After Seaport Global and Jefferies gave Arch Coal Inc (NYSE: ARCH) a Buy rating last month, the company received another Buy, this time from B.Riley FBR. Analyst Lucas Pipes maintained a Buy rating on Arch Coal Inc today and set a price target of $118.00. The company’s shares closed last Monday at $83.29.
According to TipRanks.com, Pipes ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -5.5% and a 41.0% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Peabody Energy Corporation Comm, Novagold Resources Inc New, and Covia Holdings Corporation.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Arch Coal Inc with a $102.50 average price target, a 23.7% upside from current levels. In a report issued on October 8, Seaport Global also maintained a Buy rating on the stock with a $92.00 price target.
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Based on Arch Coal Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $62.84 million. In comparison, last year the company had a net profit of $123 million.
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ARCH in relation to earlier this year.
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Arch Coal, Inc. engages in the production and distribution of thermal coal. It operates through the following segments: Powder River Basin, Metallurgical and Other Thermal. The Powder River Basin segment contains thermal operations in Wyoming. The Metallurgical segment contains metallurgical operations in West Virginia.