Raymond James Increases Atlas Energy Solutions (NYSE:AESI) Price Target to $27.00

Atlas Energy Solutions (NYSE:AESI) had its price target lifted by equities research analysts at Raymond James from $26.00 to $27.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “strong-buy” rating on the stock. Raymond James’ target price would suggest a potential upside of 22.89% from the company’s previous close.

AESI has been the topic of several other research reports. Royal Bank of Canada lifted their price target on Atlas Energy Solutions from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Barclays lifted their target price on shares of Atlas Energy Solutions from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Finally, The Goldman Sachs Group started coverage on shares of Atlas Energy Solutions in a research note on Thursday, March 14th. They issued a “buy” rating and a $24.00 price target for the company. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Atlas Energy Solutions has a consensus rating of “Buy” and a consensus price target of $25.17.

Atlas Energy Solutions Stock Down 0.9 %

Shares of NYSE AESI opened at $21.97 on Tuesday. The company has a current ratio of 3.44, a quick ratio of 3.21 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average of $20.80 and a 200 day moving average of $18.91. Atlas Energy Solutions has a 12-month low of $15.28 and a 12-month high of $24.69. The stock has a market cap of $2.20 billion and a PE ratio of 13.99.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.24). Atlas Energy Solutions had a net margin of 17.17% and a return on equity of 47.40%. The company had revenue of $141.14 million during the quarter, compared to analysts’ expectations of $147.34 million. As a group, sell-side analysts predict that Atlas Energy Solutions will post 2.92 EPS for the current fiscal year.

Insider Transactions at Atlas Energy Solutions

In other news, CFO John Gregory Turner sold 3,728 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $22.58, for a total transaction of $84,178.24. Following the completion of the transaction, the chief financial officer now directly owns 1,582,303 shares in the company, valued at $35,728,401.74. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, major shareholder Stacy Hock sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $19.97, for a total transaction of $998,500.00. Following the sale, the insider now directly owns 970,738 shares of the company’s stock, valued at approximately $19,385,637.86. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO John Gregory Turner sold 3,728 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $22.58, for a total transaction of $84,178.24. Following the sale, the chief financial officer now owns 1,582,303 shares in the company, valued at $35,728,401.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 246,860 shares of company stock worth $5,332,121. 24.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada boosted its holdings in Atlas Energy Solutions by 526.7% in the second quarter. Royal Bank of Canada now owns 2,206 shares of the company’s stock valued at $37,000 after purchasing an additional 1,854 shares during the period. Tucker Asset Management LLC purchased a new stake in Atlas Energy Solutions during the 3rd quarter worth about $49,000. Russell Investments Group Ltd. acquired a new stake in Atlas Energy Solutions in the 2nd quarter valued at about $53,000. Tower Research Capital LLC TRC purchased a new position in shares of Atlas Energy Solutions in the 1st quarter valued at about $68,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Atlas Energy Solutions in the 2nd quarter valued at about $69,000. Institutional investors and hedge funds own 34.59% of the company’s stock.

About Atlas Energy Solutions

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.