Alliance Resource Partners (ARLP) Lifted to Buy at Zacks Investment Research

Alliance Resource Partners (NASDAQ:ARLP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm currently has a $22.00 price objective on the energy company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.53% from the stock’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. “

Several other analysts have also recently weighed in on ARLP. BidaskClub cut shares of Alliance Resource Partners from a “sell” rating to a “strong sell” rating in a research report on Friday, July 13th. ValuEngine upgraded shares of Alliance Resource Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Finally, TheStreet upgraded shares of Alliance Resource Partners from a “c+” rating to a “b” rating in a research report on Monday, October 29th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $23.20.

Alliance Resource Partners stock opened at $19.55 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.90 and a current ratio of 1.13. The firm has a market cap of $2.54 billion, a PE ratio of 6.81 and a beta of 0.79. Alliance Resource Partners has a fifty-two week low of $15.55 and a fifty-two week high of $21.90.

Alliance Resource Partners (NASDAQ:ARLP) last posted its quarterly earnings data on Monday, October 29th. The energy company reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.20). The company had revenue of $497.80 million for the quarter, compared to analysts’ expectations of $506.23 million. Alliance Resource Partners had a net margin of 19.96% and a return on equity of 25.32%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 EPS. As a group, equities analysts forecast that Alliance Resource Partners will post 2.53 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. Whittier Trust Co. purchased a new position in Alliance Resource Partners in the 3rd quarter worth $146,000. Moody Aldrich Partners LLC purchased a new position in Alliance Resource Partners in the 3rd quarter worth $248,000. Intrust Bank NA raised its position in Alliance Resource Partners by 36.1% in the 2nd quarter. Intrust Bank NA now owns 14,438 shares of the energy company’s stock worth $265,000 after purchasing an additional 3,831 shares during the period. Commonwealth Equity Services LLC raised its position in Alliance Resource Partners by 29.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 16,478 shares of the energy company’s stock worth $302,000 after purchasing an additional 3,708 shares during the period. Finally, Texas Yale Capital Corp. purchased a new position in Alliance Resource Partners in the 2nd quarter worth $471,000. Hedge funds and other institutional investors own 29.18% of the company’s stock.

About Alliance Resource Partners

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.

See Also: Cost of Debt

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