Zacks Investment Research Downgrades ConturaEnergyInc . (NASDAQ:CTRA) to Strong Sell

ConturaEnergyInc . (NASDAQ:CTRA) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday, Zacks.com reports.

According to Zacks, “Contura Energy Inc. is a mining company. The Company supplies metallurgical and thermal coal to generate power. It operates primarily in Pennsylvania, Virginia, West Virginia and Wyoming. Contura Energy Inc. is based in Bristol, United States. “

Several other equities analysts have also recently weighed in on CTRA. B. Riley lowered their target price on ConturaEnergyInc . from $80.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday. Seaport Global Securities started coverage on ConturaEnergyInc . in a research note on Friday, May 3rd. They set a “buy” rating and a $78.00 target price on the stock. Finally, TheStreet cut ConturaEnergyInc . from a “c-” rating to a “d+” rating in a research note on Thursday, August 1st.

NASDAQ CTRA traded up $0.14 on Monday, hitting $31.11. 141,300 shares of the company were exchanged, compared to its average volume of 168,215. The company’s 50 day moving average price is $38.90 and its 200-day moving average price is $52.68. ConturaEnergyInc . has a twelve month low of $29.45 and a twelve month high of $81.00.

ConturaEnergyInc . (NASDAQ:CTRA) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $1.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.58 by ($0.33). The business had revenue of $656.20 million during the quarter, compared to analysts’ expectations of $603.70 million. The business’s quarterly revenue was up 24.1% on a year-over-year basis.

In related news, insider Kevin Lee Stanley sold 1,986 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $56.50, for a total value of $112,209.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Albert E. Ferrara, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $53.04, for a total value of $53,040.00. The disclosure for this sale can be found here. In the last three months, insiders sold 29,976 shares of company stock valued at $1,507,166.

Several hedge funds and other institutional investors have recently made changes to their positions in CTRA. Bailard Inc. acquired a new stake in ConturaEnergyInc . in the 1st quarter worth approximately $429,000. Geode Capital Management LLC acquired a new position in shares of ConturaEnergyInc . during the fourth quarter worth approximately $3,643,000. Millennium Management LLC acquired a new position in shares of ConturaEnergyInc . during the fourth quarter worth approximately $573,000. Northern Trust Corp acquired a new position in shares of ConturaEnergyInc . during the fourth quarter worth approximately $642,000. Finally, III Capital Management acquired a new position in shares of ConturaEnergyInc . during the second quarter worth approximately $4,147,000.

About ConturaEnergyInc .

Contura Energy, Inc extracts, processes, and markets steam and metallurgical coal to electric utilities, steel and coke producers, and industrial customers in the United States and internationally. The company operates in three segments: Central Appalachia Operations, Northern Appalachia Operations, and Trading and Logistics.

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