Arch Coal, Inc. Class A (ARCH) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Arch Coal, Inc. Class A (NYSE:ARCH) from a buy rating to a hold rating in a research note released on Tuesday.

According to Zacks, “Arch Coal, Inc. is a natural resource company. It produces metallurgical and thermal coal, used to manufacture steel and generate electricity. The company operates primarily in Alabama, Indiana, Washington, Arkansas, California, Utah and Texas. Arch Coal, Inc. is headquartered in St. Louis, Missouri. “

Other research analysts also recently issued reports about the company. ValuEngine upgraded Arch Coal, Inc. Class A from a hold rating to a buy rating in a research report on Friday, December 1st. B. Riley set a $95.00 target price on Arch Coal, Inc. Class A and gave the company a buy rating in a research report on Tuesday, November 14th. FBR & Co reiterated a buy rating on shares of Arch Coal, Inc. Class A in a research report on Tuesday, October 31st. Jefferies Group reiterated a buy rating on shares of Arch Coal, Inc. Class A in a research report on Thursday, October 19th. Finally, Stifel Nicolaus reiterated a buy rating and set a $92.00 target price on shares of Arch Coal, Inc. Class A in a research report on Friday, October 13th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $94.75.

Arch Coal, Inc. Class A (NYSE ARCH) traded down $1.85 during mid-day trading on Tuesday, reaching $96.83. The company’s stock had a trading volume of 331,256 shares, compared to its average volume of 237,230. Arch Coal, Inc. Class A has a 1-year low of $60.13 and a 1-year high of $99.53. The company has a quick ratio of 2.40, a current ratio of 2.79 and a debt-to-equity ratio of 0.46.

Arch Coal, Inc. Class A (NYSE:ARCH) last posted its quarterly earnings results on Tuesday, October 31st. The energy company reported $2.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.96. The business had revenue of $613.53 million during the quarter, compared to the consensus estimate of $550.35 million. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.43) earnings per share. sell-side analysts expect that Arch Coal, Inc. Class A will post 9.46 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were given a $0.35 dividend. The ex-dividend date was Wednesday, November 29th. This represents a $1.40 dividend on an annualized basis and a yield of 1.45%.

In related news, Director James N. Chapman sold 1,002 shares of the firm’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $80.99, for a total value of $81,151.98. Following the completion of the sale, the director now directly owns 2,226 shares in the company, valued at $180,283.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Monarch Alternative Capital Lp sold 500,000 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $85.26, for a total value of $42,630,000.00. The disclosure for this sale can be found here. 1.34% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Arch Coal, Inc. Class A in the second quarter worth $104,000. Royal Bank of Canada increased its stake in Arch Coal, Inc. Class A by 140.6% in the second quarter. Royal Bank of Canada now owns 1,655 shares of the energy company’s stock worth $113,000 after purchasing an additional 967 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in Arch Coal, Inc. Class A in the second quarter worth $131,000. New York State Teachers Retirement System purchased a new stake in Arch Coal, Inc. Class A in the third quarter worth $136,000. Finally, Meeder Asset Management Inc. purchased a new stake in Arch Coal, Inc. Class A in the third quarter worth $155,000.

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About Arch Coal, Inc. Class A

Arch Coal, Inc is a coal producer. The Company is engaged in the production of thermal and metallurgical coal from surface and underground mines located throughout the United States, for sale to utility, industrial and steel producers both in the United States and around the world. The Company operates mining complexes in West Virginia, Kentucky, Maryland, Virginia, Illinois, Wyoming and Colorado.

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