Arch Resources (NYSE:ARCH) Upgraded by Piper Sandler to Overweight Rating

Arch Resources (NYSE:ARCH) was upgraded by research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report released on Monday,Finviz reports. The brokerage currently has a $150.00 target price on the energy company’s stock, down from their previous target price of $165.00. Piper Sandler’s price objective would indicate a potential upside of 4.82% from the stock’s previous close.

ARCH has been the topic of several other reports. StockNews.com began coverage on shares of Arch Resources in a research report on Monday. They set a “hold” rating on the stock. Jefferies Financial Group cut shares of Arch Resources from a “buy” rating to a “hold” rating and upped their price target for the stock from $155.00 to $165.00 in a research note on Wednesday, November 13th. Finally, Benchmark reiterated a “buy” rating and set a $180.00 target price on shares of Arch Resources in a research report on Monday, November 18th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $169.67.

Arch Resources Stock Performance

NYSE:ARCH opened at $143.10 on Monday. Arch Resources has a fifty-two week low of $116.44 and a fifty-two week high of $187.60. The company has a 50 day moving average price of $155.76 and a 200 day moving average price of $145.42. The stock has a market capitalization of $2.59 billion, a P/E ratio of 15.03 and a beta of 0.69.

Arch Resources (NYSE:ARCH) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of $1.83 by ($2.17). The company had revenue of $617.90 million for the quarter, compared to analysts’ expectations of $587.71 million. Arch Resources had a return on equity of 13.22% and a net margin of 6.69%. Arch Resources’s revenue for the quarter was down 17.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.91 EPS. Research analysts forecast that Arch Resources will post 5.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Arch Resources

In related news, VP Deck Slone sold 253 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $144.75, for a total value of $36,621.75. Following the sale, the vice president now directly owns 29,120 shares in the company, valued at $4,215,120. The trade was a 0.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arch Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. TD Asset Management Inc bought a new stake in shares of Arch Resources during the 2nd quarter worth about $578,000. AdvisorShares Investments LLC acquired a new stake in Arch Resources during the second quarter valued at approximately $511,000. American Century Companies Inc. boosted its stake in Arch Resources by 14.1% in the 2nd quarter. American Century Companies Inc. now owns 478,990 shares of the energy company’s stock valued at $72,917,000 after buying an additional 59,072 shares in the last quarter. Qsemble Capital Management LP acquired a new stake in shares of Arch Resources during the 2nd quarter worth about $403,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of Arch Resources in the second quarter valued at approximately $8,700,000. 88.14% of the stock is currently owned by hedge funds and other institutional investors.

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.