Alon USA Energy Inc. (ALJ) Stock Price Up 4.2% on Analyst Upgrade
Alon USA Energy Inc. (NYSE:ALJ)’s share price shot up 4.2% on Monday after Barclays PLC raised their price target on the stock from $8.00 to $10.00. Barclays PLC currently has an equal weight rating on the stock. Alon USA Energy traded as high as $8.81 and last traded at $8.71, with a volume of 498,680 shares. The stock had previously closed at $8.36.
A number of other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Alon USA Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Piper Jaffray Cos. increased their price objective on shares of Alon USA Energy from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Friday, September 16th. Citigroup Inc. began coverage on shares of Alon USA Energy in a research note on Wednesday, September 14th. They set a “buy” rating and a $10.50 price objective for the company. Finally, Credit Suisse Group AG restated a “hold” rating and set a $9.00 price objective on shares of Alon USA Energy in a research note on Friday, July 29th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $9.44.
In other Alon USA Energy news, insider David Wiessman sold 105,000 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $7.33, for a total value of $769,650.00. Following the transaction, the insider now directly owns 2,580,541 shares of the company’s stock, valued at approximately $18,915,365.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael Oster sold 18,500 shares of the stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $7.33, for a total transaction of $135,605.00. Following the completion of the transaction, the vice president now directly owns 47,553 shares in the company, valued at $348,563.49. The disclosure for this sale can be found here. 8.80% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALJ. Point72 Asset Management L.P. boosted its position in Alon USA Energy by 67.2% in the second quarter. Point72 Asset Management L.P. now owns 1,876,200 shares of the company’s stock valued at $12,158,000 after buying an additional 753,800 shares in the last quarter. Visium Asset Management LP boosted its position in Alon USA Energy by 2.5% in the second quarter. Visium Asset Management LP now owns 1,109,200 shares of the company’s stock valued at $7,188,000 after buying an additional 26,588 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Alon USA Energy by 202.5% in the second quarter. Ameriprise Financial Inc. now owns 937,153 shares of the company’s stock valued at $6,072,000 after buying an additional 627,363 shares in the last quarter. Prudential Financial Inc. boosted its position in Alon USA Energy by 65.4% in the second quarter. Prudential Financial Inc. now owns 794,531 shares of the company’s stock valued at $5,149,000 after buying an additional 314,100 shares in the last quarter. Finally, Deprince Race & Zollo Inc. bought a new position in Alon USA Energy during the second quarter valued at $4,031,000. 50.46% of the stock is currently owned by hedge funds and other institutional investors.
The firm’s 50-day moving average is $8.10 and its 200-day moving average is $8.16. The company’s market cap is $620.37 million.
Alon USA Energy (NYSE:ALJ) last posted its earnings results on Thursday, July 28th. The company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by $0.02. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $883.85 million. Alon USA Energy had a negative return on equity of 2.29% and a negative net margin of 1.75%. The business’s revenue was down 22.5% on a year-over-year basis. During the same period last year, the company posted $0.67 EPS. Equities analysts anticipate that Alon USA Energy Inc. will post ($1.08) earnings per share for the current year.
Alon USA Energy Company Profile
Alon USA Energy, Inc is an independent refiner and marketer of petroleum products, operating primarily in the South Central, Southwestern and Western regions of the United States. The Company operates through three segments: refining and marketing, asphalt and retail. Its refineries produce petroleum products, including various grades of gasoline, diesel fuel, jet fuel, petrochemicals, petrochemical feedstocks, asphalt and other petroleum-based products.
Receive News & Stock Ratings for Alon USA Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alon USA Energy Inc. and related stocks with our FREE daily email newsletter.