Alliance Resource Partners, L.P. (NASDAQ:ARLP)’s share price reached a new 52-week high on Friday after FBR & Co raised their price target on the stock from $22.00 to $24.00. FBR & Co currently has an outperform rating on the stock. Alliance Resource Partners, L.P. traded as high as $22.96 and last traded at $22.82, with a volume of 184,125 shares traded. The stock had previously closed at $22.20.

Separately, Zacks Investment Research upgraded Alliance Resource Partners, L.P. from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Tuesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $23.33.

In other Alliance Resource Partners, L.P. news, VP Robert J. Fouch sold 17,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $19.34, for a total transaction of $328,780.00. Following the completion of the sale, the vice president now directly owns 33,242 shares of the company’s stock, valued at approximately $642,900.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Institutional investors have recently modified their holdings of the company. Royal Bank of Canada boosted its stake in shares of Alliance Resource Partners, L.P. by 0.5% in the second quarter. Royal Bank of Canada now owns 43,400 shares of the company’s stock worth $684,000 after buying an additional 200 shares during the period. IFP Advisors Inc boosted its stake in shares of Alliance Resource Partners, L.P. by 8.0% in the second quarter. IFP Advisors Inc now owns 8,763 shares of the company’s stock worth $138,000 after buying an additional 651 shares during the period. Acrospire Investment Management LLC boosted its stake in shares of Alliance Resource Partners, L.P. by 19.0% in the second quarter. Acrospire Investment Management LLC now owns 6,810 shares of the company’s stock worth $107,000 after buying an additional 1,088 shares during the period. State Street Corp boosted its stake in shares of Alliance Resource Partners, L.P. by 3.9% in the first quarter. State Street Corp now owns 39,863 shares of the company’s stock worth $464,000 after buying an additional 1,492 shares during the period. Finally, Rathbone Brothers plc boosted its stake in shares of Alliance Resource Partners, L.P. by 13.6% in the second quarter. Rathbone Brothers plc now owns 16,505 shares of the company’s stock worth $260,000 after buying an additional 1,975 shares during the period.

The firm’s 50-day moving average price is $21.41 and its 200 day moving average price is $17.30. The stock has a market cap of $1.70 billion, a PE ratio of 14.22 and a beta of 0.80.

Alliance Resource Partners, L.P. (NASDAQ:ARLP) last announced its earnings results on Tuesday, July 26th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.27. The firm had revenue of $439.20 million for the quarter, compared to analyst estimates of $444.13 million. During the same period last year, the firm earned $0.76 earnings per share. Alliance Resource Partners, L.P.’s revenue for the quarter was down 27.4% compared to the same quarter last year. On average, equities analysts forecast that Alliance Resource Partners, L.P. will post $2.45 EPS for the current fiscal year.

Alliance Resource Partners, L.P. Company Profile

Alliance Resource Partners, L.P. is a producer and marketer of coal primarily to the United States utilities and industrial users. The Company operates through segments, including Illinois Basin, Appalachia, and Other and Corporate. It operates over 10 underground mining complexes in Illinois, Indiana, Kentucky, Maryland and West Virginia.

5 Day Chart for NASDAQ:ARLP

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