Alon USA Energy Inc. (NYSE:ALJ)‘s stock had its “equal weight” rating restated by equities researchers at Barclays PLC in a note issued to investors on Monday. They presently have a $10.00 target price on the stock, up from their previous target price of $8.00. Barclays PLC’s target price suggests a potential upside of 14.42% from the stock’s previous close.
ALJ has been the subject of a number of other reports. Citigroup Inc. started coverage on shares of Alon USA Energy in a research note on Wednesday, September 14th. They set a “buy” rating and a $10.50 target price for the company. Zacks Investment Research lowered shares of Alon USA Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Piper Jaffray Cos. upped their price target on shares of Alon USA Energy from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Friday, September 16th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Alon USA Energy in a research note on Sunday, July 10th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and issued a $9.00 price target on shares of Alon USA Energy in a research note on Friday, July 29th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $9.44.
Shares of Alon USA Energy (NYSE:ALJ) traded up 4.55% on Monday, hitting $8.74. 701,181 shares of the stock were exchanged. Alon USA Energy has a one year low of $5.86 and a one year high of $18.27. The firm’s 50-day moving average is $8.10 and its 200-day moving average is $8.16. The company’s market cap is $620.37 million.
Alon USA Energy (NYSE:ALJ) last posted its earnings results on Thursday, July 28th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by $0.02. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $883.85 million. Alon USA Energy had a negative net margin of 1.75% and a negative return on equity of 2.29%. The company’s revenue for the quarter was down 22.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 earnings per share. On average, equities analysts forecast that Alon USA Energy will post ($1.08) EPS for the current fiscal year.
In related news, insider David Wiessman sold 105,000 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $7.33, for a total value of $769,650.00. Following the sale, the insider now directly owns 2,580,541 shares in the company, valued at approximately $18,915,365.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael Oster sold 18,500 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $7.33, for a total transaction of $135,605.00. Following the completion of the sale, the vice president now owns 47,553 shares in the company, valued at $348,563.49. The disclosure for this sale can be found here. 8.80% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Prudential Financial Inc. increased its stake in Alon USA Energy by 18.1% in the first quarter. Prudential Financial Inc. now owns 480,431 shares of the company’s stock worth $4,958,000 after buying an additional 73,648 shares during the last quarter. Acrospire Investment Management LLC purchased a new stake in Alon USA Energy during the first quarter worth about $243,000. Menta Capital LLC raised its stake in Alon USA Energy by 2.4% in the first quarter. Menta Capital LLC now owns 222,121 shares of the company’s stock worth $2,292,000 after buying an additional 5,187 shares in the last quarter. UBS Group AG raised its stake in Alon USA Energy by 67.8% in the first quarter. UBS Group AG now owns 587,220 shares of the company’s stock worth $6,060,000 after buying an additional 237,365 shares in the last quarter. Finally, Hancock Holding Co. raised its stake in Alon USA Energy by 1.7% in the first quarter. Hancock Holding Co. now owns 599,465 shares of the company’s stock worth $6,186,000 after buying an additional 9,760 shares in the last quarter. Institutional investors and hedge funds own 50.46% of the company’s stock.
Alon USA Energy Company Profile
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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