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 report issued on Tuesday, The Fly reports.
A number of other equities analysts have also recently commented on the stock. Piper Jaffray Cos. lifted their price objective on shares of Alon USA Energy from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Friday, September 16th. Zacks Investment Research raised shares of Alon USA Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 19th. Citigroup Inc. began coverage on shares of Alon USA Energy in a research note on Wednesday, September 14th. They issued a “buy” rating and a $10.50 price objective for the company. Finally, Barclays PLC reissued an “equal weight” rating and issued a $10.00 price objective (up from $8.00) on shares of Alon USA Energy in a research note on Monday. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $9.44.
Alon USA Energy (NYSE:ALJ) opened at 8.74 on Tuesday. The stock has a 50 day moving average of $8.13 and a 200 day moving average of $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 cap is $620.37 million.
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Alon USA Energy (NYSE:ALJ) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by $0.02. The company earned $1.01 billion during the quarter, compared to the consensus estimate of $883.85 million. Alon USA Energy had a negative net margin of 1.75% and a negative return on equity of 2.29%. The business’s revenue was down 22.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Equities analysts expect that Alon USA Energy will post ($1.08) earnings per share for the current year.
In other Alon USA Energy news, insider David Wiessman sold 105,000 shares of the business’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $7.33, for a total value of $769,650.00. Following the completion of the sale, the insider now directly owns 2,580,541 shares of the company’s stock, valued at approximately $18,915,365.53. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Michael Oster sold 18,500 shares of the business’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $7.33, for a total transaction of $135,605.00. Following the completion of the sale, the vice president now directly owns 47,553 shares of the company’s stock, valued at $348,563.49. The disclosure for this sale can be found here. Corporate insiders own 8.80% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in ALJ. Point72 Asset Management L.P. boosted its stake in Alon USA Energy by 67.2% in the second quarter. Point72 Asset Management L.P. now owns 1,876,200 shares of the company’s stock valued at $12,158,000 after buying an additional 753,800 shares during the period. Visium Asset Management LP boosted its stake in Alon USA Energy by 2.5% in the second quarter. Visium Asset Management LP now owns 1,109,200 shares of the company’s stock valued at $7,188,000 after buying an additional 26,588 shares during the period. Ameriprise Financial Inc. boosted its stake in Alon USA Energy by 202.5% in the second quarter. Ameriprise Financial Inc. now owns 937,153 shares of the company’s stock valued at $6,072,000 after buying an additional 627,363 shares during the period. Prudential Financial Inc. boosted its stake in Alon USA Energy by 65.4% in the second quarter. Prudential Financial Inc. now owns 794,531 shares of the company’s stock valued at $5,149,000 after buying an additional 314,100 shares during the period. Finally, Deprince Race & Zollo Inc. bought a new stake in Alon USA Energy during the second quarter valued at about $4,031,000. 50.46% of the stock is owned by institutional investors.
About Alon USA Energy
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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