Atlas Energy Solutions (NYSE:AESI) PT Lowered to $24.00 at Bank of America

Atlas Energy Solutions (NYSE:AESI) had its price target lowered by Bank of America from $25.00 to $24.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

AESI has been the topic of a number of other research reports. Piper Sandler lowered their target price on Atlas Energy Solutions from $29.00 to $27.00 and set an overweight rating on the stock in a research note on Monday. Tudor Pickering upgraded Atlas Energy Solutions to a strong-buy rating in a report on Monday, June 24th. The Goldman Sachs Group raised their price objective on shares of Atlas Energy Solutions from $25.00 to $28.00 and gave the company a buy rating in a research report on Tuesday, May 28th. Raymond James boosted their target price on shares of Atlas Energy Solutions from $26.00 to $27.00 and gave the stock a strong-buy rating in a research report on Tuesday, April 16th. Finally, Benchmark started coverage on shares of Atlas Energy Solutions in a report on Thursday, May 23rd. They set a buy rating and a $27.00 price target on the stock. Nine analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Buy and an average target price of $25.89.

Atlas Energy Solutions Price Performance

Shares of AESI opened at $21.36 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.24 and a quick ratio of 2.05. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 5.20 and a beta of 0.58. The business’s 50-day moving average is $21.55 and its 200-day moving average is $20.48. Atlas Energy Solutions has a fifty-two week low of $15.55 and a fifty-two week high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last released its earnings results on Monday, May 6th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.12). Atlas Energy Solutions had a return on equity of 29.56% and a net margin of 19.98%. The company had revenue of $192.67 million during the quarter, compared to analysts’ expectations of $196.39 million. During the same quarter in the previous year, the company earned $0.03 EPS. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. Equities research analysts expect that Atlas Energy Solutions will post 1.86 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 16th were given a dividend of $0.22 per share. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Wednesday, May 15th. Atlas Energy Solutions’s payout ratio is 35.56%.

Insider Buying and Selling

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $19.89, for a total transaction of $170,477.19. Following the sale, the insider now directly owns 960,459 shares of the company’s stock, valued at $19,103,529.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $19.89, for a total transaction of $170,477.19. Following the completion of the transaction, the insider now directly owns 960,459 shares of the company’s stock, valued at $19,103,529.51. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Richard W. Schmidt sold 51,150 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $22.98, for a total transaction of $1,175,427.00. Following the completion of the sale, the insider now directly owns 1,051,663 shares in the company, valued at approximately $24,167,215.74. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 131,278 shares of company stock valued at $2,541,468 and sold 214,243 shares valued at $5,029,887. Company insiders own 24.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. DekaBank Deutsche Girozentrale bought a new position in Atlas Energy Solutions in the 1st quarter valued at $78,000. Bessemer Group Inc. bought a new position in shares of Atlas Energy Solutions in the first quarter valued at about $154,000. BNP Paribas Financial Markets acquired a new position in Atlas Energy Solutions during the 1st quarter worth about $202,000. Diversified Trust Co bought a new stake in Atlas Energy Solutions during the 1st quarter worth about $209,000. Finally, Wealthsource Partners LLC acquired a new stake in Atlas Energy Solutions in the 4th quarter valued at about $172,000. 34.59% of the stock is owned by institutional investors and hedge funds.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.