Martin Midstream Partners L.P. Cut to “Neutral” at Zacks (MMLP)
Martin Midstream Partners L.P. (NASDAQ:MMLP) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report released on Monday. They currently have a $45.20 target price on the stock. Zacks‘s price target points to a potential upside of 15.07% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Raymond James cut their price target on shares of Martin Midstream Partners L.P. from $45.00 to $43.00 in a research note on Friday, August 1st. They now have an “outperform” rating on the stock. Analysts at RBC Capital cut their price target on shares of Martin Midstream Partners L.P. from $48.00 to $44.00 in a research note on Friday, August 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Martin Midstream Partners L.P. has an average rating of “Buy” and a consensus price target of $50.70.
In other Martin Midstream Partners L.P. news, CEO Ruben S. Martin purchased 2,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were purchased at an average price of $39.00 per share, with a total value of $78,000.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
Martin Midstream Partners L.P. (NASDAQ:MMLP) traded up 0.03% on Monday, hitting $39.28. The stock had a trading volume of 62,812 shares. Martin Midstream Partners L.P. has a 52 week low of $35.75 and a 52 week high of $48.90. The stock’s 50-day moving average is $39.78 and its 200-day moving average is $41.25. The company’s market cap is $1.203 billion.
Martin Midstream Partners L.P. (NASDAQ:MMLP) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.37 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.34 by $0.03. On average, analysts predict that Martin Midstream Partners L.P. will post $1.39 earnings per share for the current fiscal year.
Martin Midstream Partners L.P. is a limited partnership with a diverse set of operations focused in the United States Gulf Coast region.
To view Zacks’ full report, visit Zacks’ official website.
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