Alliance Resource Partners L.P. (ARLP) is Reiterated by FBR & Co. to Outperform, Raises Price Target to $ 24

Alliance Resource Partners L.P. (ARLP) was Reiterated by FBR & Co. to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 24 from a previous price target of $22 . FBR & Co. advised their investors in a research report released on Oct 13, 2016.

Many Wall Street Analysts have commented on Alliance Resource Partners L.P.. Company shares were Reiterated by FBR Capital on Aug 1, 2016 to “Outperform”, Firm has raised the Price Target to $ 22 from a previous price target of $19 .

On the company’s financial health, Alliance Resource Partners L.P. reported $0.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.27 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.55. The company had revenue of $439.20 million for the quarter, compared to analysts expectations of $440.83 million. The company’s revenue was down -27.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.76 EPS.

Alliance Resource Partners L.P. opened for trading at $22.47 and hit $22.96 on the upside on Tuesday, eventually ending the session at $22.67, with a gain of 0.31% or 0.07 points. The heightened volatility saw the trading volume jump to 3,15,375 shares. Company has a market cap of $1,686 M.

In a different news, on Aug 5, 2016, Robert J Fouch (Vice President and Controller) sold 17,000 shares at $19.34 per share price. According to the SEC, on Feb 11, 2016, John P Neafsey (director) purchased 5,000 shares at $12.15 per share price.

Alliance Resource Partners L.P. is a producer and marketer of coal primarily to the United States utilities and industrial users. The Company operates through four segments: the Illinois Basin Appalachia White Oak Resources LLC (White Oak) and Other and Corporate. The Company’s Illinois Basin mining operations are located in western Kentucky southern Illinois and southern Indiana. The Company’s Appalachian mining operations are located in eastern Kentucky Maryland and West Virginia. It owns and operates the coal handling and processing facilities and provides mine products and services. The Company also develops and markets additional services including ash and scrubber sludge removal coal yard maintenance and arranging alternate transportation services.

Alliance Resource Partners L.P.

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