Alliance Resource Receives Buy Rating from Citigroup Inc. (ARLP)
Alliance Resource (NASDAQ:ARLP)‘s stock had its “buy” rating restated by Citigroup Inc. in a research note issued on Tuesday, AR Network reports. They currently have a $100.00 target price on the stock. Citigroup Inc.’s price objective indicates a potential upside of 11.09% from the stock’s previous close.
ARLP has been the subject of a number of other recent research reports. Analysts at Cowen and Company raised their price target on shares of Alliance Resource from $90.00 to $100.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Finally, analysts at Raymond James downgraded shares of Alliance Resource from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, January 29th. They now have a $84.00 price target on the stock. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Alliance Resource has an average rating of “Hold” and a consensus target price of $86.92.
Shares of Alliance Resource (NASDAQ:ARLP) traded up 2.34% on Tuesday, hitting $92.13. The stock had a trading volume of 62,789 shares. Alliance Resource has a one year low of $64.22 and a one year high of $90.83. The stock’s 50-day moving average is $84.00 and its 200-day moving average is $79.18. The company has a market cap of $3.412 billion and a price-to-earnings ratio of 12.39.
Alliance Resource (NASDAQ:ARLP) last released its earnings data on Monday, April 28th. The company reported $2.20 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.73 by $0.47. The company had revenue of $542.04 million for the quarter, compared to the consensus estimate of $552.34 million. During the same quarter in the prior year, the company posted $1.95 earnings per share. The company’s quarterly revenue was down 1.1% on a year-over-year basis. On average, analysts predict that Alliance Resource will post $7.33 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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