Alliance Resource (NASDAQ:ARLP) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report issued on Monday, StockRatingsNetwork.com reports. They currently have a $82.50 price target on the stock. Zacks‘ price target indicates a potential upside of 10.40% from the stock’s previous close.
Alliance Resource (NASDAQ:ARLP) traded down 0.96% on Monday, hitting $74.01. The stock had a trading volume of 54,051 shares. Alliance Resource has a 52 week low of $52.21 and a 52 week high of $78.99. The stock has a 50-day moving average of $76.37 and a 200-day moving average of $71.83. The company has a market cap of $2.736 billion and a P/E ratio of 11.20.
Alliance Resource (NASDAQ:ARLP) last posted its quarterly earnings results on Friday, July 26th. The company reported $1.96 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.59 by $0.37. The company had revenue of $553.60 million for the quarter, compared to the consensus estimate of $548.18 million. During the same quarter in the prior year, the company posted $0.91 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, analysts predict that Alliance Resource will post $7.34 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on ARLP. Analysts at Hilliard Lyons downgraded shares of Alliance Resource (NASDAQ:ARLP) from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, July 30th. They now have a $75.00 price target on the stock. Separately, analysts at Cowen and Company raised their price target on shares of Alliance Resource (NASDAQ:ARLP) from $81.00 to $84.00 in a research note to investors on Friday, July 26th. They now have an “outperform” rating on the stock. Finally, analysts at Deutsche Bank downgraded shares of Alliance Resource (NASDAQ:ARLP) from a “buy” rating to a “hold” rating in a research note to investors on Friday, July 12th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Alliance Resource has an average rating of “Buy” and a consensus price target of $79.88.
Alliance Resource Partners, L.P. (NASDAQ:ARLP) is a producer and marketer of coal primarily to the United States utilities and industrial users.
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