Credit Suisse Lowers Price Target on Arch Coal (ACI)
A number of other firms have also recently commented on ACI. Analysts at Goldman Sachs (NYSE: GS) upgraded shares of Arch Coal from a “sell” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $8.00 price target on the stock. Separately, analysts at UBS AG (NYSE: UBS) upgraded shares of Arch Coal from a “neutral” rating to a “buy” rating in a research note to investors on Monday, May 14th. They now have a $11.00 price target on the stock, down previously from $12.00. They noted that the move was a valuation call. Finally, analysts at Nomura (NYSE: NMR) reiterated a “reduce” rating on shares of Arch Coal in a research note to investors on Wednesday, May 2nd.
Shares of Arch Coal traded down 0.96% during mid-day trading on Friday, hitting $7.23. Arch Coal has a 52 week low of $9.05 and a 52 week high of $35.06. The company has a market cap of $1.535 billion and a P/E ratio of 16.94.
Arch Coal last announced its earnings results on Tuesday, May 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.26. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. On average, analysts predict that Arch Coal will post $-0.14 earnings per share next quarter.
Arch Coal, Inc. (Arch) is a coal producer. During the year ended December 31, 2011, the Company sold approximately 156.