC shares. Zacks Investment Research upgraded ARC Document Solutions from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a report on Wednesday, March 7th. TheStreet lowered ARC Document Solutions from a “c-” rating to a “d+” rating in a report on Friday, November 17th. Four research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $4.00.
In related news, Director Mark W. Mealy sold 22,000 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $2.71, for a total transaction of $59,620.00. Following the sale, the director now owns 116,538 shares in the company, valued at $315,817.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 14.93% of the company’s stock.
An institutional investor recently raised its position in ARC Document Solutions stock. The Manufacturers Life Insurance Company grew its position in ARC Document Solutions Inc (NYSE:ARC) by 10.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,025 shares of the business services provider’s stock after purchasing an additional 3,446 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of ARC Document Solutions worth $158,000 as of its most recent SEC filing. 70.85% of the stock is currently owned by hedge funds and other institutional investors.
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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