Arch Coal (ARCH) Reaches New 52-Week High at $88.50

Shares of Arch Coal Inc. (NYSE:ARCH) reached a new 52-week high on Tuesday . The stock traded as high as $88.50 and last traded at $87.99, with a volume of 277000 shares trading hands. The stock had previously closed at $86.86.

ARCH has been the subject of several recent research reports. MKM Partners reiterated a “buy” rating and set a $98.00 target price (up previously from $93.00) on shares of Arch Coal in a research note on Thursday, August 24th. Stifel Nicolaus set a $92.00 target price on shares of Arch Coal and gave the company a “buy” rating in a research note on Friday, August 25th. J P Morgan Chase & Co upgraded shares of Arch Coal from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $80.00 to $90.00 in a research note on Thursday, August 31st. Macquarie initiated coverage on shares of Arch Coal in a research note on Thursday, September 7th. They set a “neutral” rating and a $84.00 target price for the company. Finally, FBR & Co reiterated a “buy” rating on shares of Arch Coal in a research note on Tuesday, September 19th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Arch Coal currently has an average rating of “Buy” and a consensus target price of $93.00.

The company has a quick ratio of 2.40, a current ratio of 2.79 and a debt-to-equity ratio of 0.46.

Arch Coal (NYSE:ARCH) last released its quarterly earnings results on Tuesday, October 31st. The energy company reported $2.54 EPS for the quarter, topping the consensus estimate of $1.58 by $0.96. The firm had revenue of $613.53 million for the quarter, compared to the consensus estimate of $550.35 million. The firm’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.43) EPS. sell-side analysts forecast that Arch Coal Inc. will post 9.62 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, November 29th. This represents a $1.40 annualized dividend and a dividend yield of 1.58%.

In other news, major shareholder Monarch Alternative Capital Lp sold 500,000 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $85.26, for a total transaction of $42,630,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James N. Chapman sold 1,002 shares of the company’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $80.99, for a total transaction of $81,151.98. Following the transaction, the director now owns 2,226 shares of the company’s stock, valued at approximately $180,283.74. The disclosure for this sale can be found here. 1.34% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Arch Coal by 10.5% in the second quarter. Vanguard Group Inc. now owns 1,801,011 shares of the energy company’s stock worth $123,010,000 after purchasing an additional 171,751 shares during the period. BlackRock Inc. lifted its holdings in Arch Coal by 242.4% in the second quarter. BlackRock Inc. now owns 1,415,537 shares of the energy company’s stock worth $96,680,000 after purchasing an additional 1,002,176 shares during the period. Davidson Kempner Capital Management LP lifted its holdings in Arch Coal by 51.2% in the second quarter. Davidson Kempner Capital Management LP now owns 999,951 shares of the energy company’s stock worth $68,297,000 after purchasing an additional 338,500 shares during the period. Bank of New York Mellon Corp lifted its holdings in Arch Coal by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 995,469 shares of the energy company’s stock worth $67,989,000 after purchasing an additional 22,752 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Arch Coal by 25.1% in the second quarter. Ameriprise Financial Inc. now owns 812,195 shares of the energy company’s stock worth $55,674,000 after purchasing an additional 162,743 shares during the period. Institutional investors and hedge funds own 37.04% of the company’s stock.

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Arch Coal Company Profile

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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