Green Plains Partners LP (NASDAQ:GPP) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, October 18th.
Several other equities research analysts also recently commented on GPP. Stifel Nicolaus reissued a “buy” rating and set a $22.00 target price on shares of Green Plains Partners in a research report on Friday, June 23rd. Zacks Investment Research downgraded shares of Green Plains Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Bank of America Corporation downgraded shares of Green Plains Partners from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $22.00 to $19.00 in a research report on Wednesday, August 2nd. Roth Capital set a $24.00 target price on shares of Green Plains Partners and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, Robert W. Baird reissued a “buy” rating and set a $24.00 target price on shares of Green Plains Partners in a research report on Thursday, August 24th. Three research analysts have rated the stock with a sell rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $22.00.
Shares of Green Plains Partners (NASDAQ:GPP) traded up 0.25% during trading on Wednesday, hitting $20.00. The stock had a trading volume of 25,766 shares. The stock’s 50 day moving average is $19.83 and its 200 day moving average is $19.32. The stock has a market capitalization of $636.26 million, a price-to-earnings ratio of 11.06 and a beta of 1.00. Green Plains Partners has a 52 week low of $17.05 and a 52 week high of $21.50.
Green Plains Partners (NASDAQ:GPP) last posted its quarterly earnings results on Monday, July 31st. The transportation company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.10). Green Plains Partners had a net margin of 54.97% and a negative return on equity of 90.84%. The company had revenue of $25.10 million during the quarter, compared to the consensus estimate of $29.62 million. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts expect that Green Plains Partners will post $1.84 earnings per share for the current fiscal year.
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Hedge funds have recently modified their holdings of the business. State of New Jersey Common Pension Fund D purchased a new position in Green Plains Partners in the third quarter valued at about $1,960,000. Mondrian Investment Partners LTD boosted its stake in Green Plains Partners by 107.3% in the second quarter. Mondrian Investment Partners LTD now owns 179,596 shares of the transportation company’s stock valued at $3,358,000 after acquiring an additional 92,963 shares during the last quarter. Arrow Investment Advisors LLC purchased a new position in Green Plains Partners in the second quarter valued at about $638,000. Sigma Planning Corp purchased a new position in Green Plains Partners in the second quarter valued at about $503,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Green Plains Partners in the second quarter valued at about $327,000. 44.81% of the stock is owned by institutional investors and hedge funds.
About Green Plains Partners
Green Plains Partners LP provides fuel storage and transportation services. The Company owns, operates, develops and acquires ethanol and fuel storage facilities, terminals, transportation assets, and other related assets and businesses. The Company’s parent company is Green Plains Inc (Green Plains).
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