Alliance Resource Partners (NASDAQ:ARLP) Coverage Initiated at Clarkson Capital

Clarkson Capital began coverage on shares of Alliance Resource Partners (NASDAQ:ARLP) in a research note published on Tuesday, The Fly reports. The firm issued a buy rating and a $20.00 price target on the energy company’s stock.

Other equities research analysts have also recently issued reports about the company. ValuEngine cut Verso from a hold rating to a sell rating in a report on Thursday, May 23rd. BidaskClub upgraded Zebra Technologies from a hold rating to a buy rating in a report on Saturday, July 6th. Finally, Zacks Investment Research cut EXACT Sciences from a hold rating to a sell rating in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. Alliance Resource Partners has a consensus rating of Hold and a consensus target price of $20.50.

ARLP opened at $17.71 on Tuesday. Alliance Resource Partners has a 52-week low of $16.50 and a 52-week high of $20.99. The stock has a market cap of $2.27 billion, a PE ratio of 7.26 and a beta of 0.92. The firm’s fifty day simple moving average is $17.27. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.32.

Alliance Resource Partners (NASDAQ:ARLP) last issued its earnings results on Monday, April 29th. The energy company reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.34. Alliance Resource Partners had a return on equity of 30.52% and a net margin of 23.51%. The business had revenue of $526.60 million during the quarter, compared to analysts’ expectations of $523.00 million. During the same period in the prior year, the business earned $1.16 EPS. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. Sell-side analysts anticipate that Alliance Resource Partners will post 3.1 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of ARLP. Valeo Financial Advisors LLC lifted its holdings in shares of Alliance Resource Partners by 185.7% in 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 period. Arlington Partners LLC bought a new position in shares of Alliance Resource Partners in the 2nd quarter worth $114,000. Chiron Investment Management LLC raised its position in shares of Alliance Resource Partners by 19.6% in the 4th quarter. Chiron Investment Management LLC now owns 9,784 shares of the energy company’s stock worth $170,000 after acquiring an additional 1,600 shares in the last quarter. Cetera Advisors LLC bought a new position in shares of Alliance Resource Partners in the 1st quarter worth $203,000. Finally, Aveo Capital Partners LLC bought a new position in shares of Alliance Resource Partners in the 1st quarter worth $203,000. Institutional investors and hedge funds own 25.00% 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.

Featured Article: Dead Cat Bounce

The Fly

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.