PBF Logistics LP (PBFX) Stock Rating Lowered by Zacks Investment Research
PBF Logistics LP (NYSE:PBFX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “PBF Logistics LP engages in owning, leasing, operating, developing and acquiring crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets. PBF Logistics LP is headquartered in Parsippany, New Jersey. “
Separately, Credit Suisse Group AG reaffirmed a “neutral” rating on shares of PBF Logistics in a research note on Monday, August 1st.
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PBF Logistics (NYSE:PBFX) opened at 19.90 on Tuesday. PBF Logistics has a 52 week low of $15.39 and a 52 week high of $23.49. The company has a market capitalization of $742.99 million, a price-to-earnings ratio of 9.74 and a beta of 1.39. The company has a 50 day moving average of $20.18 and a 200 day moving average of $20.89.
PBF Logistics (NYSE:PBFX) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by $0.10. The firm had revenue of $40.66 million for the quarter, compared to analysts’ expectations of $38.61 million. PBF Logistics had a negative return on equity of 42.52% and a net margin of 48.09%. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.58 earnings per share. On average, equities analysts forecast that PBF Logistics will post $1.91 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. bought a new stake in shares of PBF Logistics during the second quarter worth about $173,000. BB&T Corp bought a new stake in shares of PBF Logistics during the second quarter worth about $230,000. State Street Corp raised its stake in shares of PBF Logistics by 3.9% in the first quarter. State Street Corp now owns 15,519 shares of the company’s stock worth $292,000 after buying an additional 581 shares in the last quarter. Fort Washington Investment Advisors Inc OH bought a new stake in shares of PBF Logistics during the second quarter worth about $398,000. Finally, Burnham Asset Management Corp NY bought a new stake in shares of PBF Logistics during the second quarter worth about $477,000. 60.57% of the stock is owned by hedge funds and other institutional investors.
PBF Logistics Company Profile
PBF Logistics LP is engaged in the receiving, handling and transferring of crude oil and the receipt, storage and delivery of crude oil, refined products and intermediates. The Company operates through two segments: Transportation and Terminaling segment, and storage segment. The Company focuses on owning or leasing, operating, developing and acquiring crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets.
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