TheStreet upgraded shares of Arch Resources (NYSE:ARCH) from a d+ rating to a c- rating in a report issued on Tuesday morning, TheStreetRatingsTable reports.
Several other equities research analysts have also recently commented on the company. Zacks Investment Research raised Arch Resources from a hold rating to a buy rating and set a $58.00 target price for the company in a research note on Friday, July 2nd. B. Riley increased their price target on Arch Resources from $87.00 to $120.00 and gave the stock a buy rating in a report on Monday, October 4th. Finally, Citigroup upgraded Arch Resources from a neutral rating to a buy rating and increased their price target for the stock from $62.00 to $110.00 in a report on Wednesday, September 29th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $85.50.
Shares of ARCH stock opened at $99.01 on Tuesday. The stock has a 50-day moving average of $79.84 and a 200-day moving average of $63.13. Arch Resources has a 1-year low of $27.86 and a 1-year high of $105.58. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of -5.98 and a beta of 1.09. The company has a current ratio of 1.33, a quick ratio of 0.94 and a debt-to-equity ratio of 1.26.
In related news, Director Patrick J. Bartels, Jr. bought 750 shares of the company’s stock in a transaction dated Wednesday, August 25th. The shares were bought at an average price of $73.53 per share, for a total transaction of $55,147.50. Following the completion of the acquisition, the director now directly owns 3,750 shares of the company’s stock, valued at $275,737.50. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.00% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in shares of Arch Resources by 8.2% in the first quarter. Principal Financial Group Inc. now owns 22,045 shares of the energy company’s stock valued at $917,000 after purchasing an additional 1,680 shares in the last quarter. Royal Bank of Canada lifted its holdings in Arch Resources by 172.9% during the first quarter. Royal Bank of Canada now owns 8,203 shares of the energy company’s stock worth $341,000 after acquiring an additional 5,197 shares during the period. Alpha Paradigm Partners LLC bought a new stake in Arch Resources during the second quarter worth $995,000. BlackRock Inc. lifted its holdings in Arch Resources by 4.0% during the first quarter. BlackRock Inc. now owns 1,155,761 shares of the energy company’s stock worth $48,080,000 after acquiring an additional 44,658 shares during the period. Finally, Hancock Whitney Corp lifted its holdings in Arch Resources by 4.1% during the second quarter. Hancock Whitney Corp now owns 5,597 shares of the energy company’s stock worth $319,000 after acquiring an additional 222 shares during the period.
Arch Resources Company Profile
Arch Resources, Inc engages in the production and distribution of thermal coal. It operates through the following segments: Powder River Basin, Metallurgical and Other Thermal. The Powder River Basin segment contains thermal operations in Wyoming. The Metallurgical segment contains metallurgical operations in West Virginia.
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