Jefferies Financial Group Upgrades Arch Resources (NYSE:ARCH) to “Buy”

Arch Resources (NYSE:ARCH) was upgraded by equities researchers at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued on Monday,Benzinga reports. The firm presently has a $150.00 price objective on the energy company’s stock, down from their previous price objective of $165.00. Jefferies Financial Group’s price target suggests a potential upside of 5.92% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Piper Sandler raised shares of Arch Resources from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $165.00 to $150.00 in a research note on Monday. StockNews.com assumed coverage on shares of Arch Resources in a research note on Monday. They issued a “hold” rating for the company. Finally, Benchmark reiterated a “buy” rating and issued a $180.00 price objective on shares of Arch Resources in a research note on Monday, November 18th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $167.17.

Arch Resources Stock Performance

Arch Resources stock opened at $141.62 on Monday. The company has a market capitalization of $2.56 billion, a PE ratio of 14.88 and a beta of 0.69. Arch Resources has a fifty-two week low of $116.44 and a fifty-two week high of $187.60. The firm has a 50 day moving average price of $155.57 and a 200 day moving average price of $145.24.

Arch Resources (NYSE:ARCH) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of $1.83 by ($2.17). Arch Resources had a net margin of 6.69% and a return on equity of 13.22%. The firm had revenue of $617.90 million during the quarter, compared to analyst estimates of $587.71 million. During the same period in the previous year, the firm posted $3.91 earnings per share. The company’s quarterly revenue was down 17.0% compared to the same quarter last year. As a group, equities research analysts forecast that Arch Resources will post 5.86 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Deck Slone sold 253 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $144.75, for a total transaction of $36,621.75. Following the completion of the sale, the vice president now owns 29,120 shares in the company, valued at $4,215,120. The trade was a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.90% of the company’s stock.

Institutional Trading of Arch Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TD Asset Management Inc acquired a new stake in Arch Resources during the 2nd quarter worth $578,000. AdvisorShares Investments LLC acquired a new stake in shares of Arch Resources during the second quarter worth about $511,000. American Century Companies Inc. lifted its holdings in shares of Arch Resources by 14.1% in the 2nd quarter. American Century Companies Inc. now owns 478,990 shares of the energy company’s stock valued at $72,917,000 after purchasing an additional 59,072 shares during the last quarter. Qsemble Capital Management LP acquired a new stake in shares of Arch Resources in the 2nd quarter valued at about $403,000. Finally, Envestnet Asset Management Inc. purchased a new position in Arch Resources during the 2nd quarter worth approximately $8,700,000. 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.