Alon USA Partners LP (ALDW) Lifted to “Buy” at Zacks Investment Research
Alon USA Partners LP (NYSE:ALDW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $9.50 target price on the stock. Zacks Investment Research’s price target suggests a potential upside of 10.98% from the stock’s previous close.
According to Zacks, “Alon USA Partners, LP owns and operates refining and petroleum products marketing business. The Company’s integrated downstream business operates primarily in the South Central and Southwestern regions of the United States. It refines crude oil into finished products, which it market primarily in West Texas, Central Texas, Oklahoma, New Mexico and Arizona. Alon USA Partners, LP is based in Texas. “
A number of other research analysts have also recently issued reports on ALDW. Barclays PLC restated an “underweight” rating and set a $8.00 price objective (down previously from $9.00) on shares of Alon USA Partners in a report on Monday. TheStreet upgraded 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 company a “neutral” rating in a report on Wednesday, September 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Alon USA Partners presently has an average rating of “Hold” and a consensus price target of $10.50.
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Alon USA Partners (NYSE:ALDW) traded up 1.54% on Wednesday, hitting $8.56. 131,932 shares of the stock were exchanged. The stock has a market capitalization of $535.17 million, a P/E ratio of 9.98 and a beta of 0.97. Alon USA Partners has a one year low of $8.07 and a one year high of $26.67. The company has a 50 day moving average of $9.84 and a 200 day moving average of $10.02.
Alon USA Partners (NYSE:ALDW) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.07. The firm had revenue of $468.46 million for the quarter, compared to analyst estimates of $417.45 million. Alon USA Partners had a net margin of 2.94% and a return on equity of 38.88%. The firm’s revenue for the quarter was down 25.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.95 EPS. On average, equities research analysts forecast that Alon USA Partners will post ($0.12) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALDW. Freestone Capital Holdings LLC boosted its position in Alon USA Partners by 41.4% in the fourth quarter. Freestone Capital Holdings LLC now owns 49,887 shares of the company’s stock valued at $1,160,000 after buying an additional 14,611 shares during the period. GSA Capital Partners LLP boosted its position in Alon USA Partners by 603.6% in the fourth quarter. GSA Capital Partners LLP now owns 97,803 shares of the company’s stock valued at $2,274,000 after buying an additional 83,903 shares during the period. Allianz Asset Management AG boosted its position in Alon USA Partners by 1.5% in the fourth quarter. Allianz Asset Management AG now owns 1,004,205 shares of the company’s stock valued at $23,348,000 after buying an additional 14,405 shares during the period. First Trust Advisors LP boosted its position in 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. Finally, WealthTrust Axiom LLC boosted its position in 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. Institutional investors own 5.93% of the company’s stock.
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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