National Bankshares Forecasts Strong Price Appreciation for ARC Resources (TSE:ARX) Stock

ARC Resources (TSE:ARX) had its target price increased by research analysts at National Bankshares from C$31.00 to C$32.00 in a note issued to investors on Thursday,BayStreet.CA reports. National Bankshares’ target price points to a potential upside of 28.72% from the company’s current price.

ARX has been the subject of a number of other reports. CIBC upped their target price on shares of ARC Resources from C$31.00 to C$34.00 in a report on Monday, July 15th. Cormark upgraded ARC Resources to a “moderate buy” rating in a research note on Monday, September 23rd. UBS Group lowered their target price on ARC Resources from C$33.00 to C$32.00 in a research report on Wednesday, July 10th. Canaccord Genuity Group upped 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. Finally, Scotiabank lifted their price objective on ARC Resources from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ARC Resources presently has an average rating of “Buy” and a consensus target price of C$30.96.

ARC Resources Trading Down 0.8 %

ARC Resources stock opened at C$24.86 on Thursday. ARC Resources has a 52-week low of C$19.02 and a 52-week high of C$26.45. The company has a market cap of C$14.82 billion, a P/E ratio of 12.88, a P/E/G ratio of 0.29 and a beta of 1.26. The company has a quick ratio of 0.42, a current ratio of 0.88 and a debt-to-equity ratio of 31.49. The business has a 50-day simple moving average of C$23.74 and a two-hundred day simple moving average of C$24.40.

About ARC Resources

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.