Alpha Natural Resources Stock Rating Upgraded by Goldman Sachs Group Inc. (ANR)
Alpha Natural Resources (NYSE:ANR) was upgraded by equities research analysts at Goldman Sachs Group Inc. from a “sell” rating to a “neutral” rating in a research note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm currently has a $6.00 price objective on the stock, up from their previous price objective of $4.00. Goldman Sachs Group Inc.’s price target points to a potential downside of 4.31% from the company’s current price.
The analysts wrote, “We transfer coverage of Alpha Natural Resource (ANR) and raise our rating from Sell to Neutral as met coal prices likely bottomed. We prefer ACI as a Sell, a more diversified coal name, which faces headwinds from both met and thermal segments of the business – and also trades at higher EV/EBITDA multiples on long-term earnings. We raise our 6-month EV/EBITDA-based price target from $4 to $6 based on higher EBITDA reflecting higher cash margins than before and lower net debt. Since adding ANR to the Americas Sell list on May 6, 2013, the stock returned -14% versus the S&P500 +5% and our coal stocks of -10%. In the last 12 months, ANR returned -10% versus the S&P500 of +17% and other coal stocks -19%.”
A number of other analysts have also recently weighed in on ANR. Analysts at Howard Weil raised their price target on shares of Alpha Natural Resources (NYSE:ANR) from $7.00 to $8.00 in a research note to investors on Thursday, September 19th. They now have a “sector outperform” rating on the stock. Separately, analysts at Macquarie initiated coverage on shares of Alpha Natural Resources (NYSE:ANR) in a research note to investors on Friday, September 6th. They set an “underperform” rating on the stock. Finally, analysts at Jefferies Group cut their price target on shares of Alpha Natural Resources (NYSE:ANR) from $13.00 to $8.00 in a research note to investors on Monday, August 5th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $7.82.
Shares of Alpha Natural Resources (NYSE:ANR) traded down 2.07% on Friday, hitting $6.14. 6,063,036 shares of the company’s stock traded hands. Alpha Natural Resources has a 52-week low of $4.78 and a 52-week high of $10.74. The stock’s 50-day moving average is $6.19 and its 200-day moving average is $6.53. The company’s market cap is $1.357 billion.
Alpha Natural Resources (NYSE:ANR) last announced its earnings results on Friday, August 2nd. The company reported ($0.59) earnings per share for the quarter, meeting the analysts’ consensus estimate of ($0.59). The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the company posted ($0.33) earnings per share. Alpha Natural Resources’s revenue was down 27.8% compared to the same quarter last year. On average, analysts predict that Alpha Natural Resources will post $-2.50 earnings per share for the current fiscal year.
Alpha Natural Resources, Inc (NYSE:ANR) is a supplier and exporter of metallurgical coals for use in the steel-making process and a supplier of thermal coal to electric utilities and manufacturing industries, as well as a exporter of thermal coal.
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