Atlas Energy Solutions (NYSE:AESI) Given New $28.00 Price Target at Benchmark

Atlas Energy Solutions (NYSE:AESI) had its price objective lifted by Benchmark from $23.00 to $28.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms also recently commented on AESI. Pickering Energy Partners downgraded Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. The Goldman Sachs Group began coverage on shares of Atlas Energy Solutions in a research note on Friday, December 13th. They set a “neutral” rating and a $23.00 price target for the company. Bank of America reaffirmed a “neutral” rating and issued a $22.50 price objective on shares of Atlas Energy Solutions in a research note on Monday, January 13th. Citigroup downgraded shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $23.00 to $22.00 in a research report on Thursday, November 14th. Finally, Royal Bank of Canada upped their target price on shares of Atlas Energy Solutions from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Tuesday. Six analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.06.

Atlas Energy Solutions Stock Performance

NYSE:AESI opened at $25.03 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $2.76 billion, a P/E ratio of 31.68, a P/E/G ratio of 6.98 and a beta of 1.03. The company has a fifty day moving average of $22.97 and a 200-day moving average of $21.51. Atlas Energy Solutions has a twelve month low of $16.42 and a twelve month high of $26.86.

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

Insiders Place Their Bets

In related news, major shareholder Brian Anthony Leveille sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $21.39, for a total value of $427,800.00. Following the transaction, the insider now owns 512,010 shares in the company, valued at approximately $10,951,893.90. This represents a 3.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $21.12, for a total value of $181,019.52. Following the transaction, the insider now directly owns 926,175 shares of the company’s stock, valued at approximately $19,560,816. This trade represents a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 144,642 shares of company stock valued at $3,299,671. Insiders own 24.34% of the company’s stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Several large investors have recently modified their holdings of the business. Wellington Management Group LLP bought a new position in Atlas Energy Solutions in the 3rd quarter valued at $17,314,000. First Sabrepoint Capital Management LP bought a new position in shares of Atlas Energy Solutions in the 3rd quarter worth $8,066,000. Copeland Capital Management LLC raised its position in shares of Atlas Energy Solutions by 19.3% during 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 lifted its holdings in shares of Atlas Energy Solutions by 15.0% during the 3rd quarter. State Street Corp now owns 1,751,059 shares of the company’s stock worth $38,173,000 after acquiring an additional 227,776 shares during the last quarter. Finally, Barclays PLC grew its position in Atlas Energy Solutions by 574.5% in 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.