Alliance Resource Partners, L.P. (NASDAQ:ARLP) saw a significant drop in short interest in the month of March. As of March 13th, there was short interest totalling 1,903,000 shares, a drop of 27.4% from the February 27th total of 2,620,000 shares. Approximately 2.3% of the shares of the company are short sold. Based on an average daily trading volume, of 744,000 shares, the days-to-cover ratio is currently 2.6 days.
ARLP stock opened at $3.75 on Friday. The firm has a market cap of $489.68 million, a PE ratio of 1.23 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.12 and a current ratio of 1.63. The firm’s fifty day moving average is $6.30 and its 200 day moving average is $10.76. Alliance Resource Partners has a one year low of $3.03 and a one year high of $20.65.
Alliance Resource Partners (NASDAQ:ARLP) last announced its earnings results on Monday, January 27th. The energy company reported $0.20 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.20. Alliance Resource Partners had a net margin of 20.36% and a return on equity of 20.17%. The business had revenue of $453.30 million for the quarter, compared to analyst estimates of $463.00 million. During the same quarter last year, the business earned $0.63 earnings per share. The company’s revenue for the quarter was down 14.8% compared to the same quarter last year. Research analysts predict that Alliance Resource Partners will post 0.69 earnings per share for the current fiscal year.
ARLP has been the topic of several analyst reports. Zacks Investment Research lowered shares of Alliance Resource Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, March 17th. B. Riley dropped their price target on shares of Alliance Resource Partners from $11.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday. BidaskClub lowered shares of Alliance Resource Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, February 4th. Benchmark initiated coverage on shares of Alliance Resource Partners in a research report on Tuesday, February 4th. They set a “buy” rating on the stock. Finally, ValuEngine upgraded shares of Alliance Resource Partners from a “sell” rating to a “hold” rating in a research report on Friday, March 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Alliance Resource Partners currently has a consensus rating of “Hold” and a consensus target price of $17.50.
About Alliance Resource Partners
Alliance Resource Partners, L.P. produces and markets coal primarily to utilities and industrial users in the United States. The company operates through two segments, Illinois Basin and Appalachia. It produces a range of steam and metallurgical coal with sulfur and heat contents. The company operates eight underground mining complexes in Illinois, Indiana, Kentucky, Maryland, and West Virginia.
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