USD Partners (USDP) Cut to Hold at Zacks Investment Research

USD Partners (NYSE:USDP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “USD Partners LP acquires, develops and operates energy-related rail terminals and other and complementary midstream infrastructure assets and businesses. Its assets consist primarily of an origination crude-by-rail terminal in Hardisty, Alberta, Canada and two destination unit train-capable ethanol rail terminals in San Antonio, Texas, and West Colton, California. The Company also provides railcar services. USD Partners LP is headquartered in Houston, Texas. “

Several other equities analysts also recently issued reports on USDP. ValuEngine raised shares of USD Partners from a “strong sell” rating to a “sell” rating in a report on Friday, October 19th. B. Riley set a $14.00 price objective on shares of USD Partners and gave the company a “buy” rating in a report on Sunday, July 8th. Finally, Janney Montgomery Scott upgraded shares of USD Partners from a “neutral” rating to a “buy” rating in a research report on Tuesday, July 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $13.00.

USDP traded down $0.22 during midday trading on Friday, hitting $10.98. 88,402 shares of the company traded hands, compared to its average volume of 52,538. The company has a quick ratio of 2.18, a current ratio of 2.41 and a debt-to-equity ratio of 2.65. The company has a market cap of $281.15 million, a price-to-earnings ratio of 12.47 and a beta of 0.75. USD Partners has a 52-week low of $9.15 and a 52-week high of $12.00.

USD Partners (NYSE:USDP) last posted its quarterly earnings data on Tuesday, August 7th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.01). The company had revenue of $29.58 million for the quarter, compared to analysts’ expectations of $31.29 million. USD Partners had a net margin of 18.84% and a return on equity of 30.36%. On average, research analysts forecast that USD Partners will post 1.04 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. HITE Hedge Asset Management LLC increased its position in USD Partners by 227.0% during the second quarter. HITE Hedge Asset Management LLC now owns 216,787 shares of the transportation company’s stock worth $2,330,000 after purchasing an additional 150,499 shares during the last quarter. Intrinsic Edge Capital Management LLC acquired a new stake in USD Partners during the second quarter worth about $753,000. Arrow Investment Advisors LLC acquired a new stake in USD Partners during the second quarter worth about $491,000. Renaissance Technologies LLC acquired a new stake in USD Partners during the second quarter worth about $292,000. Finally, First Republic Investment Management Inc. acquired a new stake in USD Partners during the second quarter worth about $181,000. Institutional investors and hedge funds own 26.03% of the company’s stock.

USD Partners Company Profile

USD Partners LP acquires, develops, and operates midstream infrastructure assets and logistics solutions for crude oil, biofuels, and other energy-related products in the United States and Canada. The company operates through Terminalling Services and Fleet Services segments. The Terminalling Services segment owns and operates Hardisty terminal, an origination terminal for loading various grades of Canadian crude oil onto railcars for transportation to end markets; Stroud terminal, a crude oil destination terminal, which is used to facilitate rail-to-pipeline shipments of crude oil located in Stroud, Oklahoma; Casper terminal, a crude oil storage, blending, and railcar loading terminal located in Casper, Wyoming; and terminals in San Antonio, Texas and West Colton, California, which are unit train-capable destination terminals that transload ethanol received by rail from producers onto trucks.

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