Zacks Investment Research Downgrades Martin Midstream Partners (NASDAQ:MMLP) to Sell

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Martin Midstream Partners (NASDAQ:MMLP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Martin Midstream is a limited partnership which stores and transports hydrocarbon products and specialty chemicals, primarily in the Gulf Coast. It runs a marine transportation business, mostly barges and tugs, and operates storage tanks. “

Other equities research analysts have also issued research reports about the company. ValuEngine upgraded Martin Midstream Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. BidaskClub upgraded Martin Midstream Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Martin Midstream Partners currently has an average rating of “Hold” and an average price target of $14.50.

Shares of MMLP stock opened at $3.92 on Tuesday. The firm has a market capitalization of $152.34 million, a P/E ratio of -20.63 and a beta of 1.24. Martin Midstream Partners has a twelve month low of $3.39 and a twelve month high of $14.32. The company has a quick ratio of 1.07, a current ratio of 1.80 and a debt-to-equity ratio of 2.31. The stock’s fifty day simple moving average is $4.15 and its 200 day simple moving average is $6.85.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings results on Wednesday, July 24th. The pipeline company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.40). Martin Midstream Partners had a negative net margin of 18.38% and a negative return on equity of 15.28%. The company had revenue of $187.32 million during the quarter, compared to the consensus estimate of $181.97 million. As a group, equities research analysts expect that Martin Midstream Partners will post -0.08 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP bought a new stake in shares of Martin Midstream Partners in the 2nd quarter valued at about $857,000. Morgan Stanley grew its position in shares of Martin Midstream Partners by 59.3% in the 2nd quarter. Morgan Stanley now owns 462,442 shares of the pipeline company’s stock valued at $3,303,000 after buying an additional 172,157 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Martin Midstream Partners in the 2nd quarter valued at about $109,000. Invesco Ltd. bought a new stake in shares of Martin Midstream Partners in the 2nd quarter valued at about $58,885,000. Finally, Wells Fargo & Company MN grew its position in shares of Martin Midstream Partners by 25.4% in the 2nd quarter. Wells Fargo & Company MN now owns 24,716 shares of the pipeline company’s stock valued at $176,000 after buying an additional 5,001 shares during the last quarter. Hedge funds and other institutional investors own 27.92% of the company’s stock.

Martin Midstream Partners Company Profile

Martin Midstream Partners L.P. collects, transports, stores, and markets petroleum products and by-products in the United States Gulf Coast region. The company's Terminalling and Storage segment owns or operates 19 marine shore-based terminal facilities and 14 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products.

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