Alliance Resource Partners (NASDAQ:ARLP) Stock Rating Lowered by B. Riley

B. Riley cut shares of Alliance Resource Partners (NASDAQ:ARLP) from a buy rating to a neutral rating in a research note released on Wednesday, BenzingaRatingsTable reports. The brokerage currently has $20.00 target price on the energy company’s stock, down from their prior target price of $22.00. B. Riley also issued estimates for Alliance Resource Partners’ Q2 2019 earnings at $0.54 EPS, Q3 2019 earnings at $0.62 EPS and FY2020 earnings at $1.51 EPS.

A number of other equities analysts also recently issued reports on the company. ValuEngine downgraded Verso from a hold rating to a sell rating in a report on Thursday, May 23rd. Zacks Investment Research downgraded EXACT Sciences from a hold rating to a sell rating in a report on Tuesday, July 2nd. Clarkson Capital initiated coverage on Alliance Resource Partners in a report on Tuesday, July 9th. They issued a buy rating and a $20.00 price target for the company. Finally, BidaskClub downgraded Ames National from a hold rating to a sell rating in a report on Wednesday. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $20.33.

Shares of ARLP opened at $16.96 on Wednesday. The company has a 50 day simple moving average of $17.27. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.94 and a quick ratio of 0.70. The firm has a market capitalization of $2.18 billion, a P/E ratio of 5.83 and a beta of 0.92. Alliance Resource Partners has a 52-week low of $16.50 and a 52-week high of $20.99.

Alliance Resource Partners (NASDAQ:ARLP) last announced its quarterly earnings results on Monday, April 29th. The energy company reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.34. The firm had revenue of $526.60 million during the quarter, compared to the consensus estimate of $523.00 million. Alliance Resource Partners had a return on equity of 30.52% and a net margin of 23.51%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 earnings per share. On average, equities research analysts predict that Alliance Resource Partners will post 3.1 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Magnolia Group LLC boosted its holdings in shares of Alliance Resource Partners by 5.0% in the first quarter. Magnolia Group LLC now owns 2,603,108 shares of the energy company’s stock valued at $52,999,000 after acquiring an additional 124,588 shares during the period. Foundry Partners LLC boosted its holdings in shares of Alliance Resource Partners by 11.0% in the second quarter. Foundry Partners LLC now owns 389,237 shares of the energy company’s stock valued at $6,609,000 after acquiring an additional 38,480 shares during the period. Hartz Capital Inc. acquired a new stake in shares of Alliance Resource Partners in the first quarter valued at approximately $7,919,000. Adams Asset Advisors LLC boosted its holdings in shares of Alliance Resource Partners by 0.8% in the second quarter. Adams Asset Advisors LLC now owns 368,593 shares of the energy company’s stock valued at $6,258,000 after acquiring an additional 3,072 shares during the period. Finally, Bank of Montreal Can boosted its holdings in shares of Alliance Resource Partners by 150.3% in the first quarter. Bank of Montreal Can now owns 270,423 shares of the energy company’s stock valued at $5,506,000 after acquiring an additional 162,365 shares during the period. 25.00% of the stock is owned by institutional investors and hedge funds.

About Alliance Resource Partners

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.

Featured Story: Why do commodities matter?

Receive News & Ratings for Alliance Resource Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alliance Resource Partners and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit