ARC Resources (ARX), the Materials sector company was revisited today, and remains undervalued for at least one analyst on the street. The company received a Buy rating from RBC Capital’s analyst Michael Harvey, with a C$12 price target.
According to TipRanks.com, Harvey is a 3-star analyst with an average return of 0.6% and a 41.5% success rate. Harvey covers the Basic Materials sector, focusing on stocks such as Paramount Resources Ltd, Crescent Point Energy, and Birchcliff Energy Ltd.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for ARC Resources with a C$16.22 average price target, an 84.9% upside from current levels. In a report released today, BMO Capital also reiterated a Buy rating on the stock with a C$11.50 price target.
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ARC Resources’ market cap is currently C$3.1B and has a P/E ratio of 21.8. The company has a Price to Book ratio of 0.87.
ARC Resources Ltd. engages in the exploration, development, and production of crude oil and natural gas. Its projects include Montney operations in northeast British Columbia, and the Pembina Cardium in Alberta. The company was founded by John P. Dielwart and Mac H. van Wielingen in 1996 and is headquartered in Calgary, Canada.
The company’s shares closed on Monday at C$8.77, close to its 52-week low of C$7.38.
