Atlas Resource Partners, L.P. Stock Rating Lowered by Robert W. Baird (ARP)
Atlas Resource Partners, L.P. (NYSE:ARP) was downgraded by equities research analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. They currently have a $22.00 price objective on the stock, down from their previous price objective of $26.00. Robert W. Baird’s price target would indicate a potential upside of 4.86% from the stock’s previous close.
The analysts wrote, “We input these reduced projections as well as updated Treasury rates into our now more conservative valuation framework. As a result, we lower our ARP price target to $22 and lower our rating to Neutral amid heightened uncertainty.”
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Atlas Resource Partners, L.P. from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, September 10th. They now have a $21.30 price target on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $24.55.
Shares of Atlas Resource Partners, L.P. (NYSE:ARP) traded down 2.41% during mid-day trading on Thursday, hitting $20.4752. 619,138 shares of the company’s stock traded hands. Atlas Resource Partners, L.P. has a one year low of $18.30 and a one year high of $26.50. The stock’s 50-day moving average is $21.00 and its 200-day moving average is $22.27. The company’s market cap is $1.217 billion.
Atlas Resource Partners, L.P. (NYSE:ARP) last announced its earnings results on Thursday, August 8th. The company reported ($0.20) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.11 by $0.31. The company had revenue of $83.33 million for the quarter, compared to the consensus estimate of $100.48 million. Analysts expect that Atlas Resource Partners, L.P. will post $0.41 EPS for the current fiscal year.
Atlas Resource Partners, L.P. (NYSE:ARP) is a limited partnership and independent developer and producer of natural gas and oil, with operations in the Appalachian Basin, Illinois Basin and the Rocky Mountain region.
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