Arch Coal (NYSE:ARCH) Lowered to “Hold” at Zacks Investment Research

Arch Coal (NYSE:ARCH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “Arch Coal, Inc. is a natural resource company. It produces metallurgical and thermal coal, used to manufacture steel and generate electricity. The company operates primarily in Alabama, Indiana, Washington, Arkansas, California, Utah and Texas. Arch Coal, Inc. is headquartered in St. Louis, Missouri. “

Other research analysts also recently issued research reports about the stock. TheStreet downgraded shares of Arch Coal from a “b” rating to a “c+” rating in a research report on Wednesday, May 29th. ValuEngine downgraded shares of Arch Coal from a “sell” rating to a “strong sell” rating in a research report on Thursday. Finally, BMO Capital Markets lifted their price objective on shares of Arch Coal to $115.00 and gave the company a “market perform” rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $113.80.

Shares of ARCH stock traded down $1.10 during trading hours on Monday, hitting $77.19. 400,124 shares of the company were exchanged, compared to its average volume of 250,913. The stock has a market cap of $1.27 billion, a P/E ratio of 5.10 and a beta of 0.30. Arch Coal has a 52 week low of $75.25 and a 52 week high of $101.92. The company has a 50 day moving average of $90.10. The company has a quick ratio of 2.12, a current ratio of 2.67 and a debt-to-equity ratio of 0.42.

Arch Coal (NYSE:ARCH) last released its earnings results on Wednesday, July 24th. The energy company reported $3.53 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.30. The business had revenue of $570.22 million during the quarter, compared to the consensus estimate of $558.75 million. Arch Coal had a net margin of 14.31% and a return on equity of 48.65%. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.06 earnings per share. As a group, sell-side analysts forecast that Arch Coal will post 17.75 earnings per share for the current fiscal year.

In related news, Director Holly K. Koeppel purchased 2,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average cost of $89.02 per share, with a total value of $195,844.00. Following the acquisition, the director now owns 2,200 shares of the company’s stock, valued at approximately $195,844. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.63% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. LSV Asset Management grew its holdings in Arch Coal by 411.6% during the 1st quarter. LSV Asset Management now owns 484,622 shares of the energy company’s stock worth $44,231,000 after acquiring an additional 389,902 shares during the last quarter. Packer & Co Ltd grew its holdings in Arch Coal by 59.4% during the 2nd quarter. Packer & Co Ltd now owns 963,346 shares of the energy company’s stock worth $54,703,000 after acquiring an additional 358,846 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Arch Coal by 18.8% during the 1st quarter. JPMorgan Chase & Co. now owns 527,555 shares of the energy company’s stock worth $48,151,000 after acquiring an additional 83,590 shares during the last quarter. Formula Growth Ltd. bought a new stake in Arch Coal during the 1st quarter worth approximately $7,393,000. Finally, American Century Companies Inc. bought a new stake in Arch Coal during the 4th quarter worth approximately $6,322,000.

About Arch Coal

Arch Coal, Inc produces and sells thermal and metallurgical coal from surface and underground mines. As of December 31, 2018, the company operated nine active mines. It also owned or controlled primarily through long-term leases approximately 28,292 acres of coal land in Ohio; 1,060 acres of coal land in Maryland; 10,195 acres of coal land in Virginia; 359,122 acres of coal land in West Virginia; 81,868 acres of coal land in Wyoming; 268,802 acres of coal land in Illinois; 33,527 acres of coal land in Kentucky; 9,840 acres of coal land in Montana; 21,802 acres of coal land in New Mexico; 358 acres of coal land in Pennsylvania; and 19,146 acres of coal land in Colorado, as well as owned or controlled through long-term leases smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas.

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