Alon USA Energy Inc. (ALJ) Upgraded by Zacks Investment Research to “Hold”
Alon USA Energy Inc. (NYSE:ALJ) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Alon USA Energy, Inc. is an independent refiner and marketer of petroleum products, operating primarily in the Southwestern and South Central regions of the United States. Alon markets gasoline and diesel products under the FINA brand name and is a leading producer of asphalt in the State of Texas. The Company also operates convenience stores in West Texas and New Mexico under the 7-Eleven and FINA brand names and supplies motor fuels to these stores from its Big Spring refinery. “
ALJ has been the topic of a number of other reports. Wells Fargo & Co. restated a “hold” rating on shares of Alon USA Energy in a research report on Sunday, July 10th. Barclays PLC upgraded Alon USA Energy from an “underweight” rating to an “equal weight” rating and dropped their target price for the company from $10.00 to $8.00 in a research report on Wednesday, July 13th. Credit Suisse Group AG restated a “hold” rating and set a $9.00 target price on shares of Alon USA Energy in a research report on Friday, July 29th. Piper Jaffray Cos. raised their target price on Alon USA Energy from $4.00 to $5.00 and gave the company an “underweight” rating in a research report on Monday, August 22nd. Finally, Citigroup Inc. began coverage on Alon USA Energy in a research report on Wednesday, September 14th. They set a “buy” rating and a $10.50 target price on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $9.63.
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Alon USA Energy (NYSE:ALJ) traded down 1.65% during midday trading on Wednesday, hitting $8.92. The company had a trading volume of 824,224 shares. The company has a 50 day moving average price of $8.18 and a 200 day moving average price of $8.11. The firm’s market capitalization is $633.14 million. Alon USA Energy has a 1-year low of $5.86 and a 1-year high of $18.27.
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 Zacks’ consensus estimate of ($0.19) by $0.02. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 22.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.67 EPS. Equities research analysts forecast that Alon USA Energy will post ($1.08) earnings per share for the current fiscal year.
In other news, VP Michael Oster sold 18,500 shares of the business’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 transaction of $135,605.00. Following the transaction, the vice president now directly owns 47,553 shares in the company, valued at approximately $348,563.49. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider David Wiessman sold 175,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $6.90, for a total value of $1,207,500.00. Following the transaction, the insider now owns 2,910,541 shares in the company, valued at $20,082,732.90. The disclosure for this sale can be found here. Insiders own 8.80% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp boosted its position 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 valued at $116,000 after buying an additional 4,313 shares in the last quarter. Janus Capital Management LLC bought a new position in shares of Alon USA Energy during the second quarter valued at $150,000. Zacks Investment Management bought a new position in shares of Alon USA Energy during the second quarter valued at $160,000. Thompson Siegel & Walmsley LLC bought a new position in shares of Alon USA Energy during the second quarter valued at $209,000. Finally, Public Employees Retirement System of Ohio boosted its position 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 valued at $231,000 after buying an additional 2,721 shares in the last quarter. Institutional investors and hedge funds 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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