Zacks Investment Research cut shares of Arch Coal, Inc. Class A (NASDAQ:ARCH) from a hold rating to a sell rating in a research report released on Friday.

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. “

Several other research analysts also recently issued reports on ARCH. Clarkson Capital reiterated a buy rating on shares of Arch Coal, Inc. Class A in a research note on Thursday, July 27th. Jefferies Group LLC set a $90.00 price target on shares of Arch Coal, Inc. Class A and gave the company a buy rating in a research report on Friday, August 18th. MKM Partners restated a buy rating and issued a $104.00 price objective on shares of Arch Coal, Inc. Class A in a report on Tuesday, September 12th. Macquarie initiated coverage on shares of Arch Coal, Inc. Class A in a report on Thursday, September 7th. They issued a neutral rating and a $84.00 price objective for the company. Finally, Stifel Nicolaus set a $92.00 price objective on Arch Coal, Inc. Class A and gave the company a buy rating in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of $92.38.

Shares of Arch Coal, Inc. Class A (NASDAQ:ARCH) opened at 71.74 on Friday. The stock has a market cap of $1.74 billion and a price-to-earnings ratio of 1.00. The firm has a 50-day moving average of $75.08 and a 200 day moving average of $75.08. Arch Coal, Inc. Class A has a 1-year low of $0.04 and a 1-year high of $86.47.

Arch Coal, Inc. Class A (NASDAQ:ARCH) last announced its quarterly earnings results on Thursday, July 27th. The energy company reported $1.85 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.92 by ($0.07). The company had revenue of $549.87 million for the quarter, compared to the consensus estimate of $596.76 million. The company’s revenue was up 30.8% on a year-over-year basis. Equities research analysts forecast that Arch Coal, Inc. Class A will post $8.92 earnings per share for the current year.

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The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were issued a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $1.40 annualized dividend and a yield of 1.95%. This is a boost from Arch Coal, Inc. Class A’s previous quarterly dividend of $0.03.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Arch Coal, Inc. Class A by 242.4% in the 2nd quarter. BlackRock Inc. now owns 1,415,537 shares of the energy company’s stock worth $96,680,000 after buying an additional 1,002,176 shares during the last quarter. State Street Corp grew its holdings in shares of Arch Coal, Inc. Class A by 3,567.0% in the first quarter. State Street Corp now owns 660,065 shares of the energy company’s stock worth $45,504,000 after acquiring an additional 642,065 shares during the period. Davidson Kempner Capital Management LP grew its holdings in shares of Arch Coal, Inc. Class A by 51.2% in the second quarter. Davidson Kempner Capital Management LP now owns 999,951 shares of the energy company’s stock worth $68,297,000 after acquiring an additional 338,500 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Arch Coal, Inc. Class A by 11,912.7% in the second quarter. JPMorgan Chase & Co. now owns 228,241 shares of the energy company’s stock worth $15,588,000 after acquiring an additional 226,341 shares during the period. Finally, Contrarius Investment Management Ltd grew its holdings in shares of Arch Coal, Inc. Class A by 35.9% in the second quarter. Contrarius Investment Management Ltd now owns 789,130 shares of the energy company’s stock worth $53,898,000 after acquiring an additional 208,487 shares during the period.

Arch Coal, Inc. Class A Company Profile

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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Analyst Recommendations for Arch Coal, Inc. Class A (NASDAQ:ARCH)

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