PBF Logistics (PBFX) Upgraded to Hold by Zacks Investment Research
PBF Logistics (NYSE:PBFX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “PBF Logistics LP engages in owning, leasing, operating, developing and acquiring crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets. PBF Logistics LP is headquartered in Parsippany, New Jersey. “
PBFX has been the subject of several other reports. BidaskClub raised PBF Logistics from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. UBS Group decreased their price objective on PBF Logistics from $28.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $24.00.
PBF Logistics (NYSE PBFX) opened at $21.00 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.40. The stock has a market capitalization of $879.79, a P/E ratio of 9.38, a P/E/G ratio of 2.15 and a beta of 1.26. PBF Logistics has a fifty-two week low of $18.55 and a fifty-two week high of $22.70.
PBF Logistics (NYSE:PBFX) last announced its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.05. The firm had revenue of $65.50 million during the quarter, compared to the consensus estimate of $64.60 million. PBF Logistics had a return on equity of 64.05% and a net margin of 38.76%. The firm’s quarterly revenue was up 35.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.50 earnings per share. equities analysts anticipate that PBF Logistics will post 2.28 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of PBFX. State of New Jersey Common Pension Fund D acquired a new stake in shares of PBF Logistics during the third quarter worth $1,222,000. Neuberger Berman Group LLC acquired a new stake in shares of PBF Logistics during the third quarter worth $1,217,000. JPMorgan Chase & Co. lifted 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 worth $884,000 after purchasing an additional 43,918 shares during the period. Arrow Investment Advisors LLC acquired a new stake in shares of PBF Logistics during the third quarter worth $793,000. Finally, GSA Capital Partners LLP lifted its holdings in shares of PBF Logistics by 236.3% during the third quarter. GSA Capital Partners LLP now owns 44,774 shares of the pipeline company’s stock worth $940,000 after purchasing an additional 31,460 shares during the period. 37.36% of the stock is owned by institutional investors and hedge funds.
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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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