Atlas Energy Solutions (NYSE:AESI) Lowered to "Hold" Rating by Raymond James

Raymond James downgraded shares of Atlas Energy Solutions (NYSE:AESI - Free Report) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. The Goldman Sachs Group initiated coverage on shares of Atlas Energy Solutions in a research report on Friday, December 13th. They issued a "neutral" rating and a $23.00 target price on the stock. Citigroup lowered Atlas Energy Solutions from a "buy" rating to a "neutral" rating and lowered their target price for the company from $23.00 to $22.00 in a research note on Thursday, November 14th. Pickering Energy Partners lowered Atlas Energy Solutions from an "outperform" rating to a "neutral" rating in a research report on Wednesday, October 30th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $25.00 price target on shares of Atlas Energy Solutions in a research note on Wednesday, October 30th. Finally, Barclays lowered Atlas Energy Solutions from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $23.00 to $19.00 in a research note on Tuesday, November 12th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.67.

Atlas Energy Solutions Price Performance

NYSE:AESI traded down $0.47 during trading hours on Monday, hitting $21.94. 858,978 shares of the company's stock traded hands, compared to its average volume of 667,311. Atlas Energy Solutions has a 52 week low of $15.55 and a 52 week high of $24.93. The business's fifty day simple moving average is $22.01 and its two-hundred day simple moving average is $21.13. 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 cap of $2.42 billion, a P/E ratio of 27.77, a P/E/G ratio of 11.53 and a beta of 1.03.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last announced its 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 company had revenue of $304.40 million for the quarter, compared to the consensus estimate of $307.93 million. Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The company's revenue for the quarter was up 93.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 earnings per share. On average, research analysts anticipate that Atlas Energy Solutions will post 0.88 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were paid a dividend of $0.24 per share. This is a positive change from Atlas Energy Solutions's previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend was Thursday, November 7th. Atlas Energy Solutions's dividend payout ratio (DPR) is currently 121.52%.

Insider Activity

In related news, major shareholder Brian Anthony Leveille sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $23.00, for a total value of $115,000.00. Following the sale, the insider now owns 404,510 shares in the company, valued at approximately $9,303,730. This trade represents a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Stacy Hock sold 8,571 shares of the business's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $21.12, for a total transaction of $181,019.52. Following the sale, the insider now owns 926,175 shares of the company's stock, valued at approximately $19,560,816. This represents a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 60,869 shares of company stock worth $1,187,983 and have sold 129,642 shares worth $2,890,121. Corporate insiders own 24.34% of the company's stock.

Hedge Funds Weigh In On Atlas Energy Solutions

Institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP bought a new stake in Atlas Energy Solutions during the third quarter valued at about $17,314,000. Marshall Wace LLP bought a new position in shares of Atlas Energy Solutions during the 2nd quarter valued at approximately $8,898,000. First Sabrepoint Capital Management LP purchased a new stake in Atlas Energy Solutions in the 3rd quarter worth approximately $8,066,000. Copeland Capital Management LLC increased its holdings in Atlas Energy Solutions by 19.8% in the 3rd quarter. Copeland Capital Management LLC now owns 1,884,032 shares of the company's stock worth $41,072,000 after acquiring an additional 311,228 shares in the last quarter. Finally, State Street Corp raised its stake 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 worth $38,173,000 after acquiring an additional 227,776 shares during the period. 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.