Arch Coal, Inc. Class A (NASDAQ:ARCH)‘s stock had its “buy” rating reissued by equities research analysts at MKM Partners in a note issued to investors on Thursday. They presently have a $98.00 price objective on the energy company’s stock, up from their previous price objective of $93.00. MKM Partners’ price objective points to a potential upside of 26.19% from the stock’s current price.
A number of other brokerages have also recently commented on ARCH. Jefferies Group LLC set a $90.00 price objective on shares of Arch Coal, Inc. Class A and gave the stock a “buy” rating in a research note on Friday, August 18th. Clarkson Capital restated a “buy” rating on shares of Arch Coal, Inc. Class A in a report on Thursday, July 27th. Seaport Global Securities restated a “buy” rating on shares of Arch Coal, Inc. Class A in a report on Thursday, July 27th. Stifel Nicolaus restated a “buy” rating and issued a $92.00 price objective on shares of Arch Coal, Inc. Class A in a report on Friday, July 21st. Finally, FBR & Co boosted their price target on shares of Arch Coal, Inc. Class A from $103.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $93.17.
Arch Coal, Inc. Class A (ARCH) opened at 77.66 on Thursday. Arch Coal, Inc. Class A has a one year low of $59.05 and a one year high of $86.47. The stock’s 50 day moving average is $74.64 and its 200 day moving average is $71.17. The firm has a market cap of $1.89 billion and a price-to-earnings ratio of 1.08.
Arch Coal, Inc. Class A (NASDAQ:ARCH) last announced its quarterly earnings data on Thursday, July 27th. The energy company reported $1.85 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.92 by $0.07. The company had revenue of $549.87 million for the quarter, compared to analysts’ expectations of $596.76 million. The firm’s revenue for the quarter was up 30.8% compared to the same quarter last year. On average, analysts predict that Arch Coal, Inc. Class A will post $9.26 earnings per share for the current fiscal year.
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A number of hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Arch Coal, Inc. Class A during the second quarter worth approximately $104,000. Royal Bank of Canada increased its stake in shares of Arch Coal, Inc. Class A by 140.6% in the second quarter. Royal Bank of Canada now owns 1,655 shares of the energy company’s stock valued at $113,000 after buying an additional 967 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Arch Coal, Inc. Class A during the second quarter valued at approximately $131,000. Great West Life Assurance Co. Can bought a new stake in shares of Arch Coal, Inc. Class A during the second quarter valued at approximately $164,000. Finally, FNY Partners Fund LP increased its stake in shares of Arch Coal, Inc. Class A by 150.0% in the first quarter. FNY Partners Fund LP now owns 2,500 shares of the energy company’s stock valued at $172,000 after buying an additional 1,500 shares during the last quarter.
About Arch Coal, Inc. Class A
Arch Coal, Inc is a coal producer. The Company is engaged in the production of thermal and metallurgical coal from surface and underground mines located throughout the United States, for sale to utility, industrial and steel producers both in the United States and around the world. The Company operates mining complexes in West Virginia, Kentucky, Maryland, Virginia, Illinois, Wyoming and Colorado.
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