Westmoreland Coal Co. (NASDAQ:WLB) had its price objective raised by FBR & Co from $16.00 to $22.00 in a research report released on Wednesday. The brokerage currently has an outperform rating on the stock.

A number of other research analysts have also recently issued reports on WLB. Zacks Investment Research upgraded Westmoreland Coal from a sell rating to a hold rating in a research note on Saturday, November 12th. BMO Capital Markets reissued a buy rating and issued a $8.00 target price on shares of Westmoreland Coal in a report on Wednesday, August 3rd. Finally, Seaport Global Securities initiated coverage on Westmoreland Coal in a report on Friday, November 4th. They issued a buy rating and a $20.00 target price for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $13.45.

Shares of Westmoreland Coal (NASDAQ:WLB) remained flat at $15.23 during mid-day trading on Wednesday. The stock had a trading volume of 594,251 shares. The company’s market cap is $282.82 million. The stock’s 50 day moving average is $11.48 and its 200 day moving average is $9.49. Westmoreland Coal has a 1-year low of $3.44 and a 1-year high of $17.37.

Westmoreland Coal (NASDAQ:WLB) last announced its quarterly earnings data on Tuesday, November 1st. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.85. The business earned $370.70 million during the quarter, compared to analyst estimates of $387 million. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned ($2.59) EPS. On average, equities research analysts forecast that Westmoreland Coal will post $0.87 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Westmoreland Coal during the first quarter valued at approximately $304,000. Nisa Investment Advisors LLC raised its stake in shares of Westmoreland Coal by 101.6% in the second quarter. Nisa Investment Advisors LLC now owns 25,000 shares of the company’s stock valued at $238,000 after buying an additional 12,600 shares during the last quarter. Monarch Partners Asset Management LLC raised its stake in shares of Westmoreland Coal by 11.1% in the second quarter. Monarch Partners Asset Management LLC now owns 20,990 shares of the company’s stock valued at $200,000 after buying an additional 2,090 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Westmoreland Coal during the second quarter valued at approximately $3,040,000. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of Westmoreland Coal by 4.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 18,103 shares of the company’s stock valued at $172,000 after buying an additional 806 shares during the last quarter. 65.73% of the stock is owned by institutional investors.

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About Westmoreland Coal

Westmoreland Coal Company is an energy company. The Company operates through six segments: Coal – U.S., Coal – Canada, Coal – Westmoreland Resource Partners, LP (WMLP), Power, Heritage and Corporate. Coal – U.S. segment includes the operations of coal mines located in Montana, North Dakota, Ohio, Texas and New Mexico.

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