Alon USA Energy Inc. (ALJ) Upgraded to “Outperform” at Credit Suisse Group AG
Alon USA Energy Inc. (NYSE:ALJ) was upgraded by stock analysts at Credit Suisse Group AG from a “neutral” rating to an “outperform” rating in a research report issued on Tuesday.
Several other research firms have also recently commented on ALJ. Piper Jaffray Cos. boosted their target price on Alon USA Energy from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Friday, September 16th. Zacks Investment Research upgraded Alon USA Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, September 20th. Barclays PLC restated an “equal weight” rating and issued a $10.00 target price (up previously from $8.00) on shares of Alon USA Energy in a research note on Monday. Finally, Citigroup Inc. began coverage on Alon USA Energy in a research note on Wednesday, September 14th. They issued a “buy” rating and a $10.50 target price on the stock. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $9.44.
Shares of Alon USA Energy (NYSE:ALJ) traded up 2.29% during midday trading on Tuesday, hitting $8.94. 1,296,301 shares of the stock traded hands. The firm’s 50 day moving average price is $8.13 and its 200 day moving average price is $8.10. Alon USA Energy has a 12-month low of $5.86 and a 12-month high of $18.27. The company’s market capitalization is $634.56 million.
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Alon USA Energy (NYSE:ALJ) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.02. Alon USA Energy had a negative net margin of 1.75% and a negative return on equity of 2.29%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $883.85 million. During the same quarter last year, the firm earned $0.67 EPS. The company’s revenue for the quarter was down 22.5% on a year-over-year basis. Analysts expect that Alon USA Energy will post ($1.08) EPS for the current year.
In other news, insider David Wiessman sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $7.03, for a total transaction of $527,250.00. Following the sale, the insider now owns 2,885,541 shares in the company, valued at approximately $20,285,353.23. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Michael Oster sold 18,500 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $7.33, for a total value of $135,605.00. Following the sale, the vice president now owns 47,553 shares in the company, valued at approximately $348,563.49. The disclosure for this sale can be found here. Insiders own 8.80% of the company’s stock.
Several large investors have recently made changes to their positions in ALJ. Van ECK Associates Corp boosted its stake in shares of Alon USA Energy by 31.6% in the second quarter. Van ECK Associates Corp now owns 17,965 shares of the company’s stock worth $116,000 after buying an additional 4,313 shares in the last quarter. Janus Capital Management LLC bought a new stake in shares of Alon USA Energy during the second quarter worth about $150,000. Zacks Investment Management bought a new stake in shares of Alon USA Energy during the second quarter worth about $160,000. Thompson Siegel & Walmsley LLC bought a new stake in shares of Alon USA Energy during the second quarter worth about $209,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Alon USA Energy by 8.3% in the second quarter. Public Employees Retirement System of Ohio now owns 35,582 shares of the company’s stock worth $231,000 after buying an additional 2,721 shares in the last quarter. Institutional investors own 50.46% of the company’s stock.
Alon USA Energy Company Profile
Alon USA Energy, Inc is an independent refiner and marketer of petroleum products, operating primarily in the South Central, Southwestern and Western regions of the United States. The Company operates through three segments: refining and marketing, asphalt and retail. Its refineries produce petroleum products, including various grades of gasoline, diesel fuel, jet fuel, petrochemicals, petrochemical feedstocks, asphalt and other petroleum-based products.
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