FBR & Co Reaffirms Buy Rating for Arch Coal, Inc. Class A (ARCH)

FBR & Co reiterated their buy rating on shares of Arch Coal, Inc. Class A (NASDAQ:ARCH) in a report issued on Tuesday.

ARCH has been the subject of several other reports. J P Morgan Chase & Co raised Arch Coal, Inc. Class A from a neutral rating to an overweight rating and boosted their price target for the stock from $80.00 to $90.00 in a research report on Thursday, August 31st. Zacks Investment Research lowered Arch Coal, Inc. Class A from a hold rating to a sell rating in a research report on Friday, September 29th. Stifel Nicolaus reissued a buy rating and issued a $92.00 price target on shares of Arch Coal, Inc. Class A in a research report on Friday, July 21st. MKM Partners reissued a buy rating and issued a $98.00 price target (up from $93.00) on shares of Arch Coal, Inc. Class A in a research report on Thursday, August 24th. Finally, Jefferies Group LLC reissued a buy rating on shares of Arch Coal, Inc. Class A in a research report on Thursday, September 21st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $93.00.

Arch Coal, Inc. Class A (NASDAQ ARCH) traded up $0.43 during trading on Tuesday, reaching $79.38. The company’s stock had a trading volume of 349,474 shares.

Arch Coal, Inc. Class A (NASDAQ:ARCH) last released its quarterly earnings results on Tuesday, October 31st. The energy company reported $2.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.96. The company had revenue of $613.53 million during the quarter, compared to the consensus estimate of $550.35 million. The company’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.43) earnings per share.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.76%. The ex-dividend date is Wednesday, November 29th.

Large investors have recently made changes to their positions in the stock. Leucadia National Corp acquired a new position in Arch Coal, Inc. Class A during the 2nd quarter valued at about $526,000. JPMorgan Chase & Co. grew its stake in Arch Coal, Inc. Class A by 11,912.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 228,241 shares of the energy company’s stock valued at $15,588,000 after purchasing an additional 226,341 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Arch Coal, Inc. Class A by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 995,469 shares of the energy company’s stock valued at $67,989,000 after purchasing an additional 22,752 shares during the last quarter. Vanguard Group Inc. grew its stake in Arch Coal, Inc. Class A by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 1,629,260 shares of the energy company’s stock valued at $112,321,000 after purchasing an additional 94,240 shares during the last quarter. Finally, Contrarius Investment Management Ltd grew its stake in Arch Coal, Inc. Class A by 35.9% during the 2nd quarter. Contrarius Investment Management Ltd now owns 789,130 shares of the energy company’s stock valued at $53,898,000 after purchasing an additional 208,487 shares during the last quarter.

About Arch Coal, Inc. Class A

Arch Coal, Inc is a coal producer. The Company is engaged in the production of thermal and metallurgical coal from surface and underground mines located throughout the United States, for sale to utility, industrial and steel producers both in the United States and around the world. The Company operates mining complexes in West Virginia, Kentucky, Maryland, Virginia, Illinois, Wyoming and Colorado.

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