Alliance Resource Partners (NASDAQ:ARLP) Upgraded by Zacks Research to "Strong-Buy" Rating

Key Points

• Zacks Research upgraded Alliance Resource Partners (NASDAQ:ARLP) from hold to strong-buy, adding to a mixed but generally positive analyst backdrop. MarketBeat says the stock’s overall consensus rating remains Buy with an average price target of $30.00.
• ARLP shares were up 0.2% and opened at $24.45, below both the 50-day average of $24.87 and the 200-day average of $25.40. The stock has ranged between $22.20 and $29.45 over the past year.
• The company recently reported weak quarterly earnings, posting $0.07 EPS versus estimates of $0.35, while revenue of $516.02 million was slightly below expectations. Despite the miss, Alliance Resource Partners maintains solid financial metrics, including a 16.87% return on equity and low debt-to-equity of 0.24.

Alliance Resource Partners (NASDAQ:ARLP - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other research analysts have also recently issued reports on the company. Wall Street Zen cut Alliance Resource Partners from a "buy" rating to a "hold" rating in a research report on Saturday, April 4th. Weiss Ratings cut shares of Alliance Resource Partners from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $30.00.

Alliance Resource Partners Trading Up 0.2%

Shares of ARLP stock opened at $24.45 on Wednesday. The stock's fifty day moving average price is $24.87 and its two-hundred day moving average price is $25.40. The company has a market cap of $3.15 billion, a PE ratio of 12.87 and a beta of 0.23. Alliance Resource Partners has a fifty-two week low of $22.20 and a fifty-two week high of $29.45. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.46.

Alliance Resource Partners (NASDAQ:ARLP - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The energy company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.28). Alliance Resource Partners had a return on equity of 16.87% and a net margin of 11.35%.The business had revenue of $516.02 million for the quarter, compared to analyst estimates of $518.24 million. Equities analysts predict that Alliance Resource Partners will post 2.52 EPS for the current fiscal year.

Institutional Trading of Alliance Resource Partners

A number of hedge funds have recently made changes to their positions in the company. Royal Bank of Canada increased its stake in shares of Alliance Resource Partners by 7.0% in the first quarter. Royal Bank of Canada now owns 19,058 shares of the energy company's stock valued at $519,000 after buying an additional 1,254 shares during the period. Geode Capital Management LLC boosted its position in Alliance Resource Partners by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 118,249 shares of the energy company's stock worth $3,091,000 after buying an additional 855 shares during the period. Jump Financial LLC bought a new stake in Alliance Resource Partners during the 2nd quarter worth approximately $418,000. HUB Investment Partners LLC grew its holdings in Alliance Resource Partners by 4.0% during the 2nd quarter. HUB Investment Partners LLC now owns 13,094 shares of the energy company's stock worth $342,000 after acquiring an additional 499 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Alliance Resource Partners by 4.8% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 518,451 shares of the energy company's stock valued at $13,552,000 after acquiring an additional 23,579 shares during the period. 18.11% of the stock is owned by institutional investors and hedge funds.

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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