PBF Logistics LP (NYSE:PBFX) PT Set at $24.00 by Credit Suisse Group
PBF Logistics LP (NYSE:PBFX) has been given a $24.00 price objective by stock analysts at Credit Suisse Group in a report released on Saturday. The firm currently has a “hold” rating on the pipeline company’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 13.21% from the stock’s previous close.
A number of other analysts also recently weighed in on PBFX. Zacks Investment Research downgraded shares of PBF Logistics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 19th. TheStreet raised shares of PBF Logistics from a “d” rating to a “c” rating in a research report on Tuesday, May 30th. ValuEngine downgraded shares of PBF Logistics from a “buy” rating to a “hold” rating in a research report on Friday, June 16th. Finally, BidaskClub downgraded shares of PBF Logistics from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. PBF Logistics presently has an average rating of “Hold” and an average price target of $24.00.
PBF Logistics (NYSE:PBFX) opened at 21.20 on Friday. The firm has a market cap of $887.30 million, a PE ratio of 9.94 and a beta of 1.34. PBF Logistics has a one year low of $17.45 and a one year high of $23.00. The stock has a 50 day moving average of $19.54 and a 200 day moving average of $20.29.
PBF Logistics (NYSE:PBFX) last released its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by $0.09. PBF Logistics had a return on equity of 62.98% and a net margin of 39.25%. The company had revenue of $62.30 million for the quarter, compared to analyst estimates of $58.69 million. During the same period in the previous year, the business posted $0.41 EPS. The firm’s quarterly revenue was up 53.1% compared to the same quarter last year. On average, equities analysts forecast that PBF Logistics will post $2.30 earnings per share for the current year.
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A number of institutional investors have recently added to or reduced their stakes in PBFX. Marshall Wace North America L.P. acquired a new position in PBF Logistics during the second quarter worth approximately $1,065,000. First Trust Advisors LP acquired a new position in PBF Logistics during the second quarter worth approximately $7,985,000. Global X Management Co. LLC increased its position in PBF Logistics by 3.1% in the second quarter. Global X Management Co. LLC now owns 381,537 shares of the pipeline company’s stock worth $7,440,000 after buying an additional 11,546 shares in the last quarter. Tower Research Capital LLC TRC increased its position in PBF Logistics by 9.5% in the first quarter. Tower Research Capital LLC TRC now owns 5,851 shares of the pipeline company’s stock worth $126,000 after buying an additional 508 shares in the last quarter. Finally, BP Capital Fund Advisors LLC increased its position in PBF Logistics by 6.5% in the first quarter. BP Capital Fund Advisors LLC now owns 127,229 shares of the pipeline company’s stock worth $2,742,000 after buying an additional 7,730 shares in the last quarter. 71.99% of the stock is owned by hedge funds and other institutional investors.
PBF Logistics Company Profile
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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