Alliance Resource Partners (NASDAQ:ARLP) Upgraded by BidaskClub to “Sell”

BidaskClub upgraded shares of Alliance Resource Partners (NASDAQ:ARLP) from a strong sell rating to a sell rating in a research note released on Wednesday, BidAskClub reports.

A number of other research analysts have also recently weighed in on the stock. ValuEngine cut shares of Alliance Resource Partners from a hold rating to a sell rating in a research report on Thursday, May 23rd. Zacks Investment Research raised shares of Alliance Resource Partners from a hold rating to a buy rating and set a $21.00 price target on the stock in a research report on Friday, May 3rd.

Shares of ARLP stock opened at $16.95 on Wednesday. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 6.95 and a beta of 0.98. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.70 and a current ratio of 0.94. Alliance Resource Partners has a fifty-two week low of $16.50 and a fifty-two week high of $20.99.

Alliance Resource Partners (NASDAQ:ARLP) last announced its quarterly earnings results on Monday, April 29th. The energy company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.34. The firm had revenue of $526.60 million for the quarter, compared to analysts’ expectations of $523.00 million. Alliance Resource Partners had a net margin of 23.51% and a return on equity of 30.52%. Alliance Resource Partners’s revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 earnings per share. As a group, equities research analysts anticipate that Alliance Resource Partners will post 3.1 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Chicago Partners Investment Group LLC lifted its position in Alliance Resource Partners by 2.4% during the first quarter. Chicago Partners Investment Group LLC now owns 25,188 shares of the energy company’s stock valued at $469,000 after buying an additional 588 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in Alliance Resource Partners by 5.0% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,874 shares of the energy company’s stock valued at $283,000 after buying an additional 655 shares in the last quarter. Jackson Hole Capital Partners LLC lifted its position in Alliance Resource Partners by 0.8% during the first quarter. Jackson Hole Capital Partners LLC now owns 97,066 shares of the energy company’s stock valued at $1,976,000 after buying an additional 772 shares in the last quarter. Chiron Investment Management LLC lifted its position in Alliance Resource Partners by 19.6% during the fourth quarter. Chiron Investment Management LLC now owns 9,784 shares of the energy company’s stock valued at $170,000 after buying an additional 1,600 shares in the last quarter. Finally, Advisor Group Inc. lifted its position in shares of Alliance Resource Partners by 18.3% during the first quarter. Advisor Group Inc. now owns 12,059 shares of the energy company’s stock worth $245,000 after purchasing an additional 1,866 shares in the last quarter. 25.00% of the stock is currently owned by hedge funds and other institutional investors.

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.

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