Alon USA Energy Price Target Cut to $8.00 (ALJ)
Stock analysts at Macquarie reduced their price objective on shares of Alon USA Energy (NYSE:ALJ) from $9.00 to $8.00 in a report issued on Thursday, Analyst Ratings Network.com reports. The firm currently has an “underperform” rating on the stock. Macquarie’s target price points to a potential downside of 21.18% from the stock’s previous close.
Alon USA Energy (NYSE:ALJ) traded down 1.07% during mid-day trading on Thursday, hitting $10.15. 447,306 shares of the company’s stock traded hands. Alon USA Energy has a 1-year low of $10.01 and a 1-year high of $21.24. The stock has a 50-day moving average of $11.38 and a 200-day moving average of $14.83. The company has a market cap of $633.8 million and a price-to-earnings ratio of 5.06.
Alon USA Energy (NYSE:ALJ) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.01. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was down 12.2% on a year-over-year basis. Analysts expect that Alon USA Energy will post $0.75 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Cowen and Company cut their price target on shares of Alon USA Energy (NYSE:ALJ) from $15.00 to $11.00 in a research note to investors on Wednesday. They now have a “market perform” rating on the stock. Separately, analysts at Morgan Stanley cut their price target on shares of Alon USA Energy (NYSE:ALJ) from $18.00 to $13.00 in a research note to investors on Tuesday. Finally, analysts at TheStreet downgraded shares of Alon USA Energy (NYSE:ALJ) to a “hold” rating in a research note to investors on Thursday, September 19th. Four investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The company presently has an average rating of “Hold” and an average price target of $14.33.
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.
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