PBF Logistics LP (PBFX) Rating Increased to Sell at BidaskClub

PBF Logistics LP (NYSE:PBFX) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Friday, November 3rd.

A number of other research analysts also recently weighed in on the company. Zacks Investment Research raised PBF Logistics from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. UBS AG lowered their price objective on shares of PBF Logistics from $28.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, October 17th. Credit Suisse Group set a $24.00 price objective on shares of PBF Logistics and gave the company a “hold” rating in a research report on Saturday, August 5th. Finally, ValuEngine upgraded shares of PBF Logistics from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. One equities research 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. PBF Logistics presently has a consensus rating of “Hold” and a consensus target price of $24.00.

Shares of PBF Logistics (PBFX) opened at $19.25 on Friday. The firm has a market capitalization of $816.95, a P/E ratio of 8.71, a PEG ratio of 2.17 and a beta of 1.26. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.40. PBF Logistics has a 12 month low of $17.45 and a 12 month high of $22.70.

PBF Logistics (NYSE:PBFX) last announced its earnings results on Thursday, November 2nd. The pipeline company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. PBF Logistics had a return on equity of 64.05% and a net margin of 38.76%. The business had revenue of $65.50 million for the quarter, compared to the consensus estimate of $64.60 million. During the same period in the previous year, the business earned $0.50 EPS. PBF Logistics’s revenue was up 35.2% compared to the same quarter last year. sell-side analysts predict that PBF Logistics will post 2.24 earnings per share for the current year.

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A number of large investors have recently made changes to their positions in PBFX. First Republic Investment Management Inc. bought a new position in PBF Logistics in the third quarter valued at approximately $206,000. GSA Capital Partners LLP grew its stake in shares of 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 buying an additional 1,114 shares during the last quarter. Alps Advisors Inc. bought a new stake in shares of PBF Logistics during the third quarter worth $468,000. Fort Washington Investment Advisors Inc. OH grew its stake in shares of 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 buying an additional 2,600 shares during the last quarter. Finally, Arrow Investment Advisors LLC bought a new stake in shares of PBF Logistics during the third quarter worth $793,000. 41.34% 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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