Alliance Resource Partners (NASDAQ:ARLP) Rating Lowered to Strong Sell at Zacks Research

Alliance Resource Partners (NASDAQ:ARLP) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research analysts have also recently issued reports on ARLP. Industrial Alliance Securities set a $30.00 price target on shares of Alliance Resource Partners in a report on Wednesday, September 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of Alliance Resource Partners in a report on Monday, December 29th. Benchmark reaffirmed a “buy” rating on shares of Alliance Resource Partners in a report on Tuesday, October 28th. Wall Street Zen downgraded Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Alliance Global Partners initiated coverage on shares of Alliance Resource Partners in a report on Wednesday, September 24th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Alliance Resource Partners currently has a consensus rating of “Hold” and a consensus target price of $29.50.

Alliance Resource Partners Stock Up 1.8%

Shares of NASDAQ:ARLP opened at $23.73 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.24. The firm has a 50 day simple moving average of $23.97 and a 200-day simple moving average of $24.63. The company has a market capitalization of $3.05 billion, a PE ratio of 12.62 and a beta of 0.32. Alliance Resource Partners has a twelve month low of $22.20 and a twelve month high of $30.56.

Alliance Resource Partners (NASDAQ:ARLP) last released its quarterly earnings data on Monday, October 27th. The energy company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.03. The company had revenue of $571.40 million during the quarter, compared to the consensus estimate of $567.03 million. Alliance Resource Partners had a net margin of 10.88% and a return on equity of 14.75%. On average, equities analysts predict that Alliance Resource Partners will post 2.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Alliance Resource Partners

A number of institutional investors have recently made changes to their positions in ARLP. Progeny 3 Inc. lifted its stake in Alliance Resource Partners by 6.9% during the third quarter. Progeny 3 Inc. now owns 3,274,381 shares of the energy company’s stock worth $82,793,000 after purchasing an additional 211,400 shares during the last quarter. Jackson Hole Capital Partners LLC lifted its holdings in Alliance Resource Partners by 0.8% in the third quarter. Jackson Hole Capital Partners LLC now owns 2,117,392 shares of the energy company’s stock worth $53,538,000 after acquiring an additional 17,603 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Alliance Resource Partners in the 2nd quarter worth approximately $17,847,000. Barclays PLC increased its position in Alliance Resource Partners by 3.3% in the third quarter. Barclays PLC now owns 657,191 shares of the energy company’s stock worth $16,617,000 after buying an additional 21,116 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Alliance Resource Partners by 4.8% during 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 purchasing an additional 23,579 shares during the period. 18.11% of the stock is currently owned by institutional investors.

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.