Zacks Investment Research upgraded shares of Arch Coal, Inc. Class A (NYSE:ARCH) from a hold rating to a strong-buy rating in a research report released on Tuesday morning. They currently have $107.00 price objective on the energy company’s stock.
According to Zacks, “Arch Coal, Inc. is a natural resource company. It produces metallurgical and thermal coal, used to manufacture steel and generate electricity. The company operates primarily in Alabama, Indiana, Washington, Arkansas, California, Utah and Texas. Arch Coal, Inc. is headquartered in St. Louis, Missouri. “
Several other equities research analysts have also recently weighed in on the company. ValuEngine upgraded Arch Coal, Inc. Class A from a hold rating to a buy rating in a research note on Friday, December 1st. B. Riley set a $95.00 target price on Arch Coal, Inc. Class A and gave the stock a buy rating in a research note on Tuesday, November 14th. FBR & Co restated a buy rating on shares of Arch Coal, Inc. Class A in a research note on Tuesday, October 31st. Jefferies Group restated a buy rating on shares of Arch Coal, Inc. Class A in a research note on Thursday, October 19th. Finally, Stifel Nicolaus restated a buy rating and set a $92.00 target price on shares of Arch Coal, Inc. Class A in a research note on Friday, October 13th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Arch Coal, Inc. Class A currently has a consensus rating of Buy and a consensus price target of $94.75.
Arch Coal, Inc. Class A (NYSE:ARCH) last posted its earnings results on Tuesday, October 31st. The energy company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.96. The business had revenue of $613.53 million for the quarter, compared to analysts’ expectations of $550.35 million. Arch Coal, Inc. Class A’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.43) EPS. research analysts anticipate that Arch Coal, Inc. Class A will post 9.62 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date was Wednesday, November 29th.
In other Arch Coal, Inc. Class A news, Director James N. Chapman sold 1,002 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $80.99, for a total value of $81,151.98. Following the completion of the sale, the director now owns 2,226 shares in the company, valued at $180,283.74. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Monarch Alternative Capital Lp sold 500,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $85.26, for a total value of $42,630,000.00. The disclosure for this sale can be found here. 1.34% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ARCH. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Arch Coal, Inc. Class A in the second quarter valued at approximately $104,000. Royal Bank of Canada lifted its stake in Arch Coal, Inc. Class A by 140.6% in the second quarter. Royal Bank of Canada now owns 1,655 shares of the energy company’s stock valued at $113,000 after buying an additional 967 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Arch Coal, Inc. Class A in the second quarter valued at approximately $131,000. New York State Teachers Retirement System purchased a new stake in Arch Coal, Inc. Class A in the third quarter valued at approximately $136,000. Finally, Meeder Asset Management Inc. purchased a new stake in Arch Coal, Inc. Class A in the third quarter valued at approximately $155,000.
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About Arch Coal, Inc. Class A
Arch Coal, Inc is a coal producer. The Company is engaged in the production of thermal and metallurgical coal from surface and underground mines located throughout the United States, for sale to utility, industrial and steel producers both in the United States and around the world. The Company operates mining complexes in West Virginia, Kentucky, Maryland, Virginia, Illinois, Wyoming and Colorado.
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