Atlas Energy Solutions Inc. (NYSE:AESI) Receives $26.00 Consensus Target Price from Brokerages

Shares of Atlas Energy Solutions Inc. (NYSE:AESI) have been given a consensus rating of “Buy” by the nine brokerages that are covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $26.00.

AESI has been the topic of a number of analyst reports. Tudor, Pickering, Holt & Co. initiated coverage on Atlas Energy Solutions in a research report on Monday, June 24th. They issued a “buy” rating on the stock. Raymond James upped their price target on Atlas Energy Solutions from $26.00 to $27.00 and gave the company a “strong-buy” rating in a research report on Tuesday, April 16th. Tudor Pickering upgraded Atlas Energy Solutions to a “strong-buy” rating in a research report on Monday, June 24th. Benchmark initiated coverage on Atlas Energy Solutions in a research report on Thursday, May 23rd. They issued a “buy” rating and a $27.00 price target on the stock. Finally, The Goldman Sachs Group upped their price target on Atlas Energy Solutions from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th.

Insider Transactions at Atlas Energy Solutions

In related news, major shareholder Richard W. Schmidt sold 51,150 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $22.98, for a total value of $1,175,427.00. Following the transaction, the insider now owns 1,051,663 shares in the company, valued at $24,167,215.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder Richard W. Schmidt sold 51,150 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $22.98, for a total value of $1,175,427.00. Following the transaction, the insider now owns 1,051,663 shares in the company, valued at $24,167,215.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Richard W. Schmidt sold 45,948 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $23.06, for a total value of $1,059,560.88. Following the completion of the transaction, the insider now owns 983,315 shares in the company, valued at approximately $22,675,243.90. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 131,278 shares of company stock worth $2,541,468 and have sold 205,672 shares worth $4,859,410. Company insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Several hedge funds have recently added to or reduced their stakes in AESI. Tucker Asset Management LLC acquired a new position in Atlas Energy Solutions in the third quarter valued at about $49,000. DekaBank Deutsche Girozentrale acquired a new position in Atlas Energy Solutions in the first quarter valued at about $78,000. PNC Financial Services Group Inc. lifted its stake in Atlas Energy Solutions by 1,328.5% in the third quarter. PNC Financial Services Group Inc. now owns 5,571 shares of the company’s stock valued at $124,000 after buying an additional 5,181 shares during the period. Bessemer Group Inc. acquired a new position in Atlas Energy Solutions in the first quarter valued at about $154,000. Finally, BNP Paribas Financial Markets acquired a new position in Atlas Energy Solutions in the first quarter valued at about $202,000. Institutional investors own 34.59% of the company’s stock.

Atlas Energy Solutions Stock Performance

Shares of NYSE AESI opened at $20.21 on Tuesday. The business has a fifty day simple moving average of $21.88 and a 200 day simple moving average of $20.23. The company has a current ratio of 2.24, a quick ratio of 2.05 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 2.82 and a beta of 0.58. Atlas Energy Solutions has a one year low of $15.55 and a one year high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last issued its earnings results on Monday, May 6th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.12). Atlas Energy Solutions had a net margin of 19.98% and a return on equity of 29.56%. The firm had revenue of $192.67 million during the quarter, compared to analyst estimates of $196.39 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. Sell-side analysts expect that Atlas Energy Solutions will post 2.02 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 16th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend was Wednesday, May 15th. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.21. Atlas Energy Solutions’s dividend payout ratio is presently 35.56%.

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.