BidaskClub Upgrades Martin Midstream Partners (NASDAQ:MMLP) to “Hold”

BidaskClub upgraded shares of Martin Midstream Partners (NASDAQ:MMLP) from a sell rating to a hold rating in a research report released on Wednesday morning, BidAskClub reports.

Other research analysts have also issued research reports about the stock. ValuEngine raised shares of Zynerba Pharmaceuticals from a sell rating to a hold rating in a research note on Monday, April 1st. TheStreet lowered shares of Trinity Industries from a b rating to a c rating in a research note on Thursday, April 25th. Finally, Zacks Investment Research upgraded shares of DLH from a sell rating to a hold rating in a research note on Tuesday, July 9th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $14.50.

MMLP opened at $6.85 on Wednesday. The stock has a market capitalization of $269.96 million, a PE ratio of -36.05, a price-to-earnings-growth ratio of 6.97 and a beta of 1.09. The company’s fifty day moving average is $6.78. Martin Midstream Partners has a fifty-two week low of $6.03 and a fifty-two week high of $14.32. The company has a quick ratio of 0.22, a current ratio of 0.36 and a debt-to-equity ratio of 2.31.



Martin Midstream Partners (NASDAQ:MMLP) last released its earnings results on Wednesday, April 24th. The pipeline company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.31). The firm had revenue of $250.97 million during the quarter, compared to the consensus estimate of $276.53 million. Martin Midstream Partners had a negative return on equity of 10.10% and a net margin of 2.78%. On average, analysts anticipate that Martin Midstream Partners will post 0.5 earnings per share for the current year.

In other Martin Midstream Partners news, insider Randall Tauscher bought 20,000 shares of Martin Midstream Partners stock in a transaction on Tuesday, June 11th. The stock was bought at an average price of $6.81 per share, with a total value of $136,200.00. Following the completion of the acquisition, the insider now owns 72,371 shares in the company, valued at $492,846.51. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Chris H. Booth bought 9,500 shares of Martin Midstream Partners stock in a transaction on Tuesday, June 11th. The stock was acquired at an average cost of $6.75 per share, with a total value of $64,125.00. Following the acquisition, the vice president now owns 25,803 shares of the company’s stock, valued at approximately $174,170.25. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 44,285 shares of company stock worth $306,465. 17.00% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new stake in shares of Martin Midstream Partners during the 4th quarter valued at approximately $109,000. Sippican Capital Advisors acquired a new stake in Martin Midstream Partners during the 1st quarter worth about $189,000. Barclays PLC grew its holdings in Martin Midstream Partners by 124.5% during the 4th quarter. Barclays PLC now owns 15,162 shares of the pipeline company’s stock worth $156,000 after acquiring an additional 8,408 shares during the period. Virtu Financial LLC acquired a new stake in Martin Midstream Partners during the 1st quarter worth about $418,000. Finally, Geode Capital Management LLC grew its holdings in Martin Midstream Partners by 97.1% during the 4th quarter. Geode Capital Management LLC now owns 44,483 shares of the pipeline company’s stock worth $457,000 after acquiring an additional 21,909 shares during the period. 27.24% of the stock is owned by institutional investors.

About Martin Midstream Partners

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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