Brokerages Set Atlas Energy Solutions Inc. (NYSE:AESI) Target Price at $26.25

Shares of Atlas Energy Solutions Inc. (NYSE:AESI) have earned a consensus rating of “Buy” from the ten research firms that are presently covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $26.25.

A number of research analysts have issued reports on AESI shares. Tudor, Pickering, Holt & Co. initiated coverage on Atlas Energy Solutions in a research note on Monday, June 24th. They issued a “buy” rating for the company. Royal Bank of Canada decreased their price objective on Atlas Energy Solutions from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. The Goldman Sachs Group dropped their target price on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Benchmark reiterated a “buy” rating and issued a $27.00 price target on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Finally, Tudor Pickering upgraded shares of Atlas Energy Solutions to a “strong-buy” rating in a report on Monday, June 24th.

Atlas Energy Solutions Stock Up 1.8 %

Atlas Energy Solutions stock opened at $21.76 on Friday. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 5.92 and a beta of 0.56. The company’s 50 day simple moving average is $20.42 and its 200 day simple moving average is $21.40. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.53 and a quick ratio of 1.35. Atlas Energy Solutions has a fifty-two week low of $15.55 and a fifty-two week high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.18). Atlas Energy Solutions had a return on equity of 16.75% and a net margin of 13.71%. The firm had revenue of $287.52 million for the quarter, compared to the consensus estimate of $270.55 million. During the same period in the prior year, the business earned $0.69 earnings per share. The company’s revenue for the quarter was up 77.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Atlas Energy Solutions will post 1.48 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a dividend of $0.23 per share. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.22. The ex-dividend date was Thursday, August 15th. This represents a $0.92 annualized dividend and a yield of 4.23%. Atlas Energy Solutions’s dividend payout ratio is presently 51.11%.

Insider Activity at Atlas Energy Solutions

In related news, major shareholder Gregory M. Shepard bought 3,248 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were acquired at an average price of $21.68 per share, with a total value of $70,416.64. Following the completion of the transaction, the insider now owns 7,503,197 shares in the company, valued at $162,669,310.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Gregory M. Shepard bought 3,248 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average cost of $21.68 per share, with a total value of $70,416.64. Following the completion of the purchase, the insider now owns 7,503,197 shares of the company’s stock, valued at $162,669,310.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Stacy Hock sold 8,574 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $19.76, for a total transaction of $169,422.24. Following the sale, the insider now directly owns 969,030 shares in the company, valued at $19,148,032.80. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 134,526 shares of company stock valued at $2,611,884 and sold 34,287 shares valued at $679,825. 24.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Atlas Energy Solutions

A number of institutional investors have recently bought and sold shares of AESI. First Horizon Advisors Inc. boosted its stake in shares of Atlas Energy Solutions by 313.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock worth $34,000 after acquiring an additional 1,308 shares during the period. Amalgamated Bank lifted its holdings in Atlas Energy Solutions by 328.1% during the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock valued at $47,000 after purchasing an additional 1,801 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Atlas Energy Solutions during the first quarter worth $78,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Atlas Energy Solutions during the second quarter worth $74,000. Finally, nVerses Capital LLC acquired a new position in shares of Atlas Energy Solutions in the second quarter valued at $106,000. Institutional investors and hedge funds own 34.59% of the company’s stock.

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.