CVR Partners, LP (UAN) Lifted to Hold at Zacks Investment Research
CVR Partners, LP (NYSE:UAN) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Earnings estimates for CVR Partners for the second quarter have been stable of late. CVR Partners remains committed to ramp up its UAN production capacity. The company should also benefit from the Rentech Nitrogen acquisition and healthy demand for nitrogen fertilizers in 2017. However, CVR Partners has underperformed the Zacks categorized Fertilizers industry over the last six months. The company remains exposed to headwinds from weak nitrogen fertilizer prices. Abundant nitrogen supply driven by new production capacity is expected weigh on global prices this year. The company also faces intense price competition.”
Several other equities analysts have also weighed in on the company. Cowen and Company reissued a “hold” rating and issued a $5.00 target price on shares of CVR Partners, in a research note on Tuesday, July 11th. TheStreet lowered CVR Partners, from a “c-” rating to a “d+” rating in a research note on Thursday, May 25th. ValuEngine raised CVR Partners, from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Finally, Goldman Sachs Group, Inc. (The) raised CVR Partners, from a “neutral” rating to a “buy” rating and set a $6.00 target price on the stock in a research note on Monday, March 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $5.50.
Shares of CVR Partners, (UAN) traded down 0.53% during midday trading on Tuesday, reaching $3.72. 84,327 shares of the company’s stock traded hands. The firm’s market capitalization is $421.41 million. The stock’s 50 day moving average price is $4.10 and its 200 day moving average price is $5.10. CVR Partners, has a 52-week low of $3.38 and a 52-week high of $8.21.
CVR Partners, (NYSE:UAN) last issued its quarterly earnings results on Thursday, April 27th. The basic materials company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by $0.07. CVR Partners, had a negative net margin of 14.98% and a negative return on equity of 5.85%. The firm had revenue of $85.30 million for the quarter, compared to analyst estimates of $90.04 million. During the same period last year, the company earned $0.25 EPS. The company’s revenue was up 16.7% compared to the same quarter last year. On average, equities research analysts anticipate that CVR Partners, will post ($0.23) EPS for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in CVR Partners, by 50.0% in the first quarter. Goldman Sachs Group Inc. now owns 409,608 shares of the basic materials company’s stock worth $1,905,000 after buying an additional 136,581 shares in the last quarter. Raging Capital Management LLC raised its stake in CVR Partners, by 1,000.8% in the first quarter. Raging Capital Management LLC now owns 8,466,876 shares of the basic materials company’s stock worth $39,371,000 after buying an additional 7,697,736 shares in the last quarter. VIEX Capital Advisors LLC purchased a new position in CVR Partners, during the first quarter worth about $2,259,000. Global X Management Co. LLC increased its position in CVR Partners, by 10.7% in the first quarter. Global X Management Co. LLC now owns 39,475 shares of the basic materials company’s stock worth $184,000 after buying an additional 3,825 shares during the last quarter. Finally, Walthausen & Co. LLC increased its position in CVR Partners, by 330.9% in the first quarter. Walthausen & Co. LLC now owns 942,827 shares of the basic materials company’s stock worth $4,384,000 after buying an additional 724,017 shares during the last quarter. 22.45% of the stock is currently owned by institutional investors.
About CVR Partners,
CVR Partners, LP is a limited partnership formed by CVR Energy, Inc (CVR Energy) to own, operate and grow its nitrogen fertilizer business. The Company produces and distributes nitrogen fertilizer products, which are used by farmers to manage the yield and quality of their crops. As of December 31, 2016, the Company produced its nitrogen fertilizer products at two manufacturing facilities, located in Coffeyville, Kansas and East Dubuque, Illinois.
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