StockNews.com Initiates Coverage on Arch Resources (NYSE:ARCH)

Analysts at StockNews.com started coverage on shares of Arch Resources (NYSE:ARCH) in a report issued on Saturday. The firm set a “hold” rating on the energy company’s stock.

ARCH has been the topic of a number of other reports. B. Riley upped their target price on shares of Arch Resources from $192.00 to $198.00 and gave the company a “buy” rating in a report on Monday, July 29th. Benchmark reissued a “buy” rating and issued a $180.00 price objective on shares of Arch Resources in a research report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $178.25.

Arch Resources Price Performance

Shares of NYSE:ARCH opened at $136.43 on Friday. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 8.03 and a beta of 0.64. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.54 and a quick ratio of 1.77. The business’s 50 day simple moving average is $143.39 and its 200-day simple moving average is $156.67. Arch Resources has a 12 month low of $116.44 and a 12 month high of $187.60.

Arch Resources (NYSE:ARCH) last released its quarterly earnings data on Thursday, July 25th. The energy company reported $0.81 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.50). Arch Resources had a return on equity of 17.91% and a net margin of 9.24%. The business had revenue of $608.75 million during the quarter, compared to analysts’ expectations of $562.23 million. During the same quarter in the prior year, the firm earned $4.04 earnings per share. Arch Resources’s quarterly revenue was down 19.6% on a year-over-year basis. As a group, equities analysts forecast that Arch Resources will post 13.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arch Resources

Several institutional investors and hedge funds have recently modified their holdings of ARCH. Truist Financial Corp boosted its stake in shares of Arch Resources by 16.4% in the fourth quarter. Truist Financial Corp now owns 9,322 shares of the energy company’s stock valued at $1,547,000 after purchasing an additional 1,312 shares during the period. Russell Investments Group Ltd. raised its position in shares of Arch Resources by 4.6% in the 4th quarter. Russell Investments Group Ltd. now owns 19,413 shares of the energy company’s stock valued at $3,222,000 after purchasing an additional 849 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Arch Resources by 7.5% during the 4th quarter. Victory Capital Management Inc. now owns 281,463 shares of the energy company’s stock valued at $46,706,000 after buying an additional 19,738 shares during the last quarter. Swiss National Bank acquired a new stake in shares of Arch Resources during the fourth quarter worth approximately $5,642,000. Finally, LSV Asset Management grew its position in shares of Arch Resources by 12.4% during the fourth quarter. LSV Asset Management now owns 107,000 shares of the energy company’s stock worth $17,756,000 after buying an additional 11,800 shares in the last quarter. Hedge funds and other institutional investors 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.