Alon USA Energy Inc. (NYSE:ALJ) was upgraded by research analysts at Credit Suisse Group AG from a “neutral” rating to an “outperform” rating in a research report issued on Tuesday. The firm presently has a $10.50 target price on the stock, up from their previous target price of $7.00. Credit Suisse Group AG’s price target points to a potential upside of 17.71% from the stock’s previous close.
ALJ has been the subject of several other reports. Citigroup Inc. started coverage on Alon USA Energy in a research report on Wednesday, September 14th. They set a “buy” rating and a $10.50 price target for the company. Zacks Investment Research cut Alon USA Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. Piper Jaffray Cos. boosted their price target on Alon USA Energy from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Friday, September 16th. Barclays PLC reissued an “equal weight” rating and set a $10.00 price objective (up previously from $8.00) on shares of Alon USA Energy in a research note on Monday. Finally, Wells Fargo & Co. reissued a “hold” rating on shares of Alon USA Energy in a research note on Sunday, July 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Alon USA Energy presently has an average rating of “Hold” and an average target price of $9.63.
Alon USA Energy (NYSE:ALJ) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.02. Alon USA Energy had a negative return on equity of 2.29% and a negative net margin of 1.75%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $883.85 million. During the same quarter in the previous year, the firm posted $0.67 earnings per share. The firm’s revenue for the quarter was down 22.5% compared to the same quarter last year.
In other news, insider David Wiessman sold 175,000 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $6.90, for a total value of $1,207,500.00. Following the transaction, the insider now owns 2,910,541 shares of the company’s stock, valued at approximately $20,082,732.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Michael Oster sold 18,500 shares of the company’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $7.33, for a total value of $135,605.00. Following the completion of the transaction, the vice president now directly owns 47,553 shares in the company, valued at approximately $348,563.49. The disclosure for this sale can be found here. 8.80% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp raised its position in shares of Alon USA Energy by 31.6% in the second quarter. Van ECK Associates Corp now owns 17,965 shares of the company’s stock valued at $116,000 after buying an additional 4,313 shares during the period. Janus Capital Management LLC acquired a new position in shares of Alon USA Energy during the second quarter valued at approximately $150,000. Zacks Investment Management acquired a new position in shares of Alon USA Energy during the second quarter valued at approximately $160,000. Thompson Siegel & Walmsley LLC acquired a new position in shares of Alon USA Energy during the second quarter valued at approximately $209,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of Alon USA Energy by 8.3% in the second quarter. Public Employees Retirement System of Ohio now owns 35,582 shares of the company’s stock valued at $231,000 after buying an additional 2,721 shares during the period. 50.46% of the stock is currently owned by institutional investors and hedge funds.
About Alon USA Energy
Alon USA Energy, Inc is an independent refiner and marketer of petroleum products, operating primarily in the South Central, Southwestern and Western regions of the United States. The Company operates through three segments: refining and marketing, asphalt and retail. Its refineries produce petroleum products, including various grades of gasoline, diesel fuel, jet fuel, petrochemicals, petrochemical feedstocks, asphalt and other petroleum-based products.
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