Alon USA Partners, LP (ALDW) Rating Increased to Buy at BidaskClub
Alon USA Partners, LP (NYSE:ALDW) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.
ALDW has been the topic of several other research reports. TheStreet raised shares of Alon USA Partners, from a “c” rating to a “b-” rating in a report on Friday, July 28th. Citigroup Inc reaffirmed a “buy” rating and issued a $13.00 target price on shares of Alon USA Partners, in a report on Wednesday, August 2nd. Macquarie raised shares of Alon USA Partners, from a “neutral” rating to an “outperform” rating in a report on Monday, October 23rd. ValuEngine raised shares of Alon USA Partners, from a “sell” rating to a “hold” rating in a report on Monday, September 18th. Finally, Tudor Pickering reaffirmed a “hold” rating on shares of Alon USA Partners, in a report on Thursday, July 13th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $12.25.
Shares of Alon USA Partners, (ALDW) opened at $13.16 on Friday. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.80 and a current ratio of 0.90. The firm has a market capitalization of $830.39 million, a price-to-earnings ratio of 18.70 and a beta of 1.06.
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In other Alon USA Partners, news, VP Shai Even sold 2,937 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $11.50, for a total transaction of $33,775.50. Following the sale, the vice president now owns 4,263 shares of the company’s stock, valued at approximately $49,024.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Hedge funds and other institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC boosted its stake in shares of Alon USA Partners, by 683.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 9,514 shares of the oil and gas company’s stock valued at $100,000 after purchasing an additional 8,300 shares during the last quarter. Virtu KCG Holdings LLC bought a new position in shares of Alon USA Partners, in the 2nd quarter valued at about $148,000. Russell Investments Group Ltd. bought a new position in shares of Alon USA Partners, in the 2nd quarter valued at about $173,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Alon USA Partners, in the 2nd quarter valued at about $493,000. Finally, Acadian Asset Management LLC bought a new position in shares of Alon USA Partners, in the 2nd quarter valued at about $544,000. 5.35% of the stock is currently owned by institutional investors.
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. The Company had a crude oil throughput capacity of 73,000 barrels per day, which the Company referred to as its Big Spring refinery, as of December 31, 2016. 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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