Brokerages Set CVR Partners LP (UAN) Target Price at $6.00

CVR Partners LP (NYSE:UAN) has been given an average recommendation of “Hold” by the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $6.00.

Separately, Zacks Investment Research downgraded shares of CVR Partners from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 6th.

Shares of CVR Partners (UAN) remained flat at $$2.91 during trading hours on Friday. The company had a trading volume of 608,404 shares, compared to its average volume of 662,280. CVR Partners has a fifty-two week low of $2.58 and a fifty-two week high of $5.90. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.22 and a current ratio of 2.02. The company has a market cap of $325.12, a price-to-earnings ratio of -5.55 and a beta of 1.39.

In related news, major shareholder Gso Capital Partners Lp sold 1,900,000 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $3.00, for a total value of $5,700,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Several hedge funds and other institutional investors have recently modified their holdings of UAN. Goldman Sachs Group Inc. grew its stake in shares of CVR Partners by 698.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,270,562 shares of the basic materials company’s stock worth $11,414,000 after purchasing an additional 2,860,954 shares during the period. Anchor Bolt Capital LP acquired a new stake in shares of CVR Partners during the 4th quarter worth approximately $3,864,000. Wells Fargo & Company MN grew its stake in shares of CVR Partners by 288.4% during the 4th quarter. Wells Fargo & Company MN now owns 369,433 shares of the basic materials company’s stock worth $1,211,000 after purchasing an additional 274,314 shares during the period. JPMorgan Chase & Co. grew its stake in shares of CVR Partners by 2,522.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 212,197 shares of the basic materials company’s stock worth $703,000 after purchasing an additional 204,104 shares during the period. Finally, Raging Capital Management LLC grew its stake in shares of CVR Partners by 1.7% during the 4th quarter. Raging Capital Management LLC now owns 9,572,033 shares of the basic materials company’s stock worth $31,396,000 after purchasing an additional 157,489 shares during the period. 22.17% of the stock is currently owned by institutional investors and hedge funds.

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About CVR Partners

CVR Partners, LP is a limited partnership formed by CVR Energy, Inc (CVR Energy) to own, operate and grow its nitrogen fertilizer business. The Company produces and distributes nitrogen fertilizer products, which are used by farmers to manage the yield and quality of their crops. As of December 31, 2016, the Company produced its nitrogen fertilizer products at two manufacturing facilities, located in Coffeyville, Kansas and East Dubuque, Illinois.

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