Arch Resources (NYSE:ARCH) Upgraded to “Overweight” at Piper Sandler

Arch Resources (NYSE:ARCH) was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a note issued to investors on Monday, Marketbeat.com reports. The brokerage currently has a $150.00 target price on the energy company’s stock, down from their prior target price of $165.00. Piper Sandler’s target price suggests a potential upside of 5.92% from the stock’s current price.

A number of other brokerages also recently commented on ARCH. Jefferies Financial Group downgraded shares of Arch Resources from a “buy” rating to a “hold” rating and boosted their target price for the stock from $155.00 to $165.00 in a report on Wednesday, November 13th. StockNews.com assumed coverage on shares of Arch Resources in a research note on Monday. They set a “hold” rating for the company. Finally, Benchmark reissued a “buy” rating and set a $180.00 target price on shares of Arch Resources in a research report on Monday, November 18th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.17.

Arch Resources Stock Performance

NYSE ARCH opened at $141.62 on Monday. The company has a market cap of $2.56 billion, a PE ratio of 14.88 and a beta of 0.69. The firm’s 50 day moving average price is $155.65 and its 200-day moving average price is $145.30. Arch Resources has a 52-week low of $116.44 and a 52-week high of $187.60.

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

Insider Buying and Selling

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

Institutional Trading of Arch Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARCH. FMR LLC boosted its holdings in shares of Arch Resources by 159.5% in the 3rd quarter. FMR LLC now owns 657,654 shares of the energy company’s stock valued at $90,862,000 after acquiring an additional 404,249 shares during the last quarter. Holocene Advisors LP boosted its holdings in Arch Resources by 422.4% in the third quarter. Holocene Advisors LP now owns 250,349 shares of the energy company’s stock valued at $34,588,000 after purchasing an additional 202,425 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Arch Resources by 13.6% in the second quarter. Pacer Advisors Inc. now owns 1,001,093 shares of the energy company’s stock valued at $152,396,000 after purchasing an additional 119,505 shares during the last quarter. First Eagle Investment Management LLC acquired a new stake in Arch Resources during the 2nd quarter worth about $11,813,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Arch Resources during the 3rd quarter valued at about $9,828,000. Institutional investors and hedge funds own 88.14% of the company’s stock.

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.