Alliance Resource Partners (NASDAQ:ARLP) Lowered to Strong Sell at BidaskClub

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BidaskClub cut shares of Alliance Resource Partners (NASDAQ:ARLP) from a sell rating to a strong sell rating in a report released on Thursday, BidAskClub reports.

A number of other equities analysts have also weighed in on ARLP. TheStreet lowered shares of Alliance Resource Partners from a b- rating to a c+ rating in a research note on Monday, August 19th. B. Riley lowered shares of Alliance Resource Partners from a buy rating to a neutral rating and reduced their target price for the stock from $22.00 to $20.00 in a research note on Wednesday, July 17th. Clarkson Capital assumed coverage on shares of Alliance Resource Partners in a research note on Tuesday, July 9th. They issued a buy rating and a $20.00 target price for the company. JPMorgan Chase & Co. lowered shares of Alliance Resource Partners from an overweight rating to a neutral rating and reduced their target price for the stock from $23.00 to $22.00 in a research note on Monday, August 19th. Finally, Seaport Global Securities lowered shares of Alliance Resource Partners from a buy rating to a neutral rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $20.75.

ARLP opened at $13.67 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.02 and a debt-to-equity ratio of 0.35. Alliance Resource Partners has a 12 month low of $13.40 and a 12 month high of $20.78. The company has a fifty day simple moving average of $15.26 and a 200 day simple moving average of $19.99. The stock has a market cap of $1.74 billion, a P/E ratio of 5.60 and a beta of 0.95.

Alliance Resource Partners (NASDAQ:ARLP) last released its quarterly earnings data on Friday, July 26th. The energy company reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.21). Alliance Resource Partners had a net margin of 22.14% and a return on equity of 27.63%. The firm had revenue of $517.10 million during the quarter, compared to the consensus estimate of $531.10 million. During the same quarter in the prior year, the company earned $0.64 EPS. Alliance Resource Partners’s quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts expect that Alliance Resource Partners will post 2.41 earnings per share for the current fiscal year.

In other news, Director Robert J. Druten sold 12,000 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $17.13, for a total transaction of $205,560.00. Following the completion of the transaction, the director now directly owns 25,628 shares in the company, valued at approximately $439,007.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Wilson M. Torrence acquired 5,600 shares of Alliance Resource Partners stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average price of $15.42 per share, with a total value of $86,352.00. Following the completion of the purchase, the director now owns 39,096 shares in the company, valued at $602,860.32. The disclosure for this purchase can be found here. 44.03% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of ARLP. Brand Asset Management Group Inc. acquired a new position in shares of Alliance Resource Partners during the 2nd quarter worth about $35,000. NEXT Financial Group Inc acquired a new position in shares of Alliance Resource Partners during the 2nd quarter worth about $60,000. Valeo Financial Advisors LLC boosted its stake in shares of Alliance Resource Partners by 185.7% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,525 shares of the energy company’s stock worth $60,000 after buying an additional 2,291 shares during the last quarter. TCI Wealth Advisors Inc. acquired a new position in shares of Alliance Resource Partners during the 3rd quarter worth about $81,000. Finally, Arlington Partners LLC acquired a new position in shares of Alliance Resource Partners during the 2nd quarter worth about $114,000. Institutional investors own 22.84% of the company’s stock.

Alliance Resource Partners Company Profile

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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