CVR Partners (NYSE:UAN) Shares Gap Down on Disappointing Earnings

CVR Partners, LP (NYSE:UAN)’s stock price gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $124.76, but opened at $115.20. CVR Partners shares last traded at $118.66, with a volume of 21,586 shares.

The basic materials company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($2.64). CVR Partners had a net margin of 23.67% and a return on equity of 51.56%. The company had revenue of $146.15 million during the quarter, compared to analyst estimates of $165.40 million.

Wall Street Analyst Weigh In

Several research firms recently issued reports on UAN. Freedom Broker assumed coverage on shares of CVR Partners in a research note on Tuesday, October 27th. They issued a “hold” rating and a $124.00 target price for the company. Weiss Ratings restated a “buy (b)” rating on shares of CVR Partners in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.00.

Hedge Funds Weigh In On CVR Partners

Several institutional investors and hedge funds have recently modified their holdings of the business. Apollon Wealth Management LLC boosted its position in CVR Partners by 2.0% during the third quarter. Apollon Wealth Management LLC now owns 7,873 shares of the basic materials company’s stock worth $974,000 after purchasing an additional 158 shares in the last quarter. Samalin Investment Counsel LLC increased its position in shares of CVR Partners by 8.0% in the third quarter. Samalin Investment Counsel LLC now owns 3,075 shares of the basic materials company’s stock valued at $381,000 after buying an additional 227 shares in the last quarter. Arrow Investment Advisors LLC increased its position in shares of CVR Partners by 18.4% in the third quarter. Arrow Investment Advisors LLC now owns 2,149 shares of the basic materials company’s stock valued at $266,000 after buying an additional 334 shares in the last quarter. State of Wyoming purchased a new stake in shares of CVR Partners in the third quarter valued at approximately $77,000. Finally, Royal Bank of Canada raised its stake in shares of CVR Partners by 30.6% during the 1st quarter. Royal Bank of Canada now owns 11,054 shares of the basic materials company’s stock worth $1,400,000 after buying an additional 2,591 shares during the period. Hedge funds and other institutional investors own 43.83% of the company’s stock.

CVR Partners Trading Down 4.9%

The company has a debt-to-equity ratio of 1.64, a quick ratio of 2.11 and a current ratio of 3.01. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 7.83 and a beta of 0.21. The company has a 50 day moving average price of $127.94 and a two-hundred day moving average price of $121.59.

About CVR Partners

CVR Partners, LP (NYSE: UAN) is a nitrogen fertilizer producer organized as a master limited partnership and managed by CVR GP, LLC. The company manufactures and sells nitrogen-based fertilizers used primarily in agricultural applications.

Its principal products are ammonia and urea ammonium nitrate (UAN) solution. Ammonia is sold directly to agricultural customers and other users, while UAN is a liquid fertilizer commonly applied to crops. CVR Partners markets its products to distributors, retailers, and agricultural customers.

CVR Partners operates production facilities in Coffeyville, Kansas, and East Dubuque, Illinois.