Alliance Resource Partners (ARLP) Raised to Strong-Buy at BidaskClub
Alliance Resource Partners (NASDAQ:ARLP) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday.
ARLP has been the topic of several other reports. Zacks Investment Research downgraded Alliance Resource Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. TheStreet upgraded Alliance Resource Partners from a “c+” rating to a “b” rating in a research report on Monday, October 29th. Finally, ValuEngine upgraded Alliance Resource Partners from a “sell” rating to a “hold” rating in a research report on Friday, October 26th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $23.20.
Shares of ARLP stock traded down $0.01 on Tuesday, reaching $19.60. The stock had a trading volume of 257,300 shares, compared to its average volume of 421,630. The company has a market cap of $2.55 billion, a P/E ratio of 6.83 and a beta of 0.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.13 and a quick ratio of 0.85. Alliance Resource Partners has a 1 year low of $15.55 and a 1 year high of $21.90.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its holdings in Alliance Resource Partners by 0.4% during the third quarter. FMR LLC now owns 839,201 shares of the energy company’s stock valued at $17,120,000 after acquiring an additional 3,101 shares during the period. Commonwealth Equity Services LLC raised its holdings in Alliance Resource Partners by 29.0% during the second quarter. Commonwealth Equity Services LLC now owns 16,478 shares of the energy company’s stock valued at $302,000 after acquiring an additional 3,708 shares during the period. Intrust Bank NA raised its holdings in Alliance Resource Partners by 36.1% during the second quarter. Intrust Bank NA now owns 14,438 shares of the energy company’s stock valued at $265,000 after acquiring an additional 3,831 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in Alliance Resource Partners by 9.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 57,429 shares of the energy company’s stock valued at $1,172,000 after acquiring an additional 5,184 shares during the period. Finally, Whittier Trust Co. bought a new stake in Alliance Resource Partners during the third quarter valued at about $146,000. Institutional investors own 30.79% 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: Ex-Dividend
Receive News & Ratings for Alliance Resource Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alliance Resource Partners and related companies with MarketBeat.com's FREE daily email newsletter.