Alliance Holdings GP, L.P.’s Strong-Buy Rating Reaffirmed at Raymond James (AHGP)
Alliance Holdings GP, L.P. (NASDAQ:AHGP)‘s stock had its “strong-buy” rating restated by analysts at Raymond James in a research report issued to clients and investors on Tuesday. They currently have a $79.00 target price on the stock, up from their previous target price of $77.00. Raymond James’ target price would suggest a potential upside of 9.72% from the company’s current price.
Shares of Alliance Holdings GP, L.P. (NASDAQ:AHGP) traded up 2.81% on Tuesday, hitting $72.00. The stock had a trading volume of 36,772 shares. Alliance Holdings GP, L.P. has a one year low of $51.70 and a one year high of $73.27. The stock’s 50-day moving average is $65.6 and its 200-day moving average is $63.02. The company has a market cap of $4.310 billion and a price-to-earnings ratio of 17.37.
Alliance Holdings GP, L.P. (NASDAQ:AHGP) last posted its quarterly earnings results on Monday, July 28th. The company reported $1.29 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.05 by $0.24. The company had revenue of $598.46 million for the quarter, compared to the consensus estimate of $577.66 million. During the same quarter in the prior year, the company posted $1.02 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. Analysts expect that Alliance Holdings GP, L.P. will post $4.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, August 19th. Investors of record on Tuesday, August 12th will be given a dividend of $0.8475 per share. This represents a $3.39 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend is Friday, August 8th.
Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of Alliance Holdings GP, L.P. from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 1st. They now have a $70.50 price target on the stock.
Alliance Holdings GP, L.P. (NASDAQ:AHGP) owns, directly and indirectly, 100% of the members’ interest in Alliance Resource Management GP, LLC (MGP), the managing general partner of Alliance Resource Partners, L.
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