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

Arch Resources (NYSE:ARCH) was upgraded by investment analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a report issued on Monday,Benzinga reports. The brokerage currently has a $150.00 price target on the energy company’s stock, down from their prior price target of $165.00. Jefferies Financial Group’s price objective would suggest a potential upside of 4.82% from the company’s current price.

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

Arch Resources Price Performance

Shares of Arch Resources stock opened at $143.10 on Monday. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 15.03 and a beta of 0.69. The stock’s 50-day moving average is $155.76 and its 200-day moving average is $145.42. Arch Resources has a one year low of $116.44 and a one year high of $187.60.

Arch Resources (NYSE:ARCH) last released its earnings results on Tuesday, November 5th. The energy company reported ($0.34) EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $587.71 million. During the same quarter in the previous year, the firm posted $3.91 EPS. The company’s revenue was down 17.0% on a year-over-year basis. On average, equities analysts expect that Arch Resources will post 5.86 EPS for the current year.

Insiders Place Their Bets

In other news, VP Deck Slone sold 253 shares of the firm’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 value of $36,621.75. Following the transaction, the vice president now owns 29,120 shares in the company, valued at $4,215,120. This trade represents 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 this hyperlink. Corporate insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Arch Resources

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in Arch Resources by 340.5% during the 4th quarter. GAMMA Investing LLC now owns 185 shares of the energy company’s stock worth $26,000 after acquiring an additional 143 shares during the period. Quest Partners LLC bought a new stake in Arch Resources during the third quarter valued at $50,000. KBC Group NV boosted its position in shares of Arch Resources by 43.3% during the 3rd quarter. KBC Group NV now owns 569 shares of the energy company’s stock valued at $79,000 after acquiring an additional 172 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Arch Resources by 191.1% during the third quarter. Blue Trust Inc. now owns 978 shares of the energy company’s stock worth $149,000 after purchasing an additional 642 shares in the last quarter. Finally, Westchester Capital Management LLC bought a new position in shares of Arch Resources in the third quarter worth approximately $157,000. 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.