Alliance Resource Given New $90.00 Price Target at Cowen and Company (ARLP)
Equities research analysts at Cowen and Company raised their price target on shares of Alliance Resource (NASDAQ:ARLP) from $84.00 to $90.00 in a research note issued to investors on Wednesday, StockRatingsNetwork.com reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s price target indicates a potential upside of 12.30% from the company’s current price.
Separately, analysts at Raymond James downgraded shares of Alliance Resource from a “strong-buy” rating to an “outperform” rating in a research note to investors on Wednesday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $81.10.
Alliance Resource (NASDAQ:ARLP) opened at 80.14 on Wednesday. Alliance Resource has a 52-week low of $59.38 and a 52-week high of $81.00. The stock has a 50-day moving average of $76.26 and a 200-day moving average of $75.60. The company has a market cap of $2.962 billion and a price-to-earnings ratio of 10.68.
Alliance Resource (NASDAQ:ARLP) last announced its earnings results on Monday, January 27th. The company reported $1.85 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.58 by $0.27. The company had revenue of $566.70 million for the quarter, compared to the consensus estimate of $543.94 million. During the same quarter in the prior year, the company posted $1.87 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. On average, analysts predict that Alliance Resource will post $6.98 earnings per share for the current fiscal year.
Alliance Resource Partners, L.P. (NASDAQ:ARLP) is a producer and marketer of coal primarily to the United States utilities and industrial users.
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