Zacks Investment Research upgraded shares of Alon USA Partners LP (NYSE:ALDW) from a hold rating to a buy rating in a report published on Wednesday morning. They currently have $9.50 target price on the stock.
According to Zacks, “Alon USA Partners, LP owns and operates refining and petroleum products marketing business. The Company’s integrated downstream business operates primarily in the South Central and Southwestern regions of the United States. It refines crude oil into finished products, which it market primarily in West Texas, Central Texas, Oklahoma, New Mexico and Arizona. Alon USA Partners, LP is based in Texas. “
ALDW has been the subject of a number of other research reports. Citigroup Inc. increased their price target on Alon USA Partners from $10.80 to $11.50 and gave the company a neutral rating in a report on Wednesday, September 14th. Barclays PLC restated an underweight rating and set a $8.00 price objective (down previously from $9.00) on shares of Alon USA Partners in a research note on Monday, October 10th. Finally, TheStreet upgraded Alon USA Partners from a sell rating to a hold rating in a research note on Wednesday, August 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $10.50.
Shares of Alon USA Partners (NYSE:ALDW) opened at 8.22 on Wednesday. The company has a 50 day moving average price of $9.59 and a 200-day moving average price of $9.90. The stock has a market capitalization of $513.91 million, a P/E ratio of 9.58 and a beta of 0.98. Alon USA Partners has a 1-year low of $8.07 and a 1-year high of $26.67.
Alon USA Partners (NYSE:ALDW) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by $0.07. The business earned $468.46 million during the quarter, compared to analysts’ expectations of $417.45 million. Alon USA Partners had a net margin of 2.94% and a return on equity of 38.88%. The company’s revenue for the quarter was down 25.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 EPS. On average, equities research analysts forecast that Alon USA Partners will post ($0.12) EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services Inc boosted its stake in shares of Alon USA Partners by 19.4% in the second quarter. Commonwealth Equity Services Inc now owns 13,117 shares of the company’s stock worth $132,000 after buying an additional 2,134 shares during the last quarter. Sigma Planning Corp boosted its stake in shares of Alon USA Partners by 14.1% in the second quarter. Sigma Planning Corp now owns 15,587 shares of the company’s stock worth $157,000 after buying an additional 1,925 shares during the last quarter. Clinton Group Inc. bought a new stake in shares of Alon USA Partners during the second quarter worth $171,000. Creative Planning boosted its stake in shares of Alon USA Partners by 27.0% in the second quarter. Creative Planning now owns 17,700 shares of the company’s stock worth $179,000 after buying an additional 3,765 shares during the last quarter. Finally, WealthTrust Axiom LLC boosted its stake in shares of Alon USA Partners by 88.9% in the second quarter. WealthTrust Axiom LLC now owns 34,000 shares of the company’s stock worth $343,000 after buying an additional 16,000 shares during the last quarter. Institutional investors and hedge funds own 5.96% of the company’s stock.
Alon USA Partners Company Profile
Alon USA Partners, LP (Alon) is engaged principally in the business of operating a crude oil refinery in Big Spring, Texas, with a crude oil throughput capacity of approximately 73,000 barrels per day, which the Company refers to as its Big Spring refinery. The Company refines crude oil into finished products, which the Company markets primarily in Central and West Texas, Oklahoma, New Mexico and Arizona through its integrated wholesale distribution network to retail convenience stores and other third-party distributors.
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