Alon USA Partners LP (ALDW) Upgraded to “Buy” at Citigroup Inc.
Alon USA Partners LP (NYSE:ALDW) was upgraded by equities research analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating in a report released on Wednesday, The Fly reports.
A number of other brokerages have also issued reports on ALDW. TheStreet raised Alon USA Partners from a “sell” rating to a “hold” rating in a report on Wednesday, August 31st. Zacks Investment Research lowered Alon USA Partners from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. Finally, Barclays PLC reissued an “underweight” rating and issued a $8.00 price objective (down from $9.00) on shares of Alon USA Partners in a report on Monday, October 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $10.50.
Alon USA Partners (NYSE:ALDW) opened at 8.28 on Wednesday. Alon USA Partners has a 12-month low of $8.07 and a 12-month high of $26.67. The firm has a market capitalization of $517.67 million, a PE ratio of 9.65 and a beta of 0.97. The stock has a 50 day moving average price of $9.48 and a 200-day moving average price of $9.87.
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. Alon USA Partners had a return on equity of 38.88% and a net margin of 2.94%. The business earned $468.46 million during the quarter, compared to the consensus estimate of $417.45 million. During the same period last year, the company earned $0.95 earnings per share. The business’s quarterly revenue was down 25.1% compared to the same quarter last year. On average, equities research analysts forecast that Alon USA Partners will post ($0.12) EPS for the current year.
A number of institutional investors have recently modified their holdings of the stock. Keel Point LLC raised its position in shares of Alon USA Partners by 1.0% in the second quarter. Keel Point LLC now owns 45,741 shares of the company’s stock worth $462,000 after buying an additional 437 shares during the last quarter. Rafferty Asset Management LLC raised 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 worth $1,271,000 after buying an additional 965 shares during the last quarter. Sigma Planning Corp increased its stake in shares of Alon USA Partners by 14.1% in the second quarter. Sigma Planning Corp now owns 15,587 shares of the company’s stock worth $157,000 after buying an additional 1,925 shares during the period. Commonwealth Equity Services Inc increased its stake 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 worth $132,000 after buying an additional 2,134 shares during the period. Finally, Creative Planning increased its stake in shares of Alon USA Partners by 27.0% in the second quarter. Creative Planning now owns 17,700 shares of the company’s stock worth $179,000 after buying an additional 3,765 shares during the period. 5.96% 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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