Alon USA Partners LP (ALDW) Upgraded to Hold at Zacks Investment Research
According to Zacks, “Alon USA Partners, LP owns and operates refining and petroleum products marketing business. The Company’s integrated downstream business operates primarily in the South Central and Southwestern regions of the United States. It refines crude oil into finished products, which it market primarily in West Texas, Central Texas, Oklahoma, New Mexico and Arizona. Alon USA Partners, LP is based in Texas. “
A number of other brokerages have also recently issued reports on ALDW. Citigroup Inc. increased their target price on shares of Alon USA Partners from $10.80 to $11.50 and gave the stock a neutral rating in a research report on Wednesday, September 14th. TheStreet upgraded shares of Alon USA Partners from a sell rating to a hold rating in a research report on Wednesday, August 31st. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Alon USA Partners currently has an average rating of Hold and a consensus price target of $15.38.
Shares of Alon USA Partners (NYSE:ALDW) opened at 8.70 on Tuesday. Alon USA Partners has a 12 month low of $8.07 and a 12 month high of $26.67. The company’s 50 day moving average is $10.08 and its 200-day moving average is $10.18. The company has a market cap of $543.92 million, a P/E ratio of 10.14 and a beta of 0.97.
Alon USA Partners (NYSE:ALDW) last posted its earnings results on Thursday, July 28th. The company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by $0.07. The business earned $468.46 million during the quarter, compared to the consensus estimate of $417.45 million. Alon USA Partners had a return on equity of 38.88% and a net margin of 2.94%. The business’s revenue was down 25.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 earnings per share. Analysts expect that Alon USA Partners will post ($0.12) EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rafferty Asset Management LLC raised its position in Alon USA Partners by 1.0% in the first quarter. Rafferty Asset Management LLC now owns 96,659 shares of the company’s stock valued at $1,271,000 after buying an additional 965 shares during the last quarter. A.R.T. Advisors LLC purchased a new position in Alon USA Partners during the first quarter valued at $704,000. Creative Planning raised its position in Alon USA Partners by 27.0% in the second quarter. Creative Planning now owns 17,700 shares of the company’s stock valued at $179,000 after buying an additional 3,765 shares during the last quarter. Keel Point LLC raised its position in Alon USA Partners by 1.0% in the second quarter. Keel Point LLC now owns 45,741 shares of the company’s stock valued at $462,000 after buying an additional 437 shares during the last quarter. Finally, Sigma Planning Corp raised its position in Alon USA Partners by 14.1% in the second quarter. Sigma Planning Corp now owns 15,587 shares of the company’s stock valued at $157,000 after buying an additional 1,925 shares during the last quarter. 5.93% of the stock is currently owned by institutional investors and hedge funds.
About Alon USA Partners
Alon USA Partners, LP (Alon) is engaged principally in the business of operating a crude oil refinery in Big Spring, Texas, with a crude oil throughput capacity of approximately 73,000 barrels per day, which the Company refers to as its Big Spring refinery. The Company refines crude oil into finished products, which the Company markets primarily in Central and West Texas, Oklahoma, New Mexico and Arizona through its integrated wholesale distribution network to retail convenience stores and other third-party distributors.
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