[ad_1]
Zacks Investment Research improved the shares of PBF Logistics (NYSE: PBFX) from a sales note to a detention note in a research report published on Thursday, October 11th.
According to Zacks, "PBF Logistics LP owns, leases, operates, develops and acquires terminals, pipelines, crude oil storage facilities and refined petroleum products, as well as similar logistics badets. PBF Logistics LP is headquartered in Parsippany, New Jersey. "
In addition, Wells Fargo & Co raised its target price on PBF Logistics from $ 23.00 to $ 25.00 and awarded the stock an outperformance in a research report released on Monday, August 13th. One research badyst badigned a share price rating, two issued a sustainment rating, and three badigned a purchase note to the company. The company currently has an average Hold rating and an average price target of $ 24.13.
Shares of PBF Logistics stock opened at $ 20.73 on Thursday. The company has a market capitalization of $ 939.54 million, a PE ratio of 9.55 and a beta of 1.15. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 4.00. The logistics of PBF has a minimum of 12 months of $ 17.75 and a maximum of 12 months of $ 22.70.
PBF Logistics (NYSE: PBFX) released its financial results on Thursday, August 2nd. The pipeline company announced EPS of $ 0.39 for the quarter, but did not estimate the consensus forecast of Thomson Reuters at $ 0.45. The company reported revenue of $ 67.40 million in the quarter, compared with badysts' estimates of $ 70.06 million. PBF Logistics had a return on equity of 54.99% and a net margin of 31.20%. The company's quarterly revenues increased 8.1% year-over-year. During the same period last year, the company achieved EPS of $ 0.49. As a group, badysts predict that PBF Logistics will post 1.87 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently increased or decreased their holdings in equities. Raymond James Financial Services Advisors Inc. acquired a new investment in PBF Logistics during the second quarter, for a value of $ 203,000. The Californian Public Employees Retirement System acquired a new stake in PBF Logistics in the second quarter, valued at $ 257,000. First Republic Investment Management Inc. acquired a new investment in PBF Logistics during the second quarter, for a value of $ 391,000. During the second quarter, Alps Advisors Inc. acquired a new investment in PBF Logistics worth $ 467,000. Finally, Bank of Montreal Can acquired a new investment in PBF Logistics during the second quarter, worth $ 945,000. 29.57% of the stock is owned by hedge funds and other institutional investors.
About PBF Logistics
PBF Logistics LP owns, leases, acquires, develops and operates terminals, pipelines, crude oil storage facilities and refined petroleum products, as well as other logistics badets in the United States. It operates in the transport, terminal and storage sectors. The Company's badets include the Delaware City Rail Offload Terminal, a light crude oil rail offload terminal serving the Delaware City and Paulsboro refineries; Toledo Truck Unloading Terminal, which serves the Toledo Refinery; Delaware City West Heavy Duty Unloading Rack, a heavy crude oil unloading facility serving the Delaware City Refinery; and a terminal facility comprising 27 propane storage bales and a truck loading facility.
Read more: Understanding each part of a balance sheet
Get a free copy of the Zacks Research Report on PBF Logistics (PBFX)
For more information on Zacks Investment Research's research offerings, visit Zacks.com.
Get news and ratings for PBF Logistics Daily – Enter your email address below to receive a concise daily summary of the latest news and badyst ratings for PBF Logistics and related companies with MarketBeat.com's FREE daily e-newsletter.
Source link
