Arch Coal, Inc. Class A (NYSE:ARCH) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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. “
A number of other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. lifted their target price on Arch Coal, Inc. Class A from $90.00 to $94.00 and gave the company a “hold” rating in a research report on Thursday, February 15th. Jefferies Group set a $120.00 target price on Arch Coal, Inc. Class A and gave the company a “buy” rating in a research report on Tuesday, February 13th. ValuEngine raised Arch Coal, Inc. Class A from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Stifel Nicolaus set a $109.00 target price on Arch Coal, Inc. Class A and gave the company a “buy” rating in a research report on Tuesday, January 16th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Arch Coal, Inc. Class A presently has an average rating of “Buy” and a consensus target price of $101.25.
Arch Coal, Inc. Class A (NYSE:ARCH) last released its quarterly earnings results on Tuesday, February 13th. The energy company reported $4.12 EPS for the quarter, topping the Zacks’ consensus estimate of $2.32 by $1.80. The business had revenue of $560.20 million for the quarter, compared to analyst estimates of $574.83 million. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.65 EPS. research analysts anticipate that Arch Coal, Inc. Class A will post 12.3 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP acquired a new position in shares of Arch Coal, Inc. Class A during the 3rd quarter worth approximately $35,030,000. Renaissance Technologies LLC boosted its stake in shares of Arch Coal, Inc. Class A by 4,086.5% during the 4th quarter. Renaissance Technologies LLC now owns 217,700 shares of the energy company’s stock worth $20,281,000 after acquiring an additional 212,500 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Arch Coal, Inc. Class A by 281.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 138,956 shares of the energy company’s stock worth $9,969,000 after acquiring an additional 102,544 shares during the period. Encompass Capital Advisors LLC bought a new position in shares of Arch Coal, Inc. Class A during the 4th quarter worth approximately $9,316,000. Finally, Two Sigma Investments LP boosted its stake in shares of Arch Coal, Inc. Class A by 3,368.1% during the 4th quarter. Two Sigma Investments LP now owns 91,507 shares of the energy company’s stock worth $8,525,000 after acquiring an additional 94,307 shares during the period. 59.80% of the stock is currently owned by institutional investors and hedge funds.
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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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