Shares of Alliance Resource Partners, L.P. (NASDAQ:ARLP) shot up 2.5% during trading on Friday . The company traded as high as $17.95 and last traded at $17.83, with a volume of 270,556 shares traded. The stock had previously closed at $17.40.

A number of research firms recently commented on ARLP. Zacks Investment Research upgraded shares of Alliance Resource Partners, L.P. from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Wednesday, May 4th. FBR & Co lifted their target price on shares of Alliance Resource Partners, L.P. from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Monday, May 2nd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $21.00.

The firm has a market capitalization of $1.33 billion and a price-to-earnings ratio of 11.54. The company’s 50 day moving average is $15.87 and its 200 day moving average is $13.69.

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

Several hedge funds have modified their holdings of ARLP. Magnolia Group LLC acquired a new stake in shares of Alliance Resource Partners, L.P. during the fourth quarter valued at about $22,519,000. Marshall Wace LLP acquired a new stake in shares of Alliance Resource Partners, L.P. during the fourth quarter valued at about $2,493,000. 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 in 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 in the last quarter. Finally, 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 in 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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