ConturaEnergyInc . (NASDAQ:CTRA) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of ConturaEnergyInc . (NASDAQ:CTRA) from a strong sell rating to a hold rating in a research note released on Tuesday morning, Zacks.com reports.

According to Zacks, “Contura Energy Inc. is a mining company. The Company supplies metallurgical and thermal coal to generate power. It operates primarily in Pennsylvania, Virginia, West Virginia and Wyoming. Contura Energy Inc. is based in Bristol, United States. “

A number of other research firms also recently weighed in on CTRA. B. Riley set a $7.00 price target on Unique Fabricating and gave the stock a buy rating in a research note on Thursday, May 16th. Seaport Global Securities began coverage on ConturaEnergyInc . in a research note on Friday, May 3rd. They set a buy rating and a $78.00 price target for the company.



Shares of CTRA traded up $0.48 during midday trading on Tuesday, reaching $38.93. 1,863 shares of the stock were exchanged, compared to its average volume of 150,690. ConturaEnergyInc . has a 12-month low of $37.69 and a 12-month high of $81.00. The business has a 50 day simple moving average of $50.89.

ConturaEnergyInc . (NASDAQ:CTRA) last posted its quarterly earnings results on Wednesday, May 15th. The company reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.60 by ($3.19). The firm had revenue of $609.10 million during the quarter, compared to the consensus estimate of $554.05 million. ConturaEnergyInc .’s quarterly revenue was up 26.3% compared to the same quarter last year.

In related news, CEO Kevin S. Crutchfield sold 12,708 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $54.02, for a total value of $686,486.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin S. Crutchfield sold 17,693 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $57.74, for a total value of $1,021,593.82. The disclosure for this sale can be found here. Insiders sold a total of 75,992 shares of company stock worth $4,188,970 over the last three months.

Several hedge funds have recently modified their holdings of the stock. Highbridge Capital Management LLC bought a new position in shares of ConturaEnergyInc . in the 4th quarter valued at approximately $56,351,000. Deutsche Bank AG bought a new position in ConturaEnergyInc . in the 4th quarter worth approximately $47,723,000. BlackRock Inc. bought a new position in ConturaEnergyInc . in the 4th quarter worth approximately $45,598,000. Alta Fundamental Advisers LLC bought a new position in ConturaEnergyInc . in the 4th quarter worth approximately $30,123,000. Finally, Oaktree Capital Management LP bought a new position in ConturaEnergyInc . in the 4th quarter worth approximately $23,376,000.

About ConturaEnergyInc .

Contura Energy, Inc extracts, processes, and markets steam and metallurgical coal to electric utilities, steel and coke producers, and industrial customers in the United States and internationally. The company operates in three segments: Central Appalachia Operations, Northern Appalachia Operations, and Trading and Logistics.

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