PBF Logistics LP (NYSE:PBFX) Given a $24.00 Price Target by Credit Suisse Group Analysts

PBF Logistics LP (NYSE:PBFX) received a $24.00 price objective from stock analysts at Credit Suisse Group in a research note issued on Saturday, August 5th. The brokerage presently has a “hold” rating on the pipeline company’s stock. Credit Suisse Group’s price target suggests a potential upside of 15.11% from the company’s previous close.

Other analysts also recently issued reports about the company. ValuEngine upgraded PBF Logistics from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. TheStreet upgraded PBF Logistics from a “d” rating to a “c” rating in a research note on Tuesday, May 30th. Zacks Investment Research downgraded PBF Logistics from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Finally, BidaskClub upgraded PBF Logistics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. PBF Logistics currently has an average rating of “Hold” and an average target price of $24.00.

PBF Logistics (PBFX) traded down 1.18% on Friday, reaching $20.85. The company’s stock had a trading volume of 83,294 shares. The firm’s 50-day moving average price is $20.30 and its 200-day moving average price is $20.42. PBF Logistics has a 52-week low of $17.45 and a 52-week high of $22.70. The stock has a market cap of $873.45 million, a price-to-earnings ratio of 9.44 and a beta of 1.34.

PBF Logistics (NYSE:PBFX) last issued its earnings results on Thursday, August 3rd. The pipeline company reported $0.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.09. The firm had revenue of $62.30 million during the quarter, compared to analyst estimates of $58.69 million. PBF Logistics had a net margin of 39.25% and a return on equity of 62.40%. The business’s quarterly revenue was up 53.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. On average, equities analysts expect that PBF Logistics will post $2.32 earnings per share for the current year.

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A number of institutional investors have recently added to or reduced their stakes in PBFX. First Trust Advisors LP bought a new position in PBF Logistics during the second quarter worth about $7,985,000. Global X Management Co. LLC increased its position in PBF Logistics by 4,529.5% in the first quarter. Global X Management Co. LLC now owns 369,991 shares of the pipeline company’s stock worth $7,973,000 after buying an additional 361,999 shares during the period. UBS Group AG increased its position in PBF Logistics by 44.9% in the first quarter. UBS Group AG now owns 646,881 shares of the pipeline company’s stock worth $13,941,000 after buying an additional 200,484 shares during the period. OppenheimerFunds Inc. increased its position in PBF Logistics by 20.8% in the first quarter. OppenheimerFunds Inc. now owns 895,593 shares of the pipeline company’s stock worth $19,300,000 after buying an additional 154,308 shares during the period. Finally, Marshall Wace North America L.P. bought a new position in PBF Logistics during the second quarter worth about $1,065,000. Institutional investors and hedge funds own 70.97% of the company’s stock.

About PBF Logistics

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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