Royal Bank of Canada Cuts Atlas Energy Solutions (NYSE:AESI) Price Target to $25.00

Atlas Energy Solutions (NYSE:AESI - Free Report) had its price objective lowered by Royal Bank of Canada from $28.00 to $25.00 in a research report report published on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other analysts also recently commented on AESI. The Goldman Sachs Group began coverage on Atlas Energy Solutions in a research note on Friday, December 13th. They set a "neutral" rating and a $23.00 target price on the stock. Benchmark dropped their price target on Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday. Citigroup downgraded Atlas Energy Solutions from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $23.00 to $22.00 in a research note on Thursday, November 14th. Barclays raised their price target on Atlas Energy Solutions from $19.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 30th. Finally, Bank of America restated a "neutral" rating and issued a $22.50 price target on shares of Atlas Energy Solutions in a research note on Monday, January 13th. Six research 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 company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $24.83.

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Atlas Energy Solutions Stock Down 0.8 %

AESI traded down $0.15 during trading on Wednesday, hitting $19.38. 1,486,488 shares of the company's stock traded hands, compared to its average volume of 1,614,755. The company's 50 day simple moving average is $22.33 and its two-hundred day simple moving average is $21.67. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions has a 12-month low of $17.49 and a 12-month high of $26.86. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 24.53 and a beta of 1.03.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last issued its earnings results on Monday, February 24th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.12). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The business had revenue of $271.34 million for the quarter, compared to analysts' expectations of $272.94 million. Analysts predict that Atlas Energy Solutions will post 0.83 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were given a dividend of $0.25 per share. The ex-dividend date was Friday, February 21st. This is an increase from Atlas Energy Solutions's previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 5.16%. Atlas Energy Solutions's payout ratio is 178.57%.

Insider Activity at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 10,000 shares of the firm's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $21.96, for a total transaction of $219,600.00. Following the sale, the insider now directly owns 907,604 shares of the company's stock, valued at $19,930,983.84. This trade represents a 1.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Brian Anthony Leveille sold 12,500 shares of the firm's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $24.46, for a total value of $305,750.00. Following the sale, the insider now directly owns 362,010 shares in the company, valued at approximately $8,854,764.60. This represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,071 shares of company stock worth $1,773,251. Corporate insiders own 24.34% of the company's stock.

Institutional Investors Weigh In On Atlas Energy Solutions

Large investors have recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC increased its stake in Atlas Energy Solutions by 62.9% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company's stock worth $30,000 after acquiring an additional 523 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Atlas Energy Solutions by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,931 shares of the company's stock valued at $979,000 after purchasing an additional 711 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Atlas Energy Solutions by 307.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company's stock valued at $31,000 after purchasing an additional 1,047 shares in the last quarter. Wilmington Savings Fund Society FSB raised its stake in Atlas Energy Solutions by 8.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 14,770 shares of the company's stock valued at $328,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Quarry LP bought a new position in Atlas Energy Solutions during the fourth quarter valued at $27,000. 34.59% of the stock is owned by institutional investors.

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.