PBF Logistics (PBFX) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of PBF Logistics (NYSE:PBFX) from a hold rating to a sell rating in a report issued on Wednesday.

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. “

A number of other research analysts also recently commented on the company. BidaskClub raised PBF Logistics from a strong sell rating to a sell rating in a research note on Friday, November 3rd. UBS Group dropped their price target on PBF Logistics from $28.00 to $24.00 and set a buy rating for the company in a research note on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $24.00.

PBF Logistics (NYSE PBFX) traded down $0.25 during mid-day trading on Wednesday, reaching $21.05. The company had a trading volume of 52,915 shares, compared to its average volume of 65,079. The firm has a market capitalization of $881.89, a P/E ratio of 9.40, a PEG ratio of 2.19 and a beta of 1.26. PBF Logistics has a fifty-two week low of $18.55 and a fifty-two week high of $22.70. The company has a debt-to-equity ratio of 3.40, a quick ratio of 1.26 and a current ratio of 1.26.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the business. 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 acquiring an additional 1,114 shares in the last quarter. Wells Fargo & Company MN raised its stake in PBF Logistics by 4.0% during the third quarter. Wells Fargo & Company MN now owns 85,529 shares of the pipeline company’s stock worth $1,796,000 after acquiring an additional 3,319 shares in the last quarter. First Republic Investment Management Inc. acquired a new position in PBF Logistics during the third quarter worth about $206,000. NBW Capital LLC raised its stake in PBF Logistics by 2.8% during the second quarter. NBW Capital LLC now owns 403,291 shares of the pipeline company’s stock worth $7,864,000 after acquiring an additional 11,006 shares in the last quarter. Finally, Global X MANAGEMENT CO LLC raised its stake in PBF Logistics by 3.4% during the third quarter. Global X MANAGEMENT CO LLC now owns 394,687 shares of the pipeline company’s stock worth $8,288,000 after acquiring an additional 13,150 shares in the last quarter. 37.36% of the stock is 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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