Zacks Investment Research Upgrades Alliance Resource Partners, L.P. (ARLP) to Hold

Alliance Resource Partners, L.P. (NASDAQ:ARLP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday, November 2nd.

According to Zacks, “ALLIANCE RESOURCES is a diversified producer and marketer of coal to major U.S. utilities and industrial users. They currently operate mining complexes in Illinois, Indiana, Kentucky and Maryland. Some of their mining complexes are underground and one has both surface and underground mines. They produce a diverse range of steam coals with varying sulfur and heat contents, which enable them to satisfy the broad range of specifications demanded by their customers. “

Other analysts have also recently issued research reports about the stock. ValuEngine cut shares of Alliance Resource Partners, L.P. from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. FBR & Co set a $30.00 target price on shares of Alliance Resource Partners, L.P. and gave the company a “buy” rating in a report on Tuesday, October 31st. Finally, BidaskClub cut shares of Alliance Resource Partners, L.P. from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $25.27.

Shares of Alliance Resource Partners, L.P. (NASDAQ ARLP) opened at $18.80 on Thursday. The firm has a market cap of $2,457.24, a price-to-earnings ratio of 4.93 and a beta of 0.78. Alliance Resource Partners, L.P. has a fifty-two week low of $17.65 and a fifty-two week high of $25.95. The company has a quick ratio of 0.53, a current ratio of 0.82 and a debt-to-equity ratio of 0.39.

Alliance Resource Partners, L.P. (NASDAQ:ARLP) last announced its earnings results on Monday, October 30th. The energy company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.13). Alliance Resource Partners, L.P. had a net margin of 18.96% and a return on equity of 31.11%. The business had revenue of $453.19 million for the quarter, compared to the consensus estimate of $474.34 million. During the same quarter last year, the firm posted $0.91 EPS. The business’s quarterly revenue was down 17.9% on a year-over-year basis. equities analysts expect that Alliance Resource Partners, L.P. will post 3.06 EPS for the current year.

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A number of large investors have recently modified their holdings of ARLP. Alliancebernstein L.P. purchased a new position in Alliance Resource Partners, L.P. in the 1st quarter worth about $210,000. Geode Capital Management LLC raised its position in Alliance Resource Partners, L.P. by 15.4% in the 1st quarter. Geode Capital Management LLC now owns 101,391 shares of the energy company’s stock worth $2,194,000 after buying an additional 13,513 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Alliance Resource Partners, L.P. in the 1st quarter worth about $1,611,000. KCG Holdings Inc. raised its position in Alliance Resource Partners, L.P. by 129.2% in the 1st quarter. KCG Holdings Inc. now owns 21,178 shares of the energy company’s stock worth $459,000 after buying an additional 11,938 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Alliance Resource Partners, L.P. by 11.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 766,428 shares of the energy company’s stock worth $16,593,000 after buying an additional 80,861 shares during the last quarter. 14.37% of the stock is owned by institutional investors and hedge funds.

About Alliance Resource Partners, L.P.

Alliance Resource Partners, L.P. is a producer and marketer of coal primarily to the United States utilities and industrial users. The Company operates through segments, including Illinois Basin, Appalachia, and Other and Corporate. The Illinois Basin segment consists of various operating segments, including Webster County Coal, LLC’s Dotiki mining complex, Gibson County Coal, LLC’s mining complex, which includes the Gibson North mine and Gibson South mine, Hopkins County Coal, LLC’s mining complex, which includes the Elk Creek mine, the Pleasant View surface mineable reserves and the Fies property, White County Coal, LLC’s, Pattiki mining complex, Warrior Coal, LLC’s mining complex, Sebree Mining, LLC’s mining complex, which includes the Onton mine and River View Coal, LLC mining complex.

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Analyst Recommendations for Alliance Resource Partners, L.P. (NASDAQ:ARLP)

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