Alliance Resource Partners, L.P. (ARLP) Stock Rating Upgraded by Zacks Investment Research
Alliance Resource Partners, L.P. (NASDAQ:ARLP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage currently has a $25.00 price objective on the stock. Zacks Investment Research’s price objective points to a potential upside of 10.33% from the company’s previous close.
According to Zacks, “ALLIANCE RESOURCES is a diversified producer and marketer of coal to major U.S. utilities and industrial users. They currently operate mining complexes in Illinois, Indiana, Kentucky and Maryland. Some of their mining complexes are underground and one has both surface and underground mines. They produce a diverse range of steam coals with varying sulfur and heat contents, which enable them to satisfy the broad range of specifications demanded by their customers. “
Separately, FBR & Co upped their price target on shares of Alliance Resource Partners, L.P. from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, August 1st. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $23.00.
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Alliance Resource Partners, L.P. (NASDAQ:ARLP) traded up 0.31% during midday trading on Tuesday, reaching $22.67. The company’s stock had a trading volume of 315,375 shares. The stock’s 50 day moving average price is $21.27 and its 200-day moving average price is $17.19. Alliance Resource Partners, L.P. has a one year low of $9.95 and a one year high of $23.52. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 14.12 and a beta of 0.80.
Alliance Resource Partners, L.P. (NASDAQ:ARLP) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.27. The company had revenue of $439.20 million for the quarter, compared to analysts’ expectations of $444.13 million. Alliance Resource Partners, L.P.’s quarterly revenue was down 27.4% compared to the same quarter last year. During the same period last year, the firm earned $0.76 earnings per share. On average, analysts forecast that Alliance Resource Partners, L.P. will post $2.45 EPS 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 shares were sold at an average price of $19.34, for a total transaction of $328,780.00. Following the completion of the transaction, the vice president now owns 33,242 shares in the company, valued at approximately $642,900.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
A number of hedge funds have recently added to or reduced their stakes in ARLP. Energy Income Partners LLC increased its stake in Alliance Resource Partners, L.P. by 13.2% in the first quarter. Energy Income Partners LLC now owns 5,208,568 shares of the company’s stock worth $60,680,000 after buying an additional 605,331 shares during the last quarter. Rafferty Asset Management LLC acquired a new stake in Alliance Resource Partners, L.P. during the first quarter worth approximately $1,534,000. 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 worth $464,000 after buying an additional 1,492 shares during the last quarter. Lucus Advisors LLC acquired a new stake in Alliance Resource Partners, L.P. during the second quarter worth approximately $343,000. Finally, Babson Capital Management LLC increased its stake in Alliance Resource Partners, L.P. by 121.0% in the first quarter. Babson Capital Management LLC now owns 89,864 shares of the company’s stock worth $1,047,000 after buying an additional 49,200 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.
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