Deutsche Bank Sets Arch Coal Price Target at $15.00 (ACI)
Deutsche Bank (NYSE: DB) decreased their price target on shares of Arch Coal (NYSE: ACI) from $19.00 to $15.00 in a research note issued on Wednesday. The firm currently has a “buy” rating on the stock.
The analysts wrote, “Arch Coal reported 1Q EPS loss of $0.04 vs DBe of $0.10 and street consensus of $0.16. Following results and new guidance, we trim estimates and our PT. However, we maintain Buy rating given upside to PT and we find ACI’s shares attractive with the anticipated ‘bad’ news now communicated to the Street.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Howard Weil downgraded shares of Arch Coal from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday. They now have a $15.00 price target on the stock, down previously from $22.00. Separately, analysts at Jefferies Group (NYSE: JEF) cut their price target on shares of Arch Coal from $24.00 to $18.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at CRT Capital upgraded shares of Arch Coal to a “buy” rating in a research note to investors on Wednesday.
Arch Coal traded down 3.76% on Wednesday, hitting $8.18. Arch Coal has a 1-year low of $8.42 and a 1-year high of $31.99. The company has a market cap of $1.731 billion and a price-to-earnings ratio of 11.49.
The company last announced its quarterly results on Tuesday, May 1st. It reported ($0.04) earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.22 EPS by $0.26. The company’s quarterly revenue was up 19.1% on a year-over-year basis. Analysts expect that Arch Coal will post $0.00 EPS next quarter.
Arch Coal, Inc. (Arch) is a coal producer company. During the year ended December 31, 2010, the Company sold 162.