Atlas Resource Partners, L.P. Rating Lowered to Underperform at Zacks (ARP)
Atlas Resource Partners, L.P. (NYSE:ARP) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a note issued to investors on Monday, Analyst RN reports. They currently have a $19.70 price objective on the stock. Zacks‘ target price points to a potential downside of 5.06% from the company’s current price.
Atlas Resource Partners, L.P. (NYSE:ARP) traded down 1.20% during mid-day trading on Monday, hitting $20.50. The stock had a trading volume of 365,178 shares. Atlas Resource Partners, L.P. has a 52-week low of $18.30 and a 52-week high of $26.50. The stock’s 50-day moving average is $21.00 and its 200-day moving average is $22.23. The company’s market cap is $1.218 billion.
Atlas Resource Partners, L.P. (NYSE:ARP) last released its earnings data on Thursday, August 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the 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. On average, analysts predict that Atlas Resource Partners, L.P. will post $0.41 earnings per share for the current fiscal year.
ARP has been the subject of a number of other recent research reports. Analysts at MLV Capital cut their price target on shares of Atlas Resource Partners, L.P. from $28.00 to $25.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Analysts at Robert W. Baird downgraded shares of Atlas Resource Partners, L.P. from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $22.00 price target on the stock, down previously from $26.00. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $24.12.
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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