Alpha Natural Resources Given Equal Weight Rating at Morgan Stanley (ANR)
Alpha Natural Resources (NYSE:ANR)‘s stock had its “equal weight” rating restated by investment analysts at Morgan Stanley in a note issued to investors on Monday, AnalystRatingsNetwork.com reports. They currently have a $19.00 price objective on the stock, up from their previous price objective of $13.00. Morgan Stanley’s target price suggests a potential upside of 326.97% from the company’s current price.
Shares of Alpha Natural Resources (NYSE:ANR) traded down 1.98% during mid-day trading on Monday, hitting $4.45. The stock had a trading volume of 8,047,625 shares. Alpha Natural Resources has a 52 week low of $4.12 and a 52 week high of $8.30. The stock’s 50-day moving average is $4.38 and its 200-day moving average is $5.71. The company’s market cap is $985.0 million. Alpha Natural Resources also was the target of a significant growth in short interest during the month of April. As of April 30th, there was short interest totalling 58,941,037 shares, a growth of 5.8% from the April 15th total of 55,713,339 shares. Based on an average trading volume of 15,406,601 shares, the days-to-cover ratio is presently 3.8 days. Approximately 27.2% of the shares of the stock are sold short.
Alpha Natural Resources (NYSE:ANR) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.58) by $0.65. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the company posted ($0.47) earnings per share. The company’s quarterly revenue was down 16.6% on a year-over-year basis. Analysts expect that Alpha Natural Resources will post $-2.75 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays cut their price target on shares of Alpha Natural Resources from $6.00 to $5.00 in a research note on Friday, May 2nd. They now have an “equal weight” rating on the stock. Separately, analysts at Goldman Sachs cut their price target on shares of Alpha Natural Resources from $4.00 to $3.50 in a research note on Monday, April 21st. Finally, analysts at UBS AG downgraded shares of Alpha Natural Resources from a “neutral” rating to a “sell” rating in a research note on Wednesday, April 9th. They now have a $3.00 price target on the stock, down previously from $5.00. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $7.03.
Alpha Natural Resources, Inc (NYSE:ANR) is a supplier and exporter of metallurgical coals for use in the steel-making process and a supplier of thermal coal to electric utilities and manufacturing industries, as well as a exporter of thermal coal.
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