Green Plains Partners LP (GPP) Lowered to Hold at BidaskClub
Green Plains Partners LP (NASDAQ:GPP) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Tuesday.
Several other analysts have also commented on the stock. Royal Bank Of Canada reissued a “buy” rating and set a $22.00 price target on shares of Green Plains Partners in a research report on Tuesday, June 6th. ValuEngine downgraded shares of Green Plains Partners from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Green Plains Partners in a research report on Friday, June 23rd. Zacks Investment Research lowered shares of Green Plains Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, Bank of America Corporation lowered shares of Green Plains Partners from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $22.00 to $19.00 in a research note on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $22.17.
Green Plains Partners (GPP) traded up 0.74% during trading on Tuesday, hitting $20.30. The stock had a trading volume of 25,493 shares. Green Plains Partners has a 52-week low of $17.05 and a 52-week high of $21.75. The stock’s 50-day moving average is $19.81 and its 200-day moving average is $19.81. The stock has a market capitalization of $645.80 million, a PE ratio of 11.22 and a beta of 1.00.
Green Plains Partners (NASDAQ:GPP) last posted its earnings results on Monday, July 31st. The transportation company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.10). Green Plains Partners had a net margin of 54.97% and a negative return on equity of 90.84%. The company had revenue of $25.10 million during the quarter, compared to analysts’ expectations of $29.62 million. The company’s revenue was down 1.6% compared to the same quarter last year. On average, analysts predict that Green Plains Partners will post $1.84 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the business. Acrospire Investment Management LLC grew its stake in shares of Green Plains Partners by 54.7% during the second quarter. Acrospire Investment Management LLC now owns 6,370 shares of the transportation company’s stock worth $119,000 after acquiring an additional 2,252 shares during the last quarter. WealthPLAN Partners LLC acquired a new position in shares of Green Plains Partners during the second quarter valued at about $210,000. Wedbush Securities Inc. acquired a new position in shares of Green Plains Partners during the second quarter valued at about $213,000. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Green Plains Partners by 11.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 13,635 shares of the transportation company’s stock valued at $274,000 after acquiring an additional 1,417 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Green Plains Partners during the second quarter valued at about $327,000. 44.81% of the stock is owned by institutional investors and hedge funds.
About Green Plains Partners
Green Plains Partners LP provides fuel storage and transportation services. The Company owns, operates, develops and acquires ethanol and fuel storage facilities, terminals, transportation assets, and other related assets and businesses. The Company’s parent company is Green Plains Inc (Green Plains).
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