National Bankshares Boosts ARC Resources (TSE:ARX) Price Target to C$32.00

ARC Resources (TSE:ARX - Get Free Report) had its price target lifted by National Bankshares from C$31.00 to C$32.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. National Bankshares' price target points to a potential upside of 29.08% from the stock's current price.

A number of other research analysts also recently weighed in on the company. Canaccord Genuity Group raised their price target on ARC Resources from C$27.00 to C$29.00 and gave the stock a "strong-buy" rating in a research report on Friday, August 2nd. UBS Group reduced their target price on ARC Resources from C$33.00 to C$32.00 in a report on Wednesday, July 10th. Desjardins upped their price target on ARC Resources from C$30.00 to C$31.50 and gave the company a "buy" rating in a research note on Tuesday, July 23rd. CIBC boosted their price objective on shares of ARC Resources from C$31.00 to C$34.00 in a report on Monday, July 15th. Finally, Scotiabank lifted their price target on shares of ARC Resources from C$34.00 to C$35.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of C$30.96.

ARC Resources Trading Up 7.4 %

Shares of ARX traded up C$1.71 on Thursday, reaching C$24.79. 2,848,471 shares of the company's stock were exchanged, compared to its average volume of 2,024,842. The business has a 50 day moving average price of C$23.75 and a two-hundred day moving average price of C$24.40. ARC Resources has a 12 month low of C$19.02 and a 12 month high of C$26.45. The stock has a market capitalization of C$14.78 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 31.49.

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.

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