Zacks Investment Research Lowers Alliance Resource Partners (NASDAQ:ARLP) to Sell

Zacks Investment Research downgraded shares of Alliance Resource Partners (NASDAQ:ARLP) from a hold rating to a sell rating in a research report report published on Thursday morning, Zacks.com reports.

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. “

Several other equities research analysts have also weighed in on ARLP. TheStreet lowered Alliance Resource Partners from a c- rating to a d rating in a research report on Tuesday, July 28th. Benchmark dropped their price target on Alliance Resource Partners from $11.00 to $6.00 and set a buy rating on the stock in a research report on Wednesday, April 8th. BidaskClub raised Alliance Resource Partners from a strong sell rating to a sell rating in a report on Tuesday, July 28th. ValuEngine raised Alliance Resource Partners from a sell rating to a hold rating in a report on Thursday, July 2nd. Finally, B. Riley reissued a neutral rating on shares of Alliance Resource Partners in a report on Tuesday, July 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $11.67.

NASDAQ ARLP opened at $3.28 on Thursday. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 0.70. Alliance Resource Partners has a twelve month low of $2.70 and a twelve month high of $17.69. The firm has a market capitalization of $417.20 million, a PE ratio of -3.25 and a beta of 1.54. The stock’s 50 day moving average is $3.40 and its 200 day moving average is $4.99.

Alliance Resource Partners (NASDAQ:ARLP) last released its quarterly earnings results on Monday, July 27th. The energy company reported ($0.37) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.43) by $0.06. Alliance Resource Partners had a positive return on equity of 3.46% and a negative net margin of 8.30%. The company had revenue of $255.20 million for the quarter, compared to analyst estimates of $198.00 million. During the same period in the previous year, the company posted $0.44 earnings per share. On average, research analysts anticipate that Alliance Resource Partners will post -0.49 earnings per share for the current year.

In other news, CAO Robert J. Fouch sold 59,065 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $3.25, for a total transaction of $191,961.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Robert J. Fouch purchased 46,318 shares of the stock in a transaction dated Friday, June 12th. The shares were acquired at an average cost of $4.01 per share, for a total transaction of $185,735.18. Following the completion of the acquisition, the chief accounting officer now owns 46,318 shares of the company’s stock, valued at $185,735.18. The disclosure for this purchase can be found here. Corporate insiders own 44.03% of the company’s stock.

Several large investors have recently made changes to their positions in ARLP. Raymond James & Associates lifted its holdings in shares of Alliance Resource Partners by 51.4% during the fourth quarter. Raymond James & Associates now owns 33,989 shares of the energy company’s stock valued at $368,000 after purchasing an additional 11,543 shares in the last quarter. Advisor Group Inc. increased its position in Alliance Resource Partners by 37.4% during the fourth quarter. Advisor Group Inc. now owns 11,014 shares of the energy company’s stock valued at $119,000 after acquiring an additional 2,998 shares during the last quarter. Jane Street Group LLC purchased a new stake in Alliance Resource Partners during the fourth quarter valued at $194,000. Adams Asset Advisors LLC increased its position in Alliance Resource Partners by 2.0% during the first quarter. Adams Asset Advisors LLC now owns 501,653 shares of the energy company’s stock valued at $1,555,000 after acquiring an additional 9,660 shares during the last quarter. Finally, Magnolia Group LLC increased its position in Alliance Resource Partners by 18.6% during the first quarter. Magnolia Group LLC now owns 5,402,015 shares of the energy company’s stock valued at $16,746,000 after acquiring an additional 846,668 shares during the last quarter. 16.19% of the stock is currently owned by hedge funds and other institutional investors.

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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