PBF Logistics LP (PBFX) Upgraded to “Strong-Buy” by BidaskClub
PBF Logistics LP (NYSE:PBFX) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut PBF Logistics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. TheStreet raised PBF Logistics from a “d” rating to a “c” rating in a research note on Tuesday, May 30th. ValuEngine raised PBF Logistics from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Credit Suisse Group set a $24.00 price target on PBF Logistics and gave the stock a “hold” rating in a research note on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $24.00.
PBF Logistics (PBFX) traded down 0.0060% during trading on Wednesday, hitting $21.7987. 2,228 shares of the company traded hands. PBF Logistics has a 52-week low of $17.45 and a 52-week high of $22.70. The firm has a market cap of $913.19 million, a price-to-earnings ratio of 9.8681 and a beta of 1.34. The company’s 50-day moving average is $20.50 and its 200 day moving average is $20.47.
PBF Logistics (NYSE:PBFX) last released its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.49 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.09. PBF Logistics had a return on equity of 62.40% and a net margin of 39.25%. The business had revenue of $62.30 million during the quarter, compared to the consensus estimate of $58.69 million. During the same period in the previous year, the company posted $0.41 EPS. The company’s revenue for the quarter was up 53.1% compared to the same quarter last year. On average, equities analysts anticipate that PBF Logistics will post $2.32 earnings per share for the current year.
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Several hedge funds have recently made changes to their positions in PBFX. Tower Research Capital LLC TRC raised its stake in shares of PBF Logistics by 9.5% in the first quarter. Tower Research Capital LLC TRC now owns 5,851 shares of the pipeline company’s stock valued at $126,000 after buying an additional 508 shares during the period. GSA Capital Partners LLP raised its stake in shares of PBF Logistics by 9.1% in the second quarter. GSA Capital Partners LLP now owns 13,314 shares of the pipeline company’s stock valued at $260,000 after buying an additional 1,114 shares during the period. M&T Bank Corp purchased a new stake in shares of PBF Logistics during the first quarter valued at $505,000. Fort Washington Investment Advisors Inc. OH raised its stake in shares of PBF Logistics by 11.7% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 24,900 shares of the pipeline company’s stock valued at $486,000 after buying an additional 2,600 shares during the period. Finally, Bank of Montreal Can purchased a new stake in shares of PBF Logistics during the first quarter valued at $539,000. Institutional investors and hedge funds own 42.48% of the company’s stock.
PBF Logistics Company Profile
PBF Logistics LP owns or leases, operates, develops and acquires crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets. The Company operates through two segments: Transportation and Terminaling, and Storage. The Transportation and Terminaling segment consists of various assets, including Delaware City Rail Unloading Terminal (DCR Rail Terminal), Toledo Truck Unloading Terminal (Toledo Truck Terminal), Delaware City West Heavy Unloading Rack (the DCR West Rack), East Coast Terminals and Torrance Valley Pipeline.
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