PBF Logistics LP (PBFX) Stock Rating Upgraded by BidaskClub
PBF Logistics LP (NYSE:PBFX) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Wednesday.
Other research analysts also recently issued reports about the company. Zacks Investment Research downgraded PBF Logistics from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. TheStreet raised PBF Logistics from a “d” rating to a “c” rating in a report on Tuesday, May 30th. ValuEngine raised PBF Logistics from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Credit Suisse Group set a $24.00 price target on PBF Logistics and gave the company a “hold” rating in a report on Saturday, August 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. PBF Logistics currently has an average rating of “Buy” and a consensus price target of $24.00.
Shares of PBF Logistics (PBFX) opened at 21.85 on Wednesday. PBF Logistics has a 1-year low of $17.45 and a 1-year high of $22.70. The company has a market cap of $915.34 million, a PE ratio of 9.89 and a beta of 1.34. The firm’s 50-day moving average is $20.78 and its 200-day moving average is $20.53.
PBF Logistics (NYSE:PBFX) last announced its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.49 earnings per share (EPS) for the quarter, missing the Zacks’ 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 during the quarter, compared to analyst estimates of $58.69 million. During the same period in the previous year, the firm posted $0.41 earnings per share. The company’s revenue was up 53.1% compared to the same quarter last year. On average, equities analysts forecast that PBF Logistics will post $2.32 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in PBFX. Tower Research Capital LLC TRC increased its position in shares of PBF Logistics by 9.5% in the first quarter. Tower Research Capital LLC TRC now owns 5,851 shares of the pipeline company’s stock worth $126,000 after buying an additional 508 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of PBF Logistics by 9.1% in the second quarter. GSA Capital Partners LLP now owns 13,314 shares of the pipeline company’s stock worth $260,000 after buying an additional 1,114 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its position in shares of PBF Logistics by 11.7% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 24,900 shares of the pipeline company’s stock worth $486,000 after buying an additional 2,600 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of PBF Logistics by 4.5% in the first quarter. Renaissance Technologies LLC now owns 156,117 shares of the pipeline company’s stock worth $3,364,000 after buying an additional 6,785 shares during the last quarter. Finally, BP Capital Fund Advisors LLC increased its position in shares of PBF Logistics by 6.5% in the first quarter. BP Capital Fund Advisors LLC now owns 127,229 shares of the pipeline company’s stock valued at $2,742,000 after buying an additional 7,730 shares during the last quarter. 42.48% of the stock is owned by institutional investors.
About PBF Logistics
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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