Green Plains Partners LP (GPP) Cut to “Hold” at BidaskClub
BidaskClub cut shares of Green Plains Partners LP (NASDAQ:GPP) from a buy rating to a hold rating in a report published on Tuesday.
GPP has been the topic of a number of other research reports. Stifel Nicolaus reissued a buy rating and set a $22.00 price target on shares of Green Plains Partners in a research report on Friday, June 23rd. ValuEngine downgraded Green Plains Partners from a strong-buy rating to a buy rating in a research report on Tuesday, June 13th. Roth Capital set a $24.00 price target on Green Plains Partners and gave the stock a buy rating in a research report on Wednesday, August 2nd. Zacks Investment Research downgraded Green Plains Partners from a hold rating to a sell rating in a research report on Tuesday, July 4th. Finally, 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $22.20.
Shares of Green Plains Partners (GPP) traded down 1.00% during mid-day trading on Tuesday, reaching $19.90. The company had a trading volume of 10,702 shares. The stock has a market capitalization of $633.08 million, a P/E ratio of 11.00 and a beta of 1.00. Green Plains Partners has a 12-month low of $17.05 and a 12-month high of $21.75. The firm’s 50 day moving average is $19.85 and its 200-day moving average is $19.85.
Green Plains Partners (NASDAQ:GPP) last issued its quarterly earnings results on Monday, July 31st. The transportation company reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.10). The company had revenue of $25.10 million for the quarter, compared to analyst estimates of $29.62 million. Green Plains Partners had a negative return on equity of 90.84% and a net margin of 54.97%. Green Plains Partners’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, analysts expect that Green Plains Partners will post $1.84 earnings per share for the current fiscal year.
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Several institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Green Plains Partners by 67.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 22,776 shares of the transportation company’s stock valued at $426,000 after acquiring an additional 9,141 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Green Plains Partners in the 2nd quarter valued at $327,000. WealthPLAN Partners LLC bought a new position in shares of Green Plains Partners in the 2nd quarter valued at $210,000. Citigroup Inc. lifted its stake in shares of Green Plains Partners by 0.8% in the 2nd quarter. Citigroup Inc. now owns 64,311 shares of the transportation company’s stock valued at $1,203,000 after acquiring an additional 486 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its stake in shares of Green Plains Partners by 13.5% in the 2nd quarter. GSA Capital Partners LLP now owns 48,056 shares of the transportation company’s stock valued at $899,000 after acquiring an additional 5,718 shares during the last quarter. Institutional investors own 44.81% of the company’s stock.
Green Plains Partners Company Profile
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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