Zacks Investment Research Downgrades PBF Logistics (NYSE:PBFX) to Hold

PBF Logistics (NYSE:PBFX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Saturday, Zacks.com reports.

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. “

PBF Logistics stock opened at $21.62 on Friday. The firm has a market cap of $1.34 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 3.38 and a beta of 0.79. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.96 and a current ratio of 0.96. The firm’s 50-day moving average is $20.69. PBF Logistics has a 52 week low of $19.17 and a 52 week high of $23.69.



PBF Logistics (NYSE:PBFX) last released its earnings results on Wednesday, May 1st. The pipeline company reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.04). The company had revenue of $78.85 million for the quarter, compared to analyst estimates of $79.08 million. PBF Logistics had a net margin of 25.11% and a return on equity of 45.77%. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 EPS. On average, equities research analysts anticipate that PBF Logistics will post 1.6 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in PBFX. PNC Financial Services Group Inc. boosted its holdings in PBF Logistics by 227.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,666 shares of the pipeline company’s stock valued at $94,000 after purchasing an additional 3,240 shares during the last quarter. Citigroup Inc. boosted its holdings in PBF Logistics by 207.0% in the fourth quarter. Citigroup Inc. now owns 12,188 shares of the pipeline company’s stock valued at $245,000 after purchasing an additional 8,218 shares during the last quarter. Advisory Services Network LLC boosted its holdings in PBF Logistics by 20.5% in the fourth quarter. Advisory Services Network LLC now owns 19,281 shares of the pipeline company’s stock valued at $388,000 after purchasing an additional 3,285 shares during the last quarter. Avalon Advisors LLC boosted its holdings in PBF Logistics by 3.3% in the first quarter. Avalon Advisors LLC now owns 52,378 shares of the pipeline company’s stock valued at $1,101,000 after purchasing an additional 1,680 shares during the last quarter. Finally, Arrow Investment Advisors LLC boosted its holdings in PBF Logistics by 10.7% in the first quarter. Arrow Investment Advisors LLC now owns 24,536 shares of the pipeline company’s stock valued at $516,000 after purchasing an additional 2,370 shares during the last quarter. 23.95% of the stock is currently owned by hedge funds and other institutional investors.

PBF Logistics Company Profile

PBF Logistics LP owns, leases, acquires, develops, and operates crude oil and refined petroleum products terminals, pipelines, storage facilities, and other logistics assets in the United States. It operates through two segments, Transportation and Terminaling; and Storage. The company's assets include Delaware City Refining Company LLC (DCR) rail terminal, a double loop track with ancillary pumping and unloading equipment; the Toledo Truck Terminal, a crude truck unloading terminal; the DCR West Rack, a heavy crude oil rail unloading facility at the Delaware city refinery; the Toledo storage facility, which includes a propane storage and loading facility; the DCR products pipeline, an interstate petroleum products pipeline; the DCR Truck Rack, a truck loading rack; the San Joaquin Valley pipeline system and Paulsboro natural gas pipeline; and Knoxville Terminals, which consists of two refined product terminals located in Knoxville, Tennessee.

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