Arch Resources (NYSE:ARCH) Raised to Overweight at Piper Sandler

Arch Resources (NYSE:ARCH) was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report released on Monday, MarketBeat Ratings reports. The brokerage presently has a $150.00 price objective on the energy company’s stock, down from their prior price objective of $165.00. Piper Sandler’s target price would suggest a potential upside of 5.92% from the company’s previous close.

A number of other research analysts have also recently issued reports on the company. StockNews.com initiated coverage on Arch Resources in a research note on Monday. They set a “hold” rating for the company. Jefferies Financial Group downgraded shares of Arch Resources from a “buy” rating to a “hold” rating and increased their price objective for the company from $155.00 to $165.00 in a research report on Wednesday, November 13th. Finally, Benchmark restated a “buy” rating and set a $180.00 price target on shares of Arch Resources in a research note on Monday, November 18th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arch Resources has a consensus rating of “Moderate Buy” and a consensus price target of $167.17.

Arch Resources Stock Up 1.6 %

Shares of ARCH stock opened at $141.62 on Monday. Arch Resources has a 52 week low of $116.44 and a 52 week high of $187.60. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 14.88 and a beta of 0.69. The stock has a fifty day moving average of $155.65 and a 200 day moving average of $145.30.

Arch Resources (NYSE:ARCH) last announced its earnings results on Tuesday, November 5th. The energy company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($2.17). Arch Resources had a return on equity of 13.22% and a net margin of 6.69%. The firm had revenue of $617.90 million during the quarter, compared to the consensus estimate of $587.71 million. During the same period in the prior year, the company posted $3.91 EPS. The firm’s revenue was down 17.0% on a year-over-year basis. Equities research analysts anticipate that Arch Resources will post 5.86 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Deck Slone sold 253 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $144.75, for a total transaction of $36,621.75. Following the completion of the transaction, the vice president now directly owns 29,120 shares in the company, valued at approximately $4,215,120. This represents a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Arch Resources

Several large investors have recently modified their holdings of ARCH. TD Asset Management Inc purchased a new stake in Arch Resources in the 2nd quarter valued at about $578,000. AdvisorShares Investments LLC purchased a new stake in shares of Arch Resources in the second quarter valued at approximately $511,000. American Century Companies Inc. grew its stake in Arch Resources by 14.1% in the second quarter. American Century Companies Inc. now owns 478,990 shares of the energy company’s stock worth $72,917,000 after purchasing an additional 59,072 shares in the last quarter. Qsemble Capital Management LP purchased a new position in Arch Resources during the 2nd quarter worth $403,000. Finally, Envestnet Asset Management Inc. bought a new stake in Arch Resources during the 2nd quarter valued at $8,700,000. Institutional investors own 88.14% of the company’s stock.

Arch Resources Company Profile

Arch Resources, Inc engages in the production and sale of metallurgical products. It operates in two segments, Metallurgical and Thermal. The company operates active mines. It owned or controlled primarily through long-term leases of coal land in Ohio, Maryland, Virginia, West Virginia, Wyoming, Kentucky, Montana, Pennsylvania, Colorado, and Illinois; and smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas.