Alon USA Partners LP (ALDW) Upgraded to Hold at Zacks Investment Research
According to Zacks, “Alon USA Partners, LP owns and operates refining and petroleum products marketing business. The Company’s integrated downstream business operates primarily in the South Central and Southwestern regions of the United States. It refines crude oil into finished products, which it market primarily in West Texas, Central Texas, Oklahoma, New Mexico and Arizona. Alon USA Partners, LP is based in Texas. “
Several other equities research analysts have also recently weighed in on ALDW. TheStreet raised shares of Alon USA Partners from a sell rating to a hold rating in a research report on Wednesday, August 31st. Citigroup Inc. upped their price objective on shares of Alon USA Partners from $10.80 to $11.50 and gave the stock a neutral rating in a research report on Wednesday, September 14th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Alon USA Partners currently has an average rating of Hold and an average price target of $15.38.
Alon USA Partners (NYSE:ALDW) opened at 8.70 on Tuesday. The company’s 50-day moving average is $10.08 and its 200 day moving average is $10.18. The company has a market cap of $543.92 million, a price-to-earnings ratio of 10.14 and a beta of 0.97. Alon USA Partners has a 1-year low of $8.07 and a 1-year high of $26.67.
Alon USA Partners (NYSE:ALDW) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by $0.07. Alon USA Partners had a return on equity of 38.88% and a net margin of 2.94%. The firm had revenue of $468.46 million for the quarter, compared to the consensus estimate of $417.45 million. During the same period in the prior year, the company earned $0.95 EPS. The company’s revenue for the quarter was down 25.1% compared to the same quarter last year. On average, equities analysts predict that Alon USA Partners will post ($0.12) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Advisors LP increased its position in Alon USA Partners by 178.8% in the second quarter. First Trust Advisors LP now owns 2,492,266 shares of the company’s stock valued at $25,147,000 after buying an additional 1,598,296 shares in the last quarter. A.R.T. Advisors LLC purchased a new position in Alon USA Partners during the first quarter valued at about $704,000. Arrow Investment Advisors LLC increased its position in Alon USA Partners by 87.6% in the second quarter. Arrow Investment Advisors LLC now owns 49,270 shares of the company’s stock valued at $497,000 after buying an additional 23,002 shares in the last quarter. Clinton Group Inc. purchased a new position in Alon USA Partners during the second quarter valued at about $171,000. Finally, WealthTrust Axiom LLC increased its position in Alon USA Partners by 88.9% in the second quarter. WealthTrust Axiom LLC now owns 34,000 shares of the company’s stock valued at $343,000 after buying an additional 16,000 shares in the last quarter. 5.93% of the stock is owned by hedge funds and other institutional investors.
About Alon USA Partners
Alon USA Partners, LP (Alon) is engaged principally in the business of operating a crude oil refinery in Big Spring, Texas, with a crude oil throughput capacity of approximately 73,000 barrels per day, which the Company refers to as its Big Spring refinery. The Company refines crude oil into finished products, which the Company markets primarily in Central and West Texas, Oklahoma, New Mexico and Arizona through its integrated wholesale distribution network to retail convenience stores and other third-party distributors.
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