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

Piper Sandler upgraded shares of Arch Resources (NYSE:ARCH) from a neutral rating to an overweight rating in a research note published on Monday morning, Marketbeat reports. The firm currently has $150.00 target price on the energy company’s stock, down from their prior target price of $165.00.

Several other research analysts also recently commented on ARCH. Benchmark reiterated a “buy” rating and issued a $180.00 price objective on shares of Arch Resources in a report on Monday, November 18th. Jefferies Financial Group downgraded Arch Resources from a “buy” rating to a “hold” rating and boosted their price objective for the company from $155.00 to $165.00 in a research report on Wednesday, November 13th. Finally, StockNews.com assumed coverage on shares of Arch Resources in a report on Monday. They issued a “hold” rating on the stock. Three investment 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.17.

Arch Resources Trading Down 0.8 %

Shares of NYSE ARCH opened at $140.47 on Monday. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 14.76 and a beta of 0.69. The stock’s 50-day moving average is $155.47 and its 200 day moving average is $145.21. Arch Resources has a 1-year low of $116.44 and a 1-year high of $187.60.

Arch Resources (NYSE:ARCH) last announced 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 return on equity of 13.22% and a net margin of 6.69%. The business had revenue of $617.90 million during the quarter, compared to the consensus estimate of $587.71 million. During the same quarter in the previous year, the firm posted $3.91 earnings per share. The company’s revenue was down 17.0% compared to the same quarter last year. On average, analysts forecast that Arch Resources will post 5.86 EPS for the current fiscal year.

Arch Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Friday, November 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date was Friday, November 15th. Arch Resources’s payout ratio is 10.50%.

Insider Buying and Selling at Arch Resources

In other Arch Resources news, VP Deck Slone sold 253 shares of Arch Resources 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 sale, the vice president now directly owns 29,120 shares of the company’s stock, valued at approximately $4,215,120. The trade was a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Arch Resources

Several hedge funds have recently made changes to their positions in ARCH. TD Asset Management Inc purchased a new position in Arch Resources during the second quarter valued at $578,000. AdvisorShares Investments LLC bought a new position in shares of Arch Resources in the 2nd quarter worth about $511,000. American Century Companies Inc. lifted its position in Arch Resources by 14.1% during the 2nd quarter. American Century Companies Inc. now owns 478,990 shares of the energy company’s stock valued at $72,917,000 after acquiring an additional 59,072 shares during the period. Qsemble Capital Management LP bought a new stake in Arch Resources during the second quarter worth about $403,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Arch Resources in the second quarter worth about $8,700,000. 88.14% of the stock is currently owned by institutional investors.

About Arch Resources

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.