Alliance Resource Partners (NASDAQ:ARLP) Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Alliance Resource Partners from “hold” to “buy.” MarketBeat reports a consensus “Buy” rating and a $30 price target, compared with the stock’s recent opening price of $25.42.
• Alliance Resource Partners slightly missed quarterly expectations, reporting $0.65 in EPS versus the $0.66 consensus and revenue of $551.56 million versus $554.30 million expected. Analysts project $2.65 in EPS for the current fiscal year.
• Director Ronna R. McDaniel purchased 3,000 shares for approximately $78,330, while insiders own 16.80% of the company and institutional investors hold 18.11%.

Alliance Resource Partners (NASDAQ:ARLP - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

A number of other equities research analysts have also recently commented on the stock. Weiss Ratings cut shares of Alliance Resource Partners from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday. Zacks Research raised Alliance Resource Partners from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Alliance Resource Partners currently has a consensus rating of "Buy" and a consensus price target of $30.00.

Alliance Resource Partners Price Performance

ARLP opened at $25.42 on Friday. The business's 50-day moving average is $24.75 and its two-hundred day moving average is $25.61. Alliance Resource Partners has a 1 year low of $22.20 and a 1 year high of $29.45. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.75 and a quick ratio of 1.32. The firm has a market capitalization of $3.27 billion, a PE ratio of 12.40 and a beta of 0.22.

Alliance Resource Partners (NASDAQ:ARLP - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The energy company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Alliance Resource Partners had a net margin of 12.25% and a return on equity of 17.70%. The firm had revenue of $551.56 million for the quarter, compared to analysts' expectations of $554.30 million. Research analysts anticipate that Alliance Resource Partners will post 2.65 earnings per share for the current fiscal year.

Insider Activity at Alliance Resource Partners

In related news, Director Ronna R. Mcdaniel acquired 3,000 shares of the firm's stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average cost of $26.11 per share, with a total value of $78,330.00. Following the transaction, the director directly owned 3,000 shares of the company's stock, valued at $78,330. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 16.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Summit Securities Group LLC acquired a new stake in shares of Alliance Resource Partners during the first quarter worth $28,000. IFC & Insurance Marketing Inc. acquired a new position in shares of Alliance Resource Partners in the 4th quarter valued at $35,000. Smartleaf Asset Management LLC acquired a new position in shares of Alliance Resource Partners in the 4th quarter valued at $35,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Alliance Resource Partners by 135.0% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,523 shares of the energy company's stock valued at $39,000 after acquiring an additional 875 shares during the period. Finally, Triumph Capital Management purchased a new position in Alliance Resource Partners in the 3rd quarter worth $46,000. Institutional investors and hedge funds own 18.11% of the company's stock.

Alliance Resource Partners Company Profile

Alliance Resource Partners, L.P. NASDAQ: ARLP is a Tulsa, Oklahoma–based master limited partnership engaged in the production, marketing and transportation of bituminous coal. Through its subsidiaries, the company develops, owns and operates surface and underground coal mines, providing fuel primarily for electric power generation and various industrial applications. Alliance's integrated business model covers the extraction of raw coal, processing at preparation plants and delivery to domestic and export customers.

The partnership operates multiple mining complexes across Illinois, Indiana, Kentucky and West Virginia.

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