Alliance Resource Partners, L.P. (NASDAQ:ARLP) shot up 4.5% on Wednesday . The stock traded as high as $16.68 and last traded at $16.66, with a volume of 146,041 shares traded. The stock had previously closed at $15.95.

Several research firms have weighed in on ARLP. FBR & Co increased their price objective on Alliance Resource Partners, L.P. from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Monday, May 2nd. Zacks Investment Research upgraded Alliance Resource Partners, L.P. from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Wednesday, May 4th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $21.00.

The stock has a market capitalization of $1.27 billion and a P/E ratio of 11.037. The company’s 50-day moving average price is $15.42 and its 200-day moving average price is $13.53.

Alliance Resource Partners, L.P. (NASDAQ:ARLP) last issued its quarterly earnings data on Tuesday, April 26th. The company reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.08. The business earned $412.80 million during the quarter, compared to the consensus estimate of $460.93 million. During the same quarter in the prior year, the firm earned $0.92 earnings per share. Alliance Resource Partners, L.P.’s revenue was down 26.3% compared to the same quarter last year. On average, equities analysts expect that Alliance Resource Partners, L.P. will post $2.06 earnings per share for the current year.

Other large investors recently modified their holdings of the company. Penserra Capital Management LLC bought a new stake in shares of Alliance Resource Partners, L.P. during the fourth quarter valued at $4,054,000. GSA Capital Partners LLP boosted its stake in shares of Alliance Resource Partners, L.P. by 103.1% in the fourth quarter. GSA Capital Partners LLP now owns 206,897 shares of the company’s stock valued at $2,791,000 after buying an additional 105,011 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Alliance Resource Partners, L.P. by 443.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 90,949 shares of the company’s stock valued at $1,227,000 after buying an additional 74,220 shares during the last quarter. Morgan Stanley boosted its stake in shares of Alliance Resource Partners, L.P. by 75.1% in the fourth quarter. Morgan Stanley now owns 878,997 shares of the company’s stock valued at $11,858,000 after buying an additional 377,083 shares during the last quarter. Finally, Edge Asset Management Inc. boosted its stake in shares of Alliance Resource Partners, L.P. by 28.3% in the fourth quarter. Edge Asset Management Inc. now owns 1,544,699 shares of the company’s stock valued at $20,838,000 after buying an additional 340,725 shares during the last quarter.

Alliance Resource Partners, L.P. is a producer and marketer of coal primarily to the United States utilities and industrial users. The Company operates through segments, including Illinois Basin, Appalachia, and Other and Corporate. It operates over 10 underground mining complexes in Illinois, Indiana, Kentucky, Maryland and West Virginia.

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