Atlas Energy Solutions Inc. (NYSE:AESI) Receives $24.44 Average Price Target from Analysts

Atlas Energy Solutions Inc. (NYSE:AESI) has been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $24.44.

Several research analysts have weighed in on AESI shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. The Goldman Sachs Group lowered Atlas Energy Solutions from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $21.00 in a report on Thursday, November 7th. Benchmark reissued a “buy” rating and set a $27.00 price objective on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Stephens reissued an “overweight” rating and set a $28.00 price objective on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Finally, Citigroup lowered Atlas Energy Solutions from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $22.00 in a report on Thursday, November 14th.

Atlas Energy Solutions Stock Performance

Shares of AESI stock opened at $24.02 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. Atlas Energy Solutions has a fifty-two week low of $15.55 and a fifty-two week high of $24.93. The stock’s 50-day moving average is $21.28 and its two-hundred day moving average is $21.06. The firm has a market cap of $2.65 billion, a P/E ratio of 30.40, a PEG ratio of 11.85 and a beta of 0.96.

Atlas Energy Solutions (NYSE:AESI) last issued its earnings results on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.25). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The firm had revenue of $304.40 million during the quarter, compared to analyst estimates of $307.93 million. During the same period in the previous year, the company earned $0.51 earnings per share. The business’s revenue for the quarter was up 93.1% on a year-over-year basis. Analysts predict that Atlas Energy Solutions will post 0.88 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were paid a dividend of $0.24 per share. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, November 7th. This represents a $0.96 annualized dividend and a yield of 4.00%. Atlas Energy Solutions’s dividend payout ratio is presently 121.52%.

Insider Activity at Atlas Energy Solutions

In other news, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total transaction of $166,620.24. Following the sale, the insider now owns 943,317 shares of the company’s stock, valued at approximately $18,338,082.48. This trade represents a 0.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Gregory M. Shepard acquired 1,797 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were purchased at an average cost of $19.65 per share, for a total transaction of $35,311.05. Following the acquisition, the insider now directly owns 7,507,194 shares in the company, valued at $147,516,362.10. This represents a 0.02 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 60,869 shares of company stock worth $1,187,983 and sold 115,713 shares worth $2,517,431. 24.34% of the stock is owned by corporate insiders.

Institutional Trading of Atlas Energy Solutions

Institutional investors have recently modified their holdings of the company. First Horizon Advisors Inc. boosted its stake in Atlas Energy Solutions by 313.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock valued at $34,000 after buying an additional 1,308 shares in the last quarter. Amalgamated Bank boosted its stake in Atlas Energy Solutions by 328.1% in the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock valued at $47,000 after buying an additional 1,801 shares in the last quarter. Quest Partners LLC acquired a new stake in Atlas Energy Solutions in the 3rd quarter valued at $48,000. FMR LLC boosted its stake in Atlas Energy Solutions by 101.0% in the 3rd quarter. FMR LLC now owns 2,696 shares of the company’s stock valued at $59,000 after buying an additional 1,355 shares in the last quarter. Finally, CWM LLC boosted its stake in Atlas Energy Solutions by 47.1% in the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after buying an additional 886 shares in the last quarter. 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.