The firm lowered its rating on the company, and cut its price target on the stock to $19 from $23, based on "lower realized coal prices" and its estimates cost pressures will continue into the future.
Other stocks declining as a result of the downgrade include Alpha Natural Resources (ANR), down by -4.52% to $3.59, Rhino Resource Partners (RNO), down by -1.20% to $14.02 and Walter Energy Inc. (WLT), lower by -2.29% to $6.18.
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Separately, TheStreet Ratings team rates ARCH COAL INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate ARCH COAL INC (ACI) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, disappointing return on equity, poor profit margins, weak operating cash flow and generally high debt management risk."