CVR Refining Downgraded to Neutral at Zacks (CVRR)
CVR Refining (NASDAQ:CVRR) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report released on Wednesday. They currently have a $28.90 price objective on the stock. Zacks‘s price target would indicate a potential upside of 14.46% from the stock’s previous close.
Shares of CVR Refining (NASDAQ:CVRR) traded up 1.19% on Wednesday, hitting $25.55. The stock had a trading volume of 687,266 shares. CVR Refining has a 52 week low of $20.16 and a 52 week high of $29.44. The stock’s 50-day moving average is $26.38 and its 200-day moving average is $23.81. The company has a market cap of $3.771 billion and a price-to-earnings ratio of 6.42.
CVR Refining (NASDAQ:CVRR) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.90. The company had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the previous year, the company posted $1.34 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts predict that CVR Refining will post $4.38 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on CVRR. Analysts at Goldman Sachs reiterated a “hold” rating on shares of CVR Refining in a research note on Wednesday, May 21st. They now have a $31.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of CVR Refining from $24.00 to $28.00 in a research note on Tuesday, May 6th. They now have an “equal weight” rating on the stock. Finally, analysts at TheStreet upgraded shares of CVR Refining from a “sell” rating to a “hold” rating in a research note on Wednesday, April 16th. Eight investment analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus target price of $27.32.
CVR Refining, LP is an energy limited partnership with refining and related logistics assets that operates in the mid-continent region.
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