Atlas Energy Solutions Inc. (NYSE:AESI) Receives $26.00 Consensus Target Price from Analysts

Shares of Atlas Energy Solutions Inc. (NYSE:AESI) have received a consensus recommendation of “Buy” from the nine research firms that are presently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $26.00.

A number of research firms have recently issued reports on AESI. Tudor, Pickering, Holt & Co. began coverage on shares of Atlas Energy Solutions in a research note on Monday, June 24th. They set a “buy” rating on the stock. Tudor Pickering raised shares of Atlas Energy Solutions to a “strong-buy” rating in a research report on Monday, June 24th. Benchmark started coverage on shares of Atlas Energy Solutions in a research report on Thursday, May 23rd. They set a “buy” rating and a $27.00 price target for the company. Raymond James raised their price target on shares of Atlas Energy Solutions from $26.00 to $27.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, April 16th. Finally, The Goldman Sachs Group raised their price target on shares of Atlas Energy Solutions from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th.

Insiders Place Their Bets

In other Atlas Energy Solutions news, major shareholder Richard W. Schmidt sold 45,948 shares of Atlas Energy Solutions stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $23.06, for a total value of $1,059,560.88. Following the completion of the transaction, the insider now owns 983,315 shares of the company’s stock, valued at $22,675,243.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Atlas Energy Solutions news, major shareholder Richard W. Schmidt sold 45,948 shares of Atlas Energy Solutions stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $23.06, for a total value of $1,059,560.88. Following the completion of the transaction, the insider now owns 983,315 shares of the company’s stock, valued at $22,675,243.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Chad M. Mcever sold 100,000 shares of Atlas Energy Solutions stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $24.55, for a total transaction of $2,455,000.00. Following the completion of the transaction, the insider now directly owns 451,755 shares of the company’s stock, valued at approximately $11,090,585.25. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 131,278 shares of company stock valued at $2,541,468 and sold 205,672 shares valued at $4,859,410. 24.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

Several hedge funds and other institutional investors have recently modified their holdings of AESI. Tucker Asset Management LLC acquired a new position in shares of Atlas Energy Solutions during the third quarter valued at $49,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Atlas Energy Solutions during the first quarter valued at $78,000. PNC Financial Services Group Inc. boosted its holdings in shares of Atlas Energy Solutions by 1,328.5% during the third quarter. PNC Financial Services Group Inc. now owns 5,571 shares of the company’s stock valued at $124,000 after acquiring an additional 5,181 shares during the period. Bessemer Group Inc. acquired a new position in shares of Atlas Energy Solutions during the first quarter valued at $154,000. Finally, Wealthsource Partners LLC bought a new stake in shares of Atlas Energy Solutions during the fourth quarter valued at about $172,000. Institutional investors and hedge funds own 34.59% of the company’s stock.

Atlas Energy Solutions Trading Up 4.1 %

AESI opened at $20.21 on Tuesday. The firm has a market capitalization of $2.02 billion, a P/E ratio of 11.23, a P/E/G ratio of 2.82 and a beta of 0.58. The firm’s 50 day moving average is $21.88 and its 200-day moving average is $20.23. Atlas Energy Solutions has a 52-week low of $15.55 and a 52-week high of $24.93. The company has a quick ratio of 2.05, a current ratio of 2.24 and a debt-to-equity ratio of 0.43.

Atlas Energy Solutions (NYSE:AESI) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.12). The firm had revenue of $192.67 million for the quarter, compared to analysts’ expectations of $196.39 million. Atlas Energy Solutions had a net margin of 19.98% and a return on equity of 29.56%. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 EPS. Analysts expect that Atlas Energy Solutions will post 2.02 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 16th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date was Wednesday, May 15th. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.21. Atlas Energy Solutions’s payout ratio is currently 35.56%.

Atlas Energy Solutions Company Profile

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.