Arch Coal Target of Unusually High Options Trading (ACI)
Arch Coal (NYSE:ACI) was the target of some unusual options trading on Wednesday. Stock traders acquired 7,560 put options on the company, AnalystRatings.NET reports. This represents an increase of approximately 325% compared to the typical volume of 1,778 put options.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley downgraded shares of Arch Coal from an “equal weight” rating to an “underweight” rating in a research note to investors on Wednesday. Separately, analysts at Goldman Sachs Group Inc. downgraded shares of Arch Coal from a “neutral” rating to a “sell” rating in a research note to investors on Friday, September 27th. They now have a $3.00 price target on the stock, down previously from $4.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Arch Coal in a research note to investors on Thursday, September 26th. They now have a $4.75 price target on the stock. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. Arch Coal presently has an average rating of “Hold” and an average price target of $5.33.
Shares of Arch Coal (NYSE:ACI) traded down 5.10% on Wednesday, hitting $3.91. 13,924,141 shares of the company’s stock traded hands. 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. and its 200-day moving average is $4.54. The company’s market cap is $829.9 million.
Arch Coal (NYSE:ACI) last released its earnings data 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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