Alliance Resource Partners (NASDAQ:ARLP) Downgraded by BidaskClub

BidaskClub downgraded shares of Alliance Resource Partners (NASDAQ:ARLP) from a hold rating to a sell rating in a research note issued to investors on Wednesday, BidAskClub reports.

Several other research firms have also issued reports on ARLP. Zacks Investment Research lowered EXACT Sciences from a hold rating to a sell rating in a research note on Tuesday, July 2nd. ValuEngine lowered Verso from a hold rating to a sell rating in a research note on Thursday, May 23rd. Finally, Clarkson Capital began coverage on Alliance Resource Partners in a research note on Tuesday, July 9th. They set a buy rating and a $20.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $20.33.

ARLP opened at $16.96 on Wednesday. The business’s 50-day moving average price is $17.27. Alliance Resource Partners has a 12-month low of $16.50 and a 12-month high of $20.99. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.32. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 6.95 and a beta of 0.92.

Alliance Resource Partners (NASDAQ:ARLP) last posted its earnings results on Monday, April 29th. The energy company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.34. Alliance Resource Partners had a return on equity of 30.52% and a net margin of 23.51%. The firm had revenue of $526.60 million for the quarter, compared to analyst estimates of $523.00 million. During the same quarter in the prior year, the company earned $1.16 EPS. Alliance Resource Partners’s revenue was up 15.2% on a year-over-year basis. On average, research analysts anticipate that Alliance Resource Partners will post 3.1 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of ARLP. First Trust Advisors LP acquired a new stake in Alliance Resource Partners in the 4th quarter valued at about $389,000. Commonwealth Equity Services LLC raised its position in Alliance Resource Partners by 26.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 40,705 shares of the energy company’s stock valued at $705,000 after purchasing an additional 8,442 shares in the last quarter. Geode Capital Management LLC raised its position in Alliance Resource Partners by 12.1% in the 4th quarter. Geode Capital Management LLC now owns 140,989 shares of the energy company’s stock valued at $2,444,000 after purchasing an additional 15,219 shares in the last quarter. Barclays PLC raised its position in Alliance Resource Partners by 78.4% in the 4th quarter. Barclays PLC now owns 56,803 shares of the energy company’s stock valued at $985,000 after purchasing an additional 24,954 shares in the last quarter. Finally, Edge Capital Group LLC acquired a new stake in Alliance Resource Partners in the 4th quarter valued at about $1,128,000. 25.00% of the stock is currently owned by institutional investors.

Alliance Resource Partners Company Profile

Alliance Resource Partners, L.P. produces and markets coal primarily to utilities and industrial users in the United States. The company operates through two segments, Illinois Basin and Appalachia. It produces a range of steam and metallurgical coal with sulfur and heat contents. The company operates eight underground mining complexes in Illinois, Indiana, Kentucky, Maryland, and West Virginia.

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