Notable Price Action: Alliance Resource Partners, L.P. Sets 52-Week High; Strong Momentum for Holders

Notable Price Action: Alliance Resource Partners, L.P. Sets 52 Week High; Strong Momentum for Holders

The stock of Alliance Resource Partners, L.P. (NASDAQ:ARLP) hit a new 52-week high and has $39.50 target or 58.00% above today’s $25.00 share price. The 7 months bullish chart indicates low risk for the $1.88 billion company. The 1-year high was reported on Nov, 2 by Barchart.com. If the $39.50 price target is reached, the company will be worth $1.09B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. Alliance Resource Partners, L.P. (NASDAQ:ARLP) has risen 111.16% since March 31, 2016 and is uptrending. It has outperformed by 108.64% the S&P500.

Alliance Resource Partners, L.P. (NASDAQ:ARLP) Ratings Coverage

Out of 5 analysts covering Alliance Resource Partners (NASDAQ:ARLP), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $34 is the highest target while $19 is the lowest. The $27.17 average target is 8.68% above today’s ($25) stock price. Alliance Resource Partners has been the topic of 13 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained it with “Buy” rating and $32.0 target price in Monday, October 5 report. On Monday, October 31 the stock rating was initiated by Seaport Global Securities with “Buy”. The rating was initiated by FBR Capital with “Outperform” on Friday, September 18. As per Monday, May 2, the company rating was maintained by FBR Capital. The firm earned “Outperform” rating on Tuesday, November 1 by FBR Capital. Cowen & Co maintained Alliance Resource Partners, L.P. (NASDAQ:ARLP) on Thursday, July 30 with “Outperform” rating. Cowen & Co maintained Alliance Resource Partners, L.P. (NASDAQ:ARLP) rating on Tuesday, November 3. Cowen & Co has “Outperform” rating and $30 price target. The rating was upgraded by Zacks to “Strong Sell” on Thursday, August 6. The company was maintained on Thursday, October 13 by FBR Capital.

According to Zacks Investment Research, “ALLIANCE RESOURCES is a diversified producer and marketer of coal to major U.S. utilities and industrial users. They currently operate mining complexes in Illinois, Indiana, Kentucky and Maryland. Some of their mining complexes are underground and one has both surface and underground mines. They produce a diverse range of steam coals with varying sulfur and heat contents, which enable them to satisfy the broad range of specifications demanded by their customers.”

Insitutional Activity: The institutional sentiment increased to 0.92 in 2016 Q2. Its up 0.44, from 0.48 in 2016Q1. The ratio improved, as 17 funds sold all Alliance Resource Partners, L.P. shares owned while 21 reduced positions. 14 funds bought stakes while 21 increased positions. They now own 17.03 million shares or 6.75% less from 18.26 million shares in 2016Q1.
Moreover, Prudential Public Ltd Co has 0% invested in Alliance Resource Partners, L.P. (NASDAQ:ARLP) for 12,999 shares. Principal Finance Gru accumulated 188,460 shares or 0% of the stock. Ladenburg Thalmann Fincl Services Incorporated reported 10,469 shares or 0% of all its holdings. Lpl Fincl Llc has 27,555 shares for 0% of their US portfolio. Airain Ltd has 34,882 shares for 0.03% of their US portfolio. Riverpoint Mgmt Limited Com has 55,975 shares for 0.08% of their US portfolio. Architects holds 609 shares or 0% of its portfolio. Mcf Lc holds 0.01% of its portfolio in Alliance Resource Partners, L.P. (NASDAQ:ARLP) for 2,265 shares. Fifth Third Commercial Bank has invested 0% of its portfolio in Alliance Resource Partners, L.P. (NASDAQ:ARLP). First Manhattan Co has 313,149 shares for 0.03% of their US portfolio. Hillsdale Management, a Ontario – Canada-based fund reported 3,200 shares. Guggenheim Capital Ltd Llc accumulated 71,246 shares or 0% of the stock. The Kentucky-based Hl Serv Limited Com has invested 0% in Alliance Resource Partners, L.P. (NASDAQ:ARLP). Stifel Corporation last reported 254,492 shares in the company. Credit Suisse Ag reported 82,792 shares or 0% of all its holdings.

Insider Transactions: Since August 3, 2016, the stock had 0 insider purchases, and 1 insider sale for $328,709 net activity. Fouch Robert J sold $328,709 worth of stock or 17,000 shares.

More notable recent Alliance Resource Partners, L.P. (NASDAQ:ARLP) news were published by: Fool.com which released: “Why Alliance Resource Partners LP Stock Jumped 34.3% in April” on May 09, 2016, also Fool.com with their article: “Better Buy: Alliance Resource Partners LP vs. CONSOL Energy” published on October 04, 2016, Fool.com published: “Better Buy: Alliance Resource Partners LP vs. Westmoreland Coal” on April 23, 2016. More interesting news about Alliance Resource Partners, L.P. (NASDAQ:ARLP) were released by: Fool.com and their article: “Why Alliance Resource Partners LP Shares Advanced 10.95% in March” published on April 10, 2016 as well as Fool.com‘s news article titled: “Why Alliance Resource Partners LP and Alliance Holdings GP, LP Each Fell More …” with publication date: March 09, 2016.

ARLP Company Profile

Alliance Resource Partners, L.P., incorporated on May 17, 1999, is a producer and marketer of coal primarily to the United States utilities and industrial users. The Firm operates through divisions, including Illinois Basin, Appalachia, and Other and Corporate. The Firm operates approximately 10 underground mining complexes in Illinois, Indiana, Kentucky, Maryland and West Virginia. The Firm also operates a coal loading terminal on the Ohio River at Mt. Vernon, Indiana. The Company’s mining activities are conducted in approximately two geographic regions: the Illinois Basin and Appalachian region.

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