PBF Logistics LP (PBFX) Upgraded by BidaskClub to “Buy”
BidaskClub upgraded shares of PBF Logistics LP (NYSE:PBFX) from a hold rating to a buy rating in a research report report published on Thursday.
PBFX has been the subject of several other research reports. Zacks Investment Research lowered PBF Logistics from a hold rating to a sell rating in a research report on Wednesday, August 9th. Credit Suisse Group set a $24.00 price objective on PBF Logistics and gave the company a hold rating in a research report on Saturday, August 5th. Finally, ValuEngine upgraded PBF Logistics from a hold rating to a buy rating in a research report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. PBF Logistics has a consensus rating of Hold and a consensus target price of $24.00.
PBF Logistics (NYSE:PBFX) opened at 21.00 on Thursday. The company’s 50-day moving average price is $21.24 and its 200 day moving average price is $20.53. The company has a market capitalization of $879.73 million, a price-to-earnings ratio of 9.51 and a beta of 1.30. PBF Logistics has a 52-week low of $17.45 and a 52-week high of $22.70.
PBF Logistics (NYSE:PBFX) last posted its 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 the consensus estimate of $58.69 million. PBF Logistics had a return on equity of 62.40% and a net margin of 39.25%. The business’s quarterly revenue was up 53.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 earnings per share. On average, equities analysts expect that PBF Logistics will post $2.25 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of PBFX. NBW Capital LLC increased its position in PBF Logistics by 2.8% during the second quarter. NBW Capital LLC now owns 403,291 shares of the pipeline company’s stock valued at $7,864,000 after acquiring an additional 11,006 shares during the last quarter. GSA Capital Partners LLP raised its stake 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 valued at $260,000 after acquiring an additional 1,114 shares during the period. Fort Washington Investment Advisors Inc. OH raised its stake 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 valued at $486,000 after acquiring an additional 2,600 shares during the period. Wells Fargo & Company MN raised its stake in shares of PBF Logistics by 18.5% in the second quarter. Wells Fargo & Company MN now owns 82,210 shares of the pipeline company’s stock valued at $1,603,000 after acquiring an additional 12,852 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of PBF Logistics by 3,128.1% in 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 period. 42.47% 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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