PBF Logistics (PBFX) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of PBF Logistics (NYSE:PBFX) from a hold rating to a sell rating in a research note released on Thursday.

According to Zacks, “PBF Logistics LP engages in owning, leasing, operating, developing and acquiring crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets. PBF Logistics LP is headquartered in Parsippany, New Jersey. “

Other analysts have also issued research reports about the stock. BidaskClub upgraded shares of PBF Logistics from a strong sell rating to a sell rating in a research report on Friday, November 3rd. UBS Group dropped their target price on shares of PBF Logistics from $28.00 to $24.00 and set a buy rating on the stock in a research report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $24.00.

PBF Logistics (NYSE:PBFX) traded down $0.15 during mid-day trading on Thursday, reaching $21.45. 98,700 shares of the company traded hands, compared to its average volume of 99,867. The firm has a market capitalization of $898.64, a price-to-earnings ratio of 9.58, a PEG ratio of 2.17 and a beta of 1.26. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.40. PBF Logistics has a 52 week low of $18.55 and a 52 week high of $22.70.

PBF Logistics (NYSE:PBFX) last released its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.05. The company had revenue of $65.50 million for the quarter, compared to analyst estimates of $64.60 million. PBF Logistics had a net margin of 38.76% and a return on equity of 64.05%. The firm’s revenue was up 35.2% on a year-over-year basis. During the same quarter last year, the business earned $0.50 earnings per share. research analysts predict that PBF Logistics will post 2.28 EPS for the current year.

Large investors have recently bought and sold shares of the company. First Republic Investment Management Inc. purchased a new position in PBF Logistics during the third quarter worth about $206,000. GSA Capital Partners LLP raised its stake in PBF Logistics by 9.1% during the second quarter. GSA Capital Partners LLP now owns 13,314 shares of the pipeline company’s stock worth $260,000 after purchasing an additional 1,114 shares during the period. Institutional & Family Asset Management LLC purchased a new position in PBF Logistics during the third quarter worth about $299,000. Alps Advisors Inc. purchased a new position in PBF Logistics during the third quarter worth about $468,000. Finally, Fort Washington Investment Advisors Inc. OH raised its stake in PBF Logistics by 11.7% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 24,900 shares of the pipeline company’s stock worth $486,000 after purchasing an additional 2,600 shares during the period. 37.36% of the stock is currently owned by hedge funds and other institutional investors.

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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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