BidaskClub Downgrades PBF Logistics LP (PBFX) to Sell
PBF Logistics LP (NYSE:PBFX) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
A number of other equities analysts have also recently weighed in on PBFX. Zacks Investment Research cut PBF Logistics from a “hold” rating to a “sell” rating in a report on Saturday, September 30th. Credit Suisse Group set a $24.00 price target on PBF Logistics and gave the stock a “hold” rating in a report on Saturday, August 5th. Finally, ValuEngine cut PBF Logistics from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.00.
Shares of PBF Logistics (NYSE PBFX) opened at 20.95 on Friday. PBF Logistics has a 52-week low of $17.45 and a 52-week high of $22.70. The stock has a market cap of $877.64 million, a PE ratio of 9.48 and a beta of 1.30. The company’s 50 day moving average price is $21.19 and its 200 day moving average price is $20.53.
PBF Logistics (NYSE:PBFX) last released its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.09). The business had revenue of $62.30 million during the quarter, compared to analyst estimates of $58.69 million. PBF Logistics had a return on equity of 62.40% and a net margin of 39.25%. The business’s revenue for the quarter was up 53.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. On average, analysts anticipate that PBF Logistics will post $2.25 earnings per share for the current year.
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Institutional investors have recently made changes to their positions in the business. 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 acquiring an additional 508 shares during the last quarter. 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 acquiring an additional 1,114 shares during the last quarter. 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 acquiring an additional 2,600 shares during the last quarter. M&T Bank Corp acquired a new position in shares of PBF Logistics during the first quarter valued at approximately $505,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of PBF Logistics by 3,128.1% during the second quarter. JPMorgan Chase & Co. now owns 45,322 shares of the pipeline company’s stock valued at $884,000 after acquiring an additional 43,918 shares during the last quarter. 42.47% of the stock is owned by institutional investors and hedge funds.
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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