BidaskClub Lowers PBF Logistics LP (PBFX) to Sell

BidaskClub cut shares of PBF Logistics LP (NYSE:PBFX) from a hold rating to a sell rating in a research note published on Friday.

Several other brokerages also recently weighed in on PBFX. Zacks Investment Research downgraded shares of PBF Logistics from a hold rating to a sell rating in a research note on Saturday, September 30th. Credit Suisse Group set a $24.00 price objective on shares of PBF Logistics and gave the company a hold rating in a research note on Saturday, August 5th. Finally, ValuEngine raised shares of PBF Logistics from a hold rating to a buy rating in a research note on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. PBF Logistics currently has an average rating of Hold and a consensus target price of $24.00.

Shares of PBF Logistics (PBFX) opened at 20.40 on Friday. The company has a 50 day moving average of $21.17 and a 200-day moving average of $20.50. PBF Logistics has a one year low of $17.45 and a one year high of $22.70. The stock has a market cap of $854.60 million, a price-to-earnings ratio of 9.23 and a beta of 1.30.

PBF Logistics (NYSE:PBFX) last announced its earnings results on Thursday, August 3rd. The pipeline company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.09). PBF Logistics had a net margin of 39.25% and a return on equity of 62.40%. The firm had revenue of $62.30 million during the quarter, compared to analyst estimates of $58.69 million. During the same period in the previous year, the firm posted $0.41 EPS. The company’s revenue for the quarter was up 53.1% compared to the same quarter last year. On average, analysts anticipate that PBF Logistics will post $2.25 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This news story was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright law. The original version of this news story can be read at https://ledgergazette.com/2017/10/10/bidaskclub-lowers-pbf-logistics-lp-pbfx-to-sell.html.

Hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Group AG increased its stake in shares of PBF Logistics by 44.9% during the 1st quarter. UBS Group AG now owns 646,881 shares of the pipeline company’s stock valued at $13,941,000 after acquiring an additional 200,484 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in shares of PBF Logistics during the 2nd quarter valued at about $1,065,000. BP Capital Fund Advisors LLC increased its stake in shares of PBF Logistics by 6.5% during the 1st quarter. BP Capital Fund Advisors LLC now owns 127,229 shares of the pipeline company’s stock valued at $2,742,000 after acquiring an additional 7,730 shares during the last quarter. Bank of America Corp DE increased its stake in shares of PBF Logistics by 22.3% during the 1st quarter. Bank of America Corp DE now owns 81,906 shares of the pipeline company’s stock valued at $1,765,000 after acquiring an additional 14,931 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its stake in shares of PBF Logistics by 20.8% during the 1st quarter. OppenheimerFunds Inc. now owns 895,593 shares of the pipeline company’s stock valued at $

Several other brokerages also recently weighed in on PBFX. Zacks Investment Research downgraded shares of PBF Logistics from a hold rating to a sell rating in a research note on Saturday, September 30th. Credit Suisse Group set a $24.00 price objective on shares of PBF Logistics and gave the company a hold rating in a research note on Saturday, August 5th. Finally, ValuEngine raised shares of PBF Logistics from a hold rating to a buy rating in a research note on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. PBF Logistics currently has an average rating of Hold and a consensus target price of $24.00.

Shares of PBF Logistics (PBFX) opened at 20.40 on Friday. The company has a 50 day moving average of $21.17 and a 200-day moving average of $20.50. PBF Logistics has a one year low of $17.45 and a one year high of $22.70. The stock has a market cap of $854.60 million, a price-to-earnings ratio of 9.23 and a beta of 1.30.

PBF Logistics (NYSE:PBFX) last announced its earnings results on Thursday, August 3rd. The pipeline company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.09). PBF Logistics had a net margin of 39.25% and a return on equity of 62.40%. The firm had revenue of $62.30 million during the quarter, compared to analyst estimates of $58.69 million. During the same period in the previous year, the firm posted $0.41 EPS. The company’s revenue for the quarter was up 53.1% compared to the same quarter last year. On average, analysts anticipate that PBF Logistics will post $2.25 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This news story was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright law. The original version of this news story can be read at https://ledgergazette.com/2017/10/10/bidaskclub-lowers-pbf-logistics-lp-pbfx-to-sell.html.

Hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Group AG increased its stake in shares of PBF Logistics by 44.9% during the 1st quarter. UBS Group AG now owns 646,881 shares of the pipeline company’s stock valued at $13,941,000 after acquiring an additional 200,484 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in shares of PBF Logistics during the 2nd quarter valued at about $1,065,000. BP Capital Fund Advisors LLC increased its stake in shares of PBF Logistics by 6.5% during the 1st quarter. BP Capital Fund Advisors LLC now owns 127,229 shares of the pipeline company’s stock valued at $2,742,000 after acquiring an additional 7,730 shares during the last quarter. Bank of America Corp DE increased its stake in shares of PBF Logistics by 22.3% during the 1st quarter. Bank of America Corp DE now owns 81,906 shares of the pipeline company’s stock valued at $1,765,000 after acquiring an additional 14,931 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its stake in shares of PBF Logistics by 20.8% during the 1st quarter. OppenheimerFunds Inc. now owns 895,593 shares of the pipeline company’s stock valued at $19,300,000 after acquiring an additional 154,308 shares during the last quarter. 42.47% of the stock is owned by 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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