Stifel Nicolaus Reiterates “Buy” Rating for Green Plains Partners LP (GPP)
Green Plains Partners LP (NASDAQ:GPP)‘s stock had its “buy” rating reaffirmed by equities researchers at Stifel Nicolaus in a research report issued on Thursday. They currently have a $21.00 price objective on the transportation company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 6.06% from the stock’s current price.
Several other brokerages also recently issued reports on GPP. Zacks Investment Research raised Green Plains Partners from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. BidaskClub downgraded Green Plains Partners from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Bank of America Corporation downgraded Green Plains Partners from a “buy” rating to an “underperform” rating and cut their price target for the company from $22.00 to $19.00 in a report on Wednesday, August 2nd. Roth Capital set a $24.00 price target on Green Plains Partners and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, Robert W. Baird reissued a “buy” rating and set a $24.00 target price on shares of Green Plains Partners in a report on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $22.00.
Green Plains Partners (GPP) traded down 1.49% during trading on Thursday, reaching $19.80. 20,367 shares of the company traded hands. Green Plains Partners has a 12 month low of $17.05 and a 12 month high of $21.75. The company has a market cap of $629.90 million, a PE ratio of 10.95 and a beta of 1.00. The company’s 50-day moving average is $19.88 and its 200 day moving average is $19.88.
Green Plains Partners (NASDAQ:GPP) last announced its quarterly earnings results on Monday, July 31st. The transportation company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.10). Green Plains Partners had a net margin of 54.97% and a negative return on equity of 90.84%. The business had revenue of $25.10 million for the quarter, compared to analyst estimates of $29.62 million. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts anticipate that Green Plains Partners will post $1.84 earnings per share for the current year.
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Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Green Plains Partners by 11.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 13,635 shares of the transportation company’s stock worth $274,000 after buying an additional 1,417 shares in the last quarter. Arrow Investment Advisors LLC acquired a new stake in shares of Green Plains Partners during the second quarter worth $638,000. Wedbush Securities Inc. acquired a new stake in shares of Green Plains Partners during the second quarter worth $213,000. UBS Group AG lifted its holdings in shares of Green Plains Partners by 0.7% during the first quarter. UBS Group AG now owns 335,212 shares of the transportation company’s stock worth $6,738,000 after buying an additional 2,301 shares in the last quarter. Finally, Sigma Planning Corp acquired a new stake in shares of Green Plains Partners during the second quarter worth $503,000. 44.81% of the stock is owned by institutional investors.
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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