BidaskClub Downgrades PBF Logistics LP (PBFX) to Buy
PBF Logistics LP (NYSE:PBFX) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.
A number of other equities research analysts have also commented on the company. Zacks Investment Research lowered PBF Logistics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 10th. ValuEngine raised PBF Logistics from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. TheStreet raised PBF Logistics from a “d” rating to a “c” rating in a research report on Tuesday, May 30th. Finally, Credit Suisse Group set a $24.00 price target on PBF Logistics and gave the stock a “hold” rating in a research report on Saturday, August 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $24.00.
Shares of PBF Logistics (PBFX) opened at 21.25 on Thursday. PBF Logistics has a 12-month low of $17.45 and a 12-month high of $22.70. The firm’s 50-day moving average price is $21.05 and its 200 day moving average price is $20.57. The firm has a market cap of $890.21 million, a P/E ratio of 9.62 and a beta of 1.32.
PBF Logistics (NYSE:PBFX) last released its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.09. The business had revenue of $62.30 million for the quarter, compared to analyst estimates of $58.69 million. PBF Logistics had a return on equity of 62.40% and a net margin of 39.25%. The company’s revenue for the quarter was up 53.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 EPS. On average, equities analysts expect that PBF Logistics will post $2.32 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its position in PBF Logistics by 9.5% in the 1st 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 last quarter. GSA Capital Partners LLP raised its position in PBF Logistics by 9.1% in the 2nd 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 last quarter. M&T Bank Corp acquired a new stake in PBF Logistics in the 1st quarter valued at approximately $505,000. Fort Washington Investment Advisors Inc. OH raised its position in PBF Logistics by 11.7% in the 2nd 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 last quarter. Finally, Bank of Montreal Can acquired a new stake in PBF Logistics in the 1st quarter valued at approximately $539,000. 42.48% of the stock is currently owned by institutional investors and hedge funds.
About PBF Logistics
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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