Morgan Stanley Lowers Western Refining Price Target to $32.00 (WNR)
Equities research analysts at Morgan Stanley dropped their target price on shares of Western Refining (NYSE:WNR) from $43.00 to $32.00 in a research note issued to investors on Tuesday, AnalystRatingsNetwork reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 7.64% from the company’s current price.
Western Refining (NYSE:WNR) traded down 1.03% on Tuesday, hitting $29.73. The stock had a trading volume of 924,945 shares. Western Refining has a one year low of $23.67 and a one year high of $39.42. The stock has a 50-day moving average of $29.79 and a 200-day moving average of $30.62. The company has a market cap of $2.390 billion and a price-to-earnings ratio of 7.15.
Western Refining (NYSE:WNR) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.05. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts predict that Western Refining will post $3.44 earnings per share for the current fiscal year.
A number of other firms have also recently commented on WNR. Analysts at Zacks reiterated a “neutral” rating on shares of Western Refining (NYSE:WNR) in a research note to investors on Wednesday, September 18th. They now have a $30.00 price target on the stock. Separately, analysts at Imperial Capital raised their price target on shares of Western Refining (NYSE:WNR) from $30.00 to $31.00 in a research note to investors on Tuesday, August 6th. They now have an “in-line” rating on the stock. Finally, analysts at UBS AG raised their price target on shares of Western Refining (NYSE:WNR) from $32.00 to $33.00 in a research note to investors on Friday, August 2nd. They now have a “neutral” rating on the stock. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Western Refining currently has an average rating of “Hold” and a consensus price target of $36.20.
Western Refining, Inc (NYSE:WNR) is an independent crude oil refiner and marketer of refined products and also operates service stations and convenience stores.
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