PBF Logistics LP (PBFX) Downgraded to Buy at BidaskClub
PBF Logistics LP (NYSE:PBFX) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday.
PBFX has been the topic of several other research reports. TheStreet upgraded shares of PBF Logistics from a “d” rating to a “c” rating in a report on Tuesday, May 30th. Zacks Investment Research lowered shares of PBF Logistics from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. ValuEngine lowered shares of PBF Logistics from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Finally, Credit Suisse Group set a $24.00 price objective on shares of PBF Logistics and gave the company a “hold” rating in a report on Saturday, August 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $24.00.
Shares of PBF Logistics (NYSE:PBFX) opened at 21.25 on Thursday. PBF Logistics has a 52 week low of $17.45 and a 52 week high of $22.70. The firm has a market cap of $890.21 million, a P/E ratio of 9.62 and a beta of 1.32. The company’s 50-day moving average price is $21.05 and its 200 day moving average price is $20.57.
PBF Logistics (NYSE:PBFX) last announced its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.58 by $0.09. PBF Logistics had a net margin of 39.25% and a return on equity of 62.40%. The company had revenue of $62.30 million for the quarter, compared to analyst estimates of $58.69 million. During the same quarter in the prior year, the company posted $0.41 EPS. PBF Logistics’s revenue for the quarter was up 53.1% on a year-over-year basis. On average, equities analysts anticipate that PBF Logistics will post $2.32 earnings per share for the current year.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its holdings in shares of PBF Logistics by 9.5% during the first quarter. Tower Research Capital LLC TRC now owns 5,851 shares of the pipeline company’s stock valued at $126,000 after purchasing an additional 508 shares during the period. GSA Capital Partners LLP raised its holdings in shares of PBF Logistics by 9.1% during the second quarter. GSA Capital Partners LLP now owns 13,314 shares of the pipeline company’s stock valued at $260,000 after purchasing an additional 1,114 shares during the period. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of PBF Logistics by 11.7% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 24,900 shares of the pipeline company’s stock valued at $486,000 after purchasing an additional 2,600 shares during the period. M&T Bank Corp acquired a new position in shares of PBF Logistics during the first quarter valued at about $505,000. Finally, Bank of Montreal Can acquired a new position in shares of PBF Logistics during the first quarter valued at about $539,000. Hedge funds and other institutional investors own 42.48% of the company’s stock.
PBF Logistics Company Profile
PBF Logistics LP owns or leases, operates, develops and acquires crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets. The Company operates through two segments: Transportation and Terminaling, and Storage. The Transportation and Terminaling segment consists of various assets, including Delaware City Rail Unloading Terminal (DCR Rail Terminal), Toledo Truck Unloading Terminal (Toledo Truck Terminal), Delaware City West Heavy Unloading Rack (the DCR West Rack), East Coast Terminals and Torrance Valley Pipeline.
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