PBF Logistics (PBFX) Rating Lowered to Sell at Zacks Investment Research

PBF Logistics (NYSE:PBFX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note 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 firms also recently issued reports on PBFX. BidaskClub upgraded PBF Logistics from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. UBS Group dropped their price target on PBF Logistics from $28.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $24.00.

Shares of PBF Logistics (PBFX) traded down $0.15 on Wednesday, reaching $21.35. The company’s stock had a trading volume of 167,100 shares, compared to its average volume of 80,240. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.40. PBF Logistics has a 1-year low of $18.55 and a 1-year high of $22.70. The stock has a market cap of $900.74, a P/E ratio of 9.53, a price-to-earnings-growth ratio of 2.23 and a beta of 1.26.

PBF Logistics (NYSE:PBFX) last released its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.05. The firm had revenue of $65.50 million for 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%. The company’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same period last year, the business posted $0.50 EPS. equities analysts expect that PBF Logistics will post 2.28 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP raised its holdings in PBF Logistics by 9.1% in the 2nd quarter. GSA Capital Partners LLP now owns 13,314 shares of the pipeline company’s stock worth $260,000 after purchasing an additional 1,114 shares during the period. Wells Fargo & Company MN raised its holdings in PBF Logistics by 4.0% in the 3rd quarter. Wells Fargo & Company MN now owns 85,529 shares of the pipeline company’s stock worth $1,796,000 after purchasing an additional 3,319 shares during the period. First Republic Investment Management Inc. bought a new position in PBF Logistics in the 3rd quarter worth $206,000. NBW Capital LLC raised its holdings in PBF Logistics by 2.8% in the 2nd quarter. NBW Capital LLC now owns 403,291 shares of the pipeline company’s stock worth $7,864,000 after purchasing an additional 11,006 shares during the period. Finally, Global X MANAGEMENT CO LLC raised its holdings in PBF Logistics by 3.4% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 394,687 shares of the pipeline company’s stock worth $8,288,000 after purchasing an additional 13,150 shares during the period. 37.36% of the stock is currently owned by 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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