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Weakness Seen in Arch Coal (ACI): Stock Tumbles 8.5%
April 23, 2014
Arch Coal Inc. saw a big move last session, as the company’s shares fell by over 8% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the most recent downtrend for ACI as the stock is now down over 12% since April 8.
This slump shouldn’t be too much of a surprise to investors, as the coal company has seen 7 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
Arch Coal currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 2.38%.
Some better-ranked stocks in the same sector include Rhino Resource Partners LP , Westmoreland Coal Co. ( WLB - Snapshot Report) and Oxford Resource Partners, L.P. . Rhino Resource Partners and Oxford Resource Partners carry a Zacks Rank #1 (Strong Buy) while Westmoreland Coal carries Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> ARCH COAL INC : Free Stock Analysis Report RHINO RESOURCES INC : Free Stock Analysis Report WESTMORELAND COAL CO ( WLB - Snapshot Report
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OXFORD RESOURCE PARTNERS LP : Free Stock Analysis Report Zacks Investment Research