Tesoro Logistics LP Downgraded to “Underperform” at Zacks (TLLP)
Tesoro Logistics LP (NASDAQ:TLLP) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Tuesday, AnalystRatings.Net reports. They currently have a $54.90 price objective on the stock. Zacks‘ price target indicates a potential downside of 3.57% from the company’s current price.
Tesoro Logistics LP (NASDAQ:TLLP) traded down 0.81% during mid-day trading on Tuesday, hitting $56.47. The stock had a trading volume of 26,599 shares. Tesoro Logistics LP has a 52-week low of $41.26 and a 52-week high of $71.92. The stock has a 50-day moving average of $55.97 and a 200-day moving average of $56.9. The company has a market cap of $2.653 billion and a price-to-earnings ratio of 34.67.
Tesoro Logistics LP (NASDAQ:TLLP) last announced its earnings results on Monday, August 5th. The company reported $0.36 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.68 by $0.32. The company had revenue of $59.88 million for the quarter, compared to the consensus estimate of $89.57 million.
Several other analysts have also recently commented on the stock. Analysts at Oppenheimer initiated coverage on shares of Tesoro Logistics LP in a research note to investors on Tuesday, September 3rd. They set an “outperform” rating and a $61.00 price target on the stock. Separately, analysts at Barclays Capital cut their price target on shares of Tesoro Logistics LP from $68.00 to $66.00 in a research note to investors on Monday, August 12th. Finally, analysts at RBC Capital cut their price target on shares of Tesoro Logistics LP from $71.00 to $63.00 in a research note to investors on Wednesday, August 7th. They now have an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $59.21.
Tesoro Logistics LP is a fee-based Delaware limited partnership formed by Tesoro Corporation (NASDAQ:TLLP) to own, operate, develop and acquire crude oil and refined products logistics assets.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.