Atlas Energy Solutions Inc. (NYSE:AESI) Receives $24.67 Consensus Target Price from Brokerages

Atlas Energy Solutions Inc. (NYSE:AESI) has been given a consensus rating of “Moderate Buy” by the twelve analysts that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $24.67.

AESI has been the topic of a number of recent research reports. Citigroup cut shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $22.00 in a report 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 reiterated an “outperform” rating and set a $25.00 price objective on shares of Atlas Energy Solutions in a research note on Wednesday, October 30th. Barclays cut Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $23.00 to $19.00 in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group initiated coverage on Atlas Energy Solutions in a research report on Friday, December 13th. They issued a “neutral” rating and a $23.00 price target for the company.

Atlas Energy Solutions Trading Down 1.2 %

NYSE AESI opened at $21.98 on Tuesday. The firm has a market capitalization of $2.42 billion, a PE ratio of 27.82, a P/E/G ratio of 11.53 and a beta of 0.96. The stock’s 50 day moving average is $21.66 and its 200 day moving average is $20.99. Atlas Energy Solutions has a twelve month low of $15.55 and a twelve month high of $24.93. The company has a quick ratio of 1.08, a current ratio of 1.23 and a debt-to-equity ratio of 0.42.

Atlas Energy Solutions (NYSE:AESI) last announced its earnings results on Monday, October 28th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25). The business 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 business’s quarterly revenue was up 93.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 EPS. Research analysts forecast that Atlas Energy Solutions will post 0.88 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were paid a $0.24 dividend. The ex-dividend date was Thursday, November 7th. 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 dividend yield of 4.37%. Atlas Energy Solutions’s payout ratio is currently 121.52%.

Insider Activity at Atlas Energy Solutions

In related news, major shareholder Brian Anthony Leveille sold 10,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $20.50, for a total transaction of $205,000.00. Following the completion of the sale, the insider now owns 542,010 shares in the company, valued at approximately $11,111,205. This represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Gregory M. Shepard bought 1,797 shares of the company’s stock in a transaction on Friday, October 18th. The stock was purchased at an average cost of $19.65 per share, for a total transaction of $35,311.05. Following the completion of the transaction, the insider now directly owns 7,507,194 shares of the company’s stock, valued at approximately $147,516,362.10. The trade was a 0.02 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 60,869 shares of company stock worth $1,187,983 and have sold 133,213 shares worth $2,959,311. 24.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AESI. Quest Partners LLC bought a new stake in shares of Atlas Energy Solutions during the 3rd quarter valued at $48,000. Amalgamated Bank grew its holdings in Atlas Energy Solutions by 328.1% during the second quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock valued at $47,000 after purchasing an additional 1,801 shares during the period. FMR LLC increased its position in Atlas Energy Solutions by 101.0% in the third quarter. FMR LLC now owns 2,696 shares of the company’s stock worth $59,000 after buying an additional 1,355 shares in the last quarter. CWM LLC raised its stake in shares of Atlas Energy Solutions by 47.1% in the third quarter. CWM LLC now owns 2,766 shares of the company’s stock worth $60,000 after buying an additional 886 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Atlas Energy Solutions during the 2nd quarter valued at about $74,000. 34.59% of the stock is currently 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.