PBF Logistics LP (NYSE:PBFX) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Thursday, July 6th.
A number of other equities analysts have also recently weighed in on the company. TheStreet upgraded PBF Logistics from a “d” rating to a “c” rating in a report on Tuesday, May 30th. Zacks Investment Research lowered PBF Logistics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 10th.
PBF Logistics (PBFX) traded up 0.51% during midday trading on Thursday, hitting $19.90. 102,876 shares of the stock were exchanged. The firm has a 50-day moving average price of $19.61 and a 200-day moving average price of $20.10. The stock has a market cap of $832.89 million, a P/E ratio of 9.33 and a beta of 1.33. PBF Logistics has a one year low of $17.45 and a one year high of $23.00.
PBF Logistics (NYSE:PBFX) last posted its quarterly earnings results on Thursday, May 4th. The pipeline company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by $0.01. PBF Logistics had a net margin of 40.93% and a return on equity of 112.48%. The business had revenue of $60.50 million during the quarter, compared to analysts’ expectations of $58.23 million. During the same quarter last year, the firm earned $0.53 EPS. The firm’s quarterly revenue was up 65.5% compared to the same quarter last year. On average, equities research analysts anticipate that PBF Logistics will post $2.11 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of PBFX. Tower Research Capital LLC TRC increased its position in shares of 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 during the last quarter. M&T Bank Corp bought a new position in shares of PBF Logistics during the first quarter worth approximately $505,000. Bank of Montreal Can bought a new position in shares of PBF Logistics during the first quarter worth approximately $539,000. Hollencrest Securities LLC bought a new position in shares of PBF Logistics during the first quarter worth approximately $1,075,000. Finally, Wells Fargo & Company MN increased its position in shares of PBF Logistics by 17.5% in the first quarter. Wells Fargo & Company MN now owns 69,358 shares of the pipeline company’s stock worth $1,494,000 after buying an additional 10,330 shares during the last quarter. Hedge funds and other institutional investors own 72.18% of the company’s stock.
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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