Alembic Global Advisors Initiates Coverage on OCI Partners (OCIP)
Analysts at Alembic Global Advisors initiated coverage on shares of OCI Partners (NASDAQ:OCIP) in a research report issued to clients and investors on Monday. The firm set an “overweight” rating and a $30.00 price target on the stock. Alembic Global Advisors’ target price would suggest a potential upside of 40.65% from the company’s current price.
A number of other analysts have also recently weighed in on OCIP. Analysts at Zacks downgraded shares of OCI Partners from a “neutral” rating to an “underperform” rating in a research note on Tuesday, May 13th. They now have a $20.40 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of OCI Partners in a research note on Wednesday, April 9th. They now have a $25.00 price target on the stock, down previously from $27.00. Finally, analysts at Barclays downgraded shares of OCI Partners from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, April 1st. They now have a $26.00 price target on the stock, down previously from $30.00. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $25.35.
OCI Partners (NASDAQ:OCIP) traded up 0.42% on Monday, hitting $21.42. 12,087 shares of the company’s stock traded hands. OCI Partners has a 52-week low of $16.08 and a 52-week high of $28.73. The stock’s 50-day moving average is $20.82 and its 200-day moving average is $23.73. The company has a market cap of $1.724 billion and a P/E ratio of 55.55.
OCI Partners (NASDAQ:OCIP) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $0.36 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.48 by $0.12. On average, analysts predict that OCI Partners will post $1.70 earnings per share for the current fiscal year.
OCI Partners LP owns and operates an integrated methanol and ammonia production facility that is strategically located on the Texas Gulf Coast near Beaumont.
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