Royal Bank of Canada Forecasts Strong Price Appreciation for Atlas Energy Solutions (NYSE:AESI) Stock

Atlas Energy Solutions (NYSE:AESI) had its target price raised by equities research analysts at Royal Bank of Canada from $27.00 to $28.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 8.34% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. Bank of America reissued a “neutral” rating and issued a $22.50 price target on shares of Atlas Energy Solutions in a research report on Monday, January 13th. The Goldman Sachs Group assumed coverage on shares of Atlas Energy Solutions in a report on Friday, December 13th. They set a “neutral” rating and a $23.00 price objective for the company. Pickering Energy Partners lowered shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Raymond James cut shares of Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Finally, Citigroup lowered Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $22.00 in a report on Thursday, November 14th. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Atlas Energy Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $24.83.

Atlas Energy Solutions Stock Up 4.7 %

Shares of NYSE AESI traded up $1.16 during trading on Tuesday, hitting $25.85. 630,860 shares of the company traded hands, compared to its average volume of 954,824. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 32.72, a P/E/G ratio of 6.98 and a beta of 1.03. The business’s fifty day moving average is $22.82 and its 200 day moving average is $21.45. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. Atlas Energy Solutions has a fifty-two week low of $16.42 and a fifty-two week high of $26.86.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.25). The firm had revenue of $304.40 million during the quarter, compared to the consensus estimate of $307.93 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The firm’s revenue was up 93.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 EPS. Equities research analysts predict that Atlas Energy Solutions will post 0.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Brian Anthony Leveille sold 20,000 shares of Atlas Energy Solutions stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $21.39, for a total value of $427,800.00. Following the sale, the insider now owns 512,010 shares of the company’s stock, valued at approximately $10,951,893.90. The trade was a 3.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $22.55, for a total value of $193,276.05. Following the transaction, the insider now directly owns 917,604 shares of the company’s stock, valued at approximately $20,691,970.20. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 132,142 shares of company stock worth $2,993,921. 24.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On Atlas Energy Solutions

Several large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new position in shares of Atlas Energy Solutions in the third quarter worth about $17,314,000. First Sabrepoint Capital Management LP bought a new position in Atlas Energy Solutions in the 3rd quarter worth approximately $8,066,000. Copeland Capital Management LLC grew its stake in Atlas Energy Solutions by 19.3% in the 4th quarter. Copeland Capital Management LLC now owns 2,247,774 shares of the company’s stock valued at $49,856,000 after buying an additional 363,742 shares in the last quarter. State Street Corp raised its holdings in Atlas Energy Solutions by 15.0% during the 3rd quarter. State Street Corp now owns 1,751,059 shares of the company’s stock valued at $38,173,000 after acquiring an additional 227,776 shares during the period. Finally, Barclays PLC lifted its position in shares of Atlas Energy Solutions by 574.5% during the third quarter. Barclays PLC now owns 175,082 shares of the company’s stock worth $3,817,000 after acquiring an additional 149,126 shares in the last quarter. Hedge funds and other institutional investors own 34.59% of the company’s stock.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.