Zacks Investment Research cut shares of PBF Logistics (NYSE:PBFX) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

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. “

Other research analysts also recently issued research reports about the company. BidaskClub downgraded PBF Logistics from a buy rating to a hold rating in a research note on Friday, September 22nd. UBS Group lowered their target price on PBF Logistics from $28.00 to $24.00 and set a buy rating on the stock in a research note on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. PBF Logistics has an average rating of Hold and a consensus price target of $24.00.

Shares of PBF Logistics (NYSE PBFX) traded down $0.25 during midday trading on Wednesday, reaching $21.05. The company’s stock had a trading volume of 52,915 shares, compared to its average volume of 75,446. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.40. PBF Logistics has a 1 year low of $18.55 and a 1 year high of $22.70. The stock has a market capitalization of $881.89, a P/E ratio of 9.40, a P/E/G ratio of 2.24 and a beta of 1.26.

PBF Logistics (NYSE:PBFX) last issued its earnings results on Thursday, November 2nd. The pipeline company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. PBF Logistics had a return on equity of 64.05% and a net margin of 38.76%. The firm had revenue of $65.50 million for the quarter, compared to the consensus estimate of $64.60 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The business’s quarterly revenue was up 35.2% compared to the same quarter last year. equities research analysts forecast that PBF Logistics will post 2.28 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Harvest Fund Advisors LLC lifted its position in shares of PBF Logistics by 1.8% in the third quarter. Harvest Fund Advisors LLC now owns 1,307,569 shares of the pipeline company’s stock worth $27,459,000 after buying an additional 23,406 shares during the last quarter. NBW Capital LLC lifted its position in shares of PBF Logistics by 2.8% in the second quarter. NBW Capital LLC now owns 403,291 shares of the pipeline company’s stock worth $7,864,000 after buying an additional 11,006 shares during the last quarter. Global X MANAGEMENT CO LLC lifted its position in shares of PBF Logistics by 3.4% in the third quarter. Global X MANAGEMENT CO LLC now owns 394,687 shares of the pipeline company’s stock worth $8,288,000 after buying an additional 13,150 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of PBF Logistics by 4.0% in the third quarter. Wells Fargo & Company MN now owns 85,529 shares of the pipeline company’s stock worth $1,796,000 after buying an additional 3,319 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of PBF Logistics in the third quarter worth about $1,222,000. Hedge funds and other institutional investors own 37.36% of the company’s stock.

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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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