Alliance Resource Partners (NASDAQ:ARLP) Downgraded to Strong Sell Rating by Zacks Research

Alliance Resource Partners (NASDAQ:ARLP) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

ARLP has been the subject of a number of other reports. Benchmark reaffirmed a “buy” rating on shares of Alliance Resource Partners in a research note on Tuesday, October 28th. Alliance Global Partners started coverage on Alliance Resource Partners in a research report on Wednesday, September 24th. They set a “buy” rating for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Alliance Resource Partners in a research report on Monday, December 29th. Wall Street Zen lowered shares of Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Industrial Alliance Securities set a $30.00 target price on shares of Alliance Resource Partners in a research note on Wednesday, September 24th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $29.50.

Alliance Resource Partners Stock Up 1.8%

Shares of NASDAQ:ARLP opened at $23.73 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.90 and a quick ratio of 1.39. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 12.62 and a beta of 0.32. The company has a 50 day moving average of $23.97 and a 200-day moving average of $24.63. Alliance Resource Partners has a one year low of $22.20 and a one year high of $30.56.

Alliance Resource Partners (NASDAQ:ARLP) last announced its quarterly earnings data on Monday, October 27th. The energy company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. Alliance Resource Partners had a net margin of 10.88% and a return on equity of 14.75%. The firm had revenue of $571.40 million for the quarter, compared to analysts’ expectations of $567.03 million. On average, sell-side analysts forecast that Alliance Resource Partners will post 2.72 earnings per share for the current year.

Institutional Trading of Alliance Resource Partners

Several hedge funds have recently bought and sold shares of ARLP. Parvin Asset Management LLC acquired a new position in shares of Alliance Resource Partners in the second quarter valued at approximately $27,000. MCF Advisors LLC lifted its position in Alliance Resource Partners by 37.7% in the 2nd quarter. MCF Advisors LLC now owns 1,377 shares of the energy company’s stock valued at $36,000 after acquiring an additional 377 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Alliance Resource Partners by 135.0% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,523 shares of the energy company’s stock valued at $39,000 after acquiring an additional 875 shares in the last quarter. Triumph Capital Management acquired a new position in Alliance Resource Partners in the 3rd quarter worth $46,000. Finally, Halbert Hargrove Global Advisors LLC bought a new position in Alliance Resource Partners during the 3rd quarter worth about $51,000. 18.11% of the stock is currently owned by institutional investors and hedge funds.

Alliance Resource Partners Company Profile

Alliance Resource Partners, L.P. (NASDAQ: ARLP) is a Tulsa, Oklahoma–based master limited partnership engaged in the production, marketing and transportation of bituminous coal. Through its subsidiaries, the company develops, owns and operates surface and underground coal mines, providing fuel primarily for electric power generation and various industrial applications. Alliance’s integrated business model covers the extraction of raw coal, processing at preparation plants and delivery to domestic and export customers.

The partnership operates multiple mining complexes across Illinois, Indiana, Kentucky and West Virginia.