Alliance Resource Partners (ARLP) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Alliance Resource Partners (NASDAQ:ARLP) from a hold rating to a buy rating in a report released on Thursday, Zacks.com reports. Zacks Investment Research currently has $21.00 price target on the energy company’s stock.

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. “

Other equities analysts have also recently issued reports about the company. BidaskClub cut Alliance Resource Partners from a buy rating to a hold rating in a report on Tuesday, April 9th. ValuEngine raised Alliance Resource Partners from a sell rating to a hold rating in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. Alliance Resource Partners currently has a consensus rating of Hold and an average price target of $21.50.

Shares of NASDAQ ARLP traded up $0.14 during trading hours on Thursday, reaching $19.34. 25,938 shares of the stock traded hands, compared to its average volume of 463,300. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 7.93 and a beta of 1.01. The company has a current ratio of 1.51, a quick ratio of 1.33 and a debt-to-equity ratio of 0.48. Alliance Resource Partners has a 52-week low of $15.55 and a 52-week high of $20.99.

Alliance Resource Partners (NASDAQ:ARLP) last announced its quarterly earnings data on Monday, January 28th. The energy company reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.39). The firm had revenue of $531.80 million for the quarter, compared to analysts’ expectations of $538.50 million. Alliance Resource Partners had a net margin of 18.30% and a return on equity of 26.51%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share. On average, analysts forecast that Alliance Resource Partners will post 2.9 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of ARLP. Dividend Assets Capital LLC grew its position in shares of Alliance Resource Partners by 37.2% in the 4th quarter. Dividend Assets Capital LLC now owns 123,510 shares of the energy company’s stock worth $2,142,000 after buying an additional 33,510 shares during the last quarter. FMR LLC grew its position in shares of Alliance Resource Partners by 0.4% in the 3rd quarter. FMR LLC now owns 839,201 shares of the energy company’s stock worth $17,120,000 after buying an additional 3,101 shares during the last quarter. Castleark Management LLC bought a new stake in shares of Alliance Resource Partners in the 4th quarter worth approximately $1,411,000. First Trust Advisors LP bought a new stake in shares of Alliance Resource Partners in the 4th quarter worth approximately $389,000. Finally, Acima Private Wealth LLC bought a new stake in shares of Alliance Resource Partners in the 4th quarter worth approximately $69,000. Institutional investors and hedge funds own 26.60% of the company’s stock.

Alliance Resource Partners Company Profile

Alliance Resource Partners, L.P. produces and markets coal primarily to utilities and industrial users in the United States. The company operates through two segments, Illinois Basin and Appalachia. It produces a range of steam and metallurgical coal with sulfur and heat contents. The company operates eight underground mining complexes in Illinois, Indiana, Kentucky, Maryland, and West Virginia.

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