UBS Group Boosts ARC Resources (TSE:ARX) Price Target to C$39.00

ARC Resources (TSE:ARX) had its target price increased by equities researchers at UBS Group from C$37.00 to C$39.00 in a note issued to investors on Wednesday,BayStreet.CA reports. UBS Group’s target price would indicate a potential upside of 36.60% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. Jefferies Financial Group increased their target price on ARC Resources from C$27.00 to C$29.00 in a research note on Monday, December 16th. National Bankshares increased their price objective on shares of ARC Resources from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. TD Securities lifted their target price on shares of ARC Resources from C$33.00 to C$34.00 and gave the stock a “buy” rating in a report on Friday, February 7th. CIBC upped their target price on shares of ARC Resources from C$34.00 to C$35.00 in a research note on Friday, January 17th. Finally, BMO Capital Markets raised their price target on shares of ARC Resources from C$30.00 to C$32.00 in a research report on Friday, December 13th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ARC Resources presently has a consensus rating of “Buy” and an average target price of C$32.79.

ARC Resources Price Performance

ARX stock opened at C$28.55 on Wednesday. The company has a debt-to-equity ratio of 30.05, a quick ratio of 0.42 and a current ratio of 1.14. The firm has a market capitalization of C$16.80 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 0.29 and a beta of 1.26. The firm has a 50 day moving average price of C$26.41 and a 200-day moving average price of C$25.30. ARC Resources has a 52-week low of C$21.44 and a 52-week high of C$29.05.

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.