PBF Logistics LP (NYSE:PBFX) had its price objective reduced by investment analysts at UBS AG from $28.00 to $24.00 in a research report issued on Tuesday, October 17th, 99wallstreet.com reports. The firm presently has a “buy” rating on the pipeline company’s stock. UBS AG’s price objective would suggest a potential upside of 24.03% from the stock’s previous close.
Other equities research analysts have also issued reports about the company. ValuEngine upgraded PBF Logistics from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. BidaskClub raised shares of PBF Logistics from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Credit Suisse Group set a $24.00 target price on shares of PBF Logistics and gave the stock a “hold” rating in a report on Saturday, August 5th. Finally, Zacks Investment Research downgraded shares of PBF Logistics from a “hold” rating to a “sell” rating in a report on Saturday, September 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $24.00.
PBF Logistics (NYSE PBFX) traded up 1.29% during midday trading on Tuesday, hitting $19.60. 17,820 shares of the stock were exchanged. The firm has a 50 day moving average of $20.75 and a 200-day moving average of $20.41. The stock has a market cap of $821.08 million, a price-to-earnings ratio of 8.87 and a beta of 1.30. PBF Logistics has a 12-month low of $17.45 and a 12-month high of $22.70.
PBF Logistics (NYSE:PBFX) last posted its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.09). The company had revenue of $62.30 million during the quarter, compared to analysts’ expectations of $58.69 million. PBF Logistics had a return on equity of 62.40% and a net margin of 39.25%. The company’s revenue for the quarter was up 53.1% on a year-over-year basis. During the same quarter last year, the company earned $0.41 earnings per share. On average, equities analysts expect that PBF Logistics will post $2.22 earnings per share for the current year.
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Several large investors have recently modified their holdings of PBFX. State of New Jersey Common Pension Fund D bought a new position in shares of PBF Logistics during the third quarter valued at approximately $1,222,000. NBW Capital LLC boosted its stake in PBF Logistics by 2.8% in the second quarter. NBW Capital LLC now owns 403,291 shares of the pipeline company’s stock valued at $7,864,000 after acquiring an additional 11,006 shares in the last quarter. GSA Capital Partners LLP boosted its stake in PBF Logistics by 9.1% in the second quarter. GSA Capital Partners LLP now owns 13,314 shares of the pipeline company’s stock valued at $260,000 after acquiring an additional 1,114 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in PBF Logistics by 11.7% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 24,900 shares of the pipeline company’s stock valued at $486,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in PBF Logistics by 18.5% in the second quarter. Wells Fargo & Company MN now owns 82,210 shares of the pipeline company’s stock valued at $1,603,000 after acquiring an additional 12,852 shares in the last quarter. 42.38% of the stock is currently owned by institutional investors and hedge funds.
About PBF Logistics
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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