PBF Logistics (PBFX) Upgraded to Buy at ValuEngine

ValuEngine upgraded shares of PBF Logistics (NYSE:PBFX) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of PBF Logistics from a hold rating to a sell rating in a research note on Thursday, January 4th. Citigroup dropped their price objective on shares of PBF Logistics from $25.00 to $22.50 and set a buy rating for the company in a research note on Tuesday, March 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $23.50.

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NYSE:PBFX opened at $20.20 on Wednesday. The firm has a market cap of $846.40, a P/E ratio of 9.31, a P/E/G ratio of 2.43 and a beta of 1.18. PBF Logistics has a one year low of $17.75 and a one year high of $22.30. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 3.49.

PBF Logistics (NYSE:PBFX) last released its earnings results on Thursday, February 15th. The pipeline company reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.09). The company had revenue of $66.51 million for the quarter, compared to analyst estimates of $66.81 million. PBF Logistics had a net margin of 36.52% and a return on equity of 60.45%. PBF Logistics’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.57 earnings per share. analysts forecast that PBF Logistics will post 2.19 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN raised its stake in shares of PBF Logistics by 4.0% in the 3rd quarter. Wells Fargo & Company MN now owns 85,529 shares of the pipeline company’s stock valued at $1,796,000 after buying an additional 3,319 shares in the last quarter. Global X Management Co. LLC raised its stake in shares of PBF Logistics by 1.5% in the 4th quarter. Global X Management Co. LLC now owns 400,732 shares of the pipeline company’s stock valued at $8,395,000 after buying an additional 6,045 shares in the last quarter. First Republic Investment Management Inc. acquired a new position in shares of PBF Logistics in the 3rd quarter valued at $206,000. Renaissance Technologies LLC raised its stake in shares of PBF Logistics by 5.9% in the 4th quarter. Renaissance Technologies LLC now owns 234,915 shares of the pipeline company’s stock valued at $4,921,000 after buying an additional 13,127 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of PBF Logistics in the 4th quarter valued at $484,000. Institutional investors own 35.35% of the company’s stock.

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PBF Logistics Company Profile

PBF Logistics LP owns, leases, acquires, develops, and operates crude oil and refined petroleum products terminals, pipelines, storage facilities, and other logistics assets in the United States. It operates through Transportation and Terminaling, and Storage segments. The company's assets include Delaware City rail unloading terminal, a light crude oil rail unloading terminal, which serves Delaware City and Paulsboro refineries; Toledo truck unloading Terminal, that serves Toledo refinery; Delaware City west heavy unloading rack, a heavy crude oil unloading facility, which serves Delaware City refinery; and a terminaling facility that consists of 27 propane storage bullets and a truck loading facility.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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