Oiltanking Partners Upgraded to “Outperform” by Zacks (OILT)
Oiltanking Partners (NASDAQ:OILT) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued on Wednesday. The firm currently has a $53.20 price target on the stock. Zacks‘s price objective would suggest a potential upside of 8.46% from the stock’s previous close.
Shares of Oiltanking Partners (NASDAQ:OILT) traded up 1.09% during mid-day trading on Wednesday, hitting $49.585. 18,345 shares of the company’s stock traded hands. Oiltanking Partners has a 52-week low of $23.775 and a 52-week high of $51.92. The stock has a 50-day moving average of $47.24 and a 200-day moving average of $41.81. The company has a market cap of $4.122 billion and a price-to-earnings ratio of 36.31.
Oiltanking Partners (NASDAQ:OILT) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.37 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.70 by $0.33. The company had revenue of $69.10 million for the quarter, compared to the consensus estimate of $63.30 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. The company’s quarterly revenue was up 32.6% on a year-over-year basis. Analysts expect that Oiltanking Partners will post $1.46 EPS for the current fiscal year.
A number of other firms have also recently commented on OILT. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Oiltanking Partners in a research note on Wednesday, July 23rd. They now have a $57.00 price target on the stock, up previously from $47.50. Separately, analysts at RBC Capital raised their price target on shares of Oiltanking Partners from $43.00 to $48.00 in a research note on Monday, June 30th. They now have a “sector perform” rating on the stock. Finally, analysts at Barclays reiterated an “overweight” rating on shares of Oiltanking Partners in a research note on Thursday, June 26th. They now have a $50.00 price target on the stock, up previously from $45.00. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $45.81.
Oiltanking Partners, L.P. (NASDAQ:OILT) is engaged in the terminaling, storage and transportation of crude oil, refined petroleum products and liquefied petroleum gas.
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