Alon USA Partners LP (ALDW) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Alon USA Partners LP (NYSE:ALDW) from a hold rating to a buy rating in a report published on Wednesday morning. The brokerage currently has $9.50 price objective on the stock.
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. “
A number of other analysts also recently issued reports on ALDW. Barclays PLC reissued an underweight rating and set a $8.00 price objective (down from $9.00) on shares of Alon USA Partners in a research report on Monday, October 10th. TheStreet raised Alon USA Partners from a sell rating to a hold rating in a research report on Wednesday, August 31st. Finally, Citigroup Inc. raised their price objective on 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 analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $10.50.
Shares of Alon USA Partners (NYSE:ALDW) opened at 8.14 on Wednesday. Alon USA Partners has a 52-week low of $8.07 and a 52-week high of $26.67. The stock has a market capitalization of $508.91 million, a price-to-earnings ratio of 9.49 and a beta of 0.98. The firm’s 50 day moving average is $9.68 and its 200 day moving average is $9.97.
Alon USA Partners (NYSE:ALDW) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by $0.07. The business had revenue of $468.46 million for the quarter, compared to analyst estimates of $417.45 million. Alon USA Partners had a return on equity of 38.88% and a net margin of 2.94%. The firm’s revenue for the quarter was down 25.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.95 earnings per share. Equities analysts expect that Alon USA Partners will post ($0.12) earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. 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. WealthTrust Axiom LLC boosted its position in shares of 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 during the last quarter. Commonwealth Equity Services Inc boosted its position in shares of Alon USA Partners by 19.4% in the second quarter. Commonwealth Equity Services Inc now owns 13,117 shares of the company’s stock valued at $132,000 after buying an additional 2,134 shares during the last quarter. Arrow Investment Advisors LLC boosted its position in shares of 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 during the last quarter. Finally, Rafferty Asset Management LLC boosted its position in shares of Alon USA Partners by 1.0% in the first quarter. Rafferty Asset Management LLC now owns 96,659 shares of the company’s stock valued at $1,271,000 after buying an additional 965 shares during the last quarter. 5.96% of the stock is owned by 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Alon USA Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alon USA Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.