ARC Resources (TSE:ARX) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

ARC Resources (TSE:ARX) had its price target boosted by analysts at Canaccord Genuity Group from C$29.00 to C$31.00 in a research note issued on Thursday,BayStreet.CA reports. Canaccord Genuity Group’s target price would suggest a potential upside of 24.70% from the stock’s previous close.

Other analysts have also recently issued reports about the company. CIBC boosted their price objective on ARC Resources from C$31.00 to C$34.00 in a research report on Monday, July 15th. Scotiabank boosted 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 report on Wednesday, October 16th. UBS Group decreased their price objective on shares of ARC Resources from C$33.00 to C$32.00 in a report on Wednesday, July 10th. Jefferies Financial Group cut their target price on shares of ARC Resources from C$30.00 to C$27.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Finally, Desjardins raised their price target on shares of 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. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$30.96.

ARC Resources Price Performance

Shares of ARC Resources stock opened at C$24.86 on Thursday. The firm has a market cap of C$14.82 billion, a PE ratio of 12.88, a P/E/G ratio of 0.29 and a beta of 1.26. ARC Resources has a twelve month low of C$19.02 and a twelve month high of C$26.45. 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 moving average price of C$23.74 and a 200 day moving average price of C$24.40.

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.