Alliance Resource Partners, L.P. (NASDAQ:ARLP) shares were up 2.8% during mid-day trading on Tuesday . The stock traded as high as $21.78 and last traded at $21.59, with a volume of 116,024 shares traded. The stock had previously closed at $21.00.

Several research analysts have recently commented on ARLP shares. Zacks Investment Research raised Alliance Resource Partners, L.P. from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Tuesday, June 28th. FBR & Co raised their price objective on Alliance Resource Partners, L.P. from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Monday, August 1st. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $22.50.

The stock’s 50 day moving average is $20.25 and its 200 day moving average is $16.23. The firm has a market cap of $1.60 billion, a P/E ratio of 13.37 and a beta of 0.80.

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Alliance Resource Partners, L.P. (NASDAQ:ARLP) last announced its earnings results on Tuesday, July 26th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.27. The business had revenue of $439.20 million for the quarter, compared to analyst estimates of $444.13 million. During the same period in the prior year, the company earned $0.76 earnings per share. The company’s quarterly revenue was down 27.4% on a year-over-year basis. On average, analysts forecast that Alliance Resource Partners, L.P. will post $2.45 earnings per share for the current fiscal year.

In related news, VP Robert J. Fouch sold 17,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $19.34, for a total transaction of $328,780.00. Following the transaction, the vice president now directly owns 33,242 shares of the company’s stock, valued at approximately $642,900.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new stake in Alliance Resource Partners, L.P. during the first quarter valued at $2,312,000. ING Groep NV increased its stake in Alliance Resource Partners, L.P. by 132.6% in the first quarter. ING Groep NV now owns 500,150 shares of the company’s stock valued at $5,817,000 after buying an additional 285,150 shares during the last quarter. State Street Corp increased its stake in Alliance Resource Partners, L.P. by 3.9% in the first quarter. State Street Corp now owns 39,863 shares of the company’s stock valued at $464,000 after buying an additional 1,492 shares during the last quarter. Rafferty Asset Management LLC purchased a new stake in Alliance Resource Partners, L.P. during the first quarter valued at $1,534,000. Finally, Geode Capital Management LLC increased its stake in Alliance Resource Partners, L.P. by 16.6% in the first quarter. Geode Capital Management LLC now owns 68,416 shares of the company’s stock valued at $796,000 after buying an additional 9,756 shares during the last quarter.

About Alliance Resource Partners, L.P.

Alliance Resource Partners, L.P. is a producer and marketer of coal primarily to the United States utilities and industrial users. The Company operates through segments, including Illinois Basin, Appalachia, and Other and Corporate. It operates over 10 underground mining complexes in Illinois, Indiana, Kentucky, Maryland and West Virginia.

5 Day Chart for NASDAQ:ARLP

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