Stock Traders Purchase Large Volume of Arch Coal Put Options (ACI)
Shares of Arch Coal (NYSE:ACI) was the recipient of unusually large options trading activity on Friday. Investors bought 8,027 put options on the stock, Analyst Ratings.Net reports. This represents an increase of 300% compared to the typical daily volume of 2,006 put options.
Several analysts have recently commented on the stock. Analysts at Macquarie initiated coverage on shares of Arch Coal (NYSE:ACI) in a research note to investors on Friday, September 6th. They set a “neutral” rating on the stock. Separately, analysts at FBR Capital Markets initiated coverage on shares of Arch Coal (NYSE:ACI) in a research note to investors on Wednesday, August 28th. They set an “outperform” rating and a $6.00 price target on the stock. Finally, analysts at Deutsche Bank downgraded shares of Arch Coal (NYSE:ACI) from a “buy” rating to a “hold” rating in a research note to investors on Friday, August 23rd. They now have a $6.50 price target on the stock, up previously from $5.00.
Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. Arch Coal has a consensus rating of “Hold” and a consensus target price of $5.46.
Arch Coal (NYSE:ACI) traded down 3.30% on Friday, hitting $4.69. The stock had a trading volume of 6,627,496 shares. Arch Coal has a 52-week low of $3.47 and a 52-week high of $8.86. The stock’s 50-day moving average is $4.44 and its 200-day moving average is $4.72. The company’s market cap is $995.4 million.
Arch Coal (NYSE:ACI) last announced its earnings results on Tuesday, July 30th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.04. The company had revenue of $768.30 million for the quarter, compared to the consensus estimate of $923.40 million. During the same quarter in the previous year, the company posted ($0.10) earnings per share. The company’s revenue for the quarter was down 20.6% on a year-over-year basis. Analysts expect that Arch Coal will post $-1.27 EPS for the current fiscal year.
Arch Coal, Inc (NYSE:ACI)is the coal producer.
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