Walter Energy Stock Rating Upgraded by Goldman Sachs Group Inc. (WLT)
Walter Energy (NYSE:WLT) was upgraded by Goldman Sachs Group Inc. from a “sell” rating to a “neutral” rating in a research note issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $15.00 target price on the stock, up from their previous target price of $10.00. Goldman Sachs Group Inc.’s target price would indicate a potential upside of 3.09% from the company’s current price.
The analysts wrote, “After underperforming the S&P500 over the last two years, we upgrade WLT from Sell to Neutral. Since being added to the Americas Sell list on August 11, 2011, WLT returned -82% versus other US coal stocks of -38% and the S&P500 +45%.”
Walter Energy (NYSE:WLT) traded up 0.21% during mid-day trading on Friday, hitting $14.58. 3,037,281 shares of the company’s stock traded hands. Walter Energy has a one year low of $9.88 and a one year high of $41.32. The stock’s 50-day moving average is $13. and its 200-day moving average is $16.5. The company’s market cap is $912.4 million.
Walter Energy (NYSE:WLT) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.55) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.75) by $0.20. The company had revenue of $441.50 million for the quarter, compared to the consensus estimate of $472.88 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. The company’s quarterly revenue was down 34.8% on a year-over-year basis.
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Walter Energy (NYSE:WLT) in a research note to investors on Thursday. Separately, analysts at Zacks reiterated a “hold” rating on shares of Walter Energy (NYSE:WLT) in a research note to investors on Monday. They now have a $11.00 price target on the stock. Finally, analysts at RBC Capital cut their price target on shares of Walter Energy (NYSE:WLT) from $18.00 to $16.00 in a research note to investors on Monday. They now have a “sector perform” rating on the stock. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $27.00.
Walter Energy, Inc, is a producer and exporter of metallurgical coals for the global steel industry. The Company also produces thermal coal and industrial coal, anthracite, metallurgical coke, coal bed methane gas (NYSE:WLT) and other related products.
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