Alon USA Partners LP (ALDW) Given Underweight Rating at Barclays PLC
Alon USA Partners LP (NYSE:ALDW)‘s stock had its “underweight” rating restated by analysts at Barclays PLC in a research report issued to clients and investors on Monday. They presently have a $8.00 price target on the stock, down from their prior price target of $9.00. Barclays PLC’s target price suggests a potential downside of 7.19% from the stock’s current price.
A number of other research analysts have also issued reports on ALDW. Zacks Investment Research lowered shares of Alon USA Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. TheStreet raised shares of Alon USA Partners from a “sell” rating to a “hold” rating in a report on Wednesday, August 31st. Finally, Citigroup Inc. boosted their price objective on shares of Alon USA Partners from $10.80 to $11.50 and gave the stock a “neutral” rating in a report on Wednesday, September 14th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $14.38.
Shares of Alon USA Partners (NYSE:ALDW) traded up 1.53% during mid-day trading on Monday, hitting $8.62. 107,174 shares of the stock were exchanged. The company has a 50-day moving average of $9.94 and a 200 day moving average of $10.12. The stock has a market cap of $538.92 million, a PE ratio of 10.05 and a beta of 0.98. Alon USA Partners has a one year low of $8.07 and a one year high of $26.67.
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Alon USA Partners (NYSE:ALDW) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by $0.07. Alon USA Partners had a return on equity of 38.88% and a net margin of 2.94%. The firm had revenue of $468.46 million for the quarter, compared to analyst estimates of $417.45 million. During the same quarter last year, the firm earned $0.95 earnings per share. The company’s revenue was down 25.1% compared to the same quarter last year. On average, equities analysts predict that Alon USA Partners will post ($0.12) earnings per share for the current year.
Several hedge funds have recently made changes to their positions in ALDW. First Trust Advisors LP increased its stake in shares of Alon USA Partners by 178.8% in the second quarter. First Trust Advisors LP now owns 2,492,266 shares of the company’s stock valued at $25,147,000 after buying an additional 1,598,296 shares during the period. WealthTrust Axiom LLC increased its stake in shares of Alon USA Partners by 88.9% in the second quarter. WealthTrust Axiom LLC now owns 34,000 shares of the company’s stock valued at $343,000 after buying an additional 16,000 shares during the period. Commonwealth Equity Services Inc increased its stake in shares of Alon USA Partners by 19.4% in the second quarter. Commonwealth Equity Services Inc now owns 13,117 shares of the company’s stock valued at $132,000 after buying an additional 2,134 shares during the period. Arrow Investment Advisors LLC increased its stake in shares of Alon USA Partners by 87.6% in the second quarter. Arrow Investment Advisors LLC now owns 49,270 shares of the company’s stock valued at $497,000 after buying an additional 23,002 shares during the period. Finally, Rafferty Asset Management LLC increased its stake in shares of Alon USA Partners by 1.0% in the first quarter. Rafferty Asset Management LLC now owns 96,659 shares of the company’s stock valued at $1,271,000 after buying an additional 965 shares during the period. 5.93% of the stock is currently owned by institutional investors.
About Alon USA Partners
Alon USA Partners, LP (Alon) is engaged principally in the business of operating a crude oil refinery in Big Spring, Texas, with a crude oil throughput capacity of approximately 73,000 barrels per day, which the Company refers to as its Big Spring refinery. The Company refines crude oil into finished products, which the Company markets primarily in Central and West Texas, Oklahoma, New Mexico and Arizona through its integrated wholesale distribution network to retail convenience stores and other third-party distributors.
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