PBF Logistics LP (PBFX) Lowered to Sell at BidaskClub

BidaskClub lowered shares of PBF Logistics LP (NYSE:PBFX) from a hold rating to a sell rating in a research note issued to investors on Friday, October 6th.

Other analysts have also issued reports about the company. Zacks Investment Research lowered PBF Logistics from a hold rating to a sell rating in a research note on Wednesday, August 9th. ValuEngine raised PBF Logistics from a hold rating to a buy rating in a research note on Thursday, July 6th. Finally, Credit Suisse Group set a $24.00 price objective on PBF Logistics and gave the company a hold rating in a research note on Saturday, August 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. PBF Logistics currently has an average rating of Hold and an average price target of $24.00.

Shares of PBF Logistics (PBFX) opened at 20.30 on Friday. The stock has a 50 day moving average of $21.12 and a 200 day moving average of $20.48. PBF Logistics has a 52 week low of $17.45 and a 52 week high of $22.70. The firm has a market cap of $850.41 million, a P/E ratio of 9.19 and a beta of 1.30.

PBF Logistics (NYSE:PBFX) last released its earnings results on Thursday, August 3rd. The pipeline company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.09). The company had revenue of $62.30 million for the quarter, compared to analyst estimates of $58.69 million. PBF Logistics had a return on equity of 62.40% and a net margin of 39.25%. The business’s revenue for the quarter was up 53.1% compared to the same quarter last year. During the same period last year, the company posted $0.41 earnings per share. Analysts anticipate that PBF Logistics will post $2.25 earnings per share for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the stock. UBS Group AG boosted its stake in PBF Logistics by 44.9% in the first quarter. UBS Group AG now owns 646,881 shares of the pipeline company’s stock valued at $13,941,000 after buying an additional 200,484 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of PBF Logistics during the second quarter valued at about $1,065,000. BP Capital Fund Advisors LLC boosted its stake in shares of PBF Logistics by 6.5% during the first quarter. BP Capital Fund Advisors LLC now owns 127,229 shares of the pipeline company’s stock valued at $2,742,000 after purchasing an additional 7,730 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of PBF Logistics by 22.3% during the first quarter. Bank of America Corp DE now owns 81,906 shares of the pipeline company’s stock valued at $1,765,000 after purchasing an additional 14,931 shares in the last quarter. Finally, Global X Management Co. LLC boosted its stake in shares of PBF Logistics by 4,529.5% during the first quarter. Global X Management Co. LLC now owns 369,991 shares of the pipeline company’s stock valued at $7,973,000 after purchasing an additional 361,999 shares in the last quarter. 42.47% of the stock is currently owned by institutional investors and hedge funds.

PBF Logistics Company Profile

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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