Seven Eight Capital LP Takes Position in Arch Resources, Inc. (NYSE:ARCH)

Seven Eight Capital LP purchased a new position in Arch Resources, Inc. (NYSE:ARCH) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,116 shares of the energy company’s stock, valued at approximately $340,000.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Arch Resources by 13.9% in the first quarter. Vanguard Group Inc. now owns 2,347,568 shares of the energy company’s stock valued at $377,465,000 after purchasing an additional 286,359 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Arch Resources by 22.1% in the first quarter. ProShare Advisors LLC now owns 3,639 shares of the energy company’s stock valued at $585,000 after acquiring an additional 658 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in shares of Arch Resources by 28.4% in the first quarter. Avantax Advisory Services Inc. now owns 1,874 shares of the energy company’s stock valued at $301,000 after acquiring an additional 414 shares in the last quarter. Headlands Technologies LLC purchased a new position in Arch Resources in the first quarter valued at $69,000. Finally, Sei Investments Co. increased its holdings in Arch Resources by 15.1% in the first quarter. Sei Investments Co. now owns 14,874 shares of the energy company’s stock valued at $2,392,000 after buying an additional 1,956 shares during the last quarter. Institutional investors and hedge funds own 88.14% of the company’s stock.

Arch Resources Price Performance

ARCH stock opened at $146.65 on Thursday. The firm has a 50 day moving average of $161.16 and a 200-day moving average of $164.63. Arch Resources, Inc. has a 12-month low of $111.52 and a 12-month high of $187.60. The company has a current ratio of 2.64, a quick ratio of 1.89 and a debt-to-equity ratio of 0.07. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 8.63 and a beta of 0.63.

Arch Resources (NYSE:ARCH) last posted its quarterly earnings results on Monday, April 29th. The energy company reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.19. Arch Resources had a net margin of 10.89% and a return on equity of 22.32%. The company had revenue of $680.19 million during the quarter, compared to the consensus estimate of $596.52 million. During the same period last year, the firm earned $10.02 EPS. The company’s revenue for the quarter was down 21.8% on a year-over-year basis. As a group, equities analysts expect that Arch Resources, Inc. will post 13.27 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on ARCH shares. Citigroup reaffirmed a “neutral” rating and set a $170.00 price objective (down previously from $185.00) on shares of Arch Resources in a report on Thursday, April 18th. BMO Capital Markets reissued a “market perform” rating and set a $165.00 price target (down previously from $180.00) on shares of Arch Resources in a report on Wednesday, April 10th. Benchmark reissued a “buy” rating and set a $180.00 price target on shares of Arch Resources in a report on Monday, April 22nd. Finally, B. Riley lowered their price target on Arch Resources from $198.00 to $193.00 and set a “buy” rating on the stock in a report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $177.00.

About Arch Resources

Arch Resources, Inc engages in the production and sale of metallurgical products. It operates in two segments, Metallurgical and Thermal. The company operates active mines. It owned or controlled primarily through long-term leases of coal land in Ohio, Maryland, Virginia, West Virginia, Wyoming, Kentucky, Montana, Pennsylvania, Colorado, and Illinois; and smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas.