CVR Partners (UAN) Lowered to “Strong Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of CVR Partners (NYSE:UAN) from a hold rating to a strong sell rating in a research report sent to investors on Wednesday.

According to Zacks, “CVR Partners has underperformed the industry it belongs to over a year. The company remains exposed to headwinds from weak nitrogen fertilizer prices, which may continue to put pressure on its bottom line. Abundant nitrogen supply driven by new production capacity is expected weigh on global prices this year. The company also faces intense price competition.”

Several other equities research analysts have also recently weighed in on UAN. Cowen reiterated a hold rating on shares of CVR Partners in a research note on Tuesday, September 26th. ValuEngine upgraded shares of CVR Partners from a strong sell rating to a sell rating in a research note on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. CVR Partners has an average rating of Hold and a consensus target price of $5.50.

CVR Partners (NYSE UAN) traded down $0.17 during midday trading on Wednesday, hitting $3.03. 375,700 shares of the company traded hands, compared to its average volume of 326,721. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.02 and a quick ratio of 1.22. CVR Partners has a twelve month low of $2.58 and a twelve month high of $6.95.

CVR Partners (NYSE:UAN) last released its earnings results on Wednesday, November 1st. The basic materials company reported ($0.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.18). CVR Partners had a negative net margin of 17.75% and a negative return on equity of 9.91%. The company had revenue of $69.40 million during the quarter, compared to the consensus estimate of $82.51 million. During the same quarter in the previous year, the business posted ($0.12) EPS. The firm’s quarterly revenue was down 11.6% on a year-over-year basis. sell-side analysts anticipate that CVR Partners will post -0.55 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in UAN. Goldman Sachs Group Inc. lifted its stake in CVR Partners by 698.5% during the second quarter. Goldman Sachs Group Inc. now owns 3,270,562 shares of the basic materials company’s stock worth $11,414,000 after purchasing an additional 2,860,954 shares during the period. HITE Hedge Asset Management LLC bought a new position in CVR Partners during the second quarter worth about $1,634,000. JPMorgan Chase & Co. lifted its stake in CVR Partners by 2,522.0% during the third quarter. JPMorgan Chase & Co. now owns 212,197 shares of the basic materials company’s stock worth $703,000 after purchasing an additional 204,104 shares during the period. GSA Capital Partners LLP bought a new position in CVR Partners during the third quarter worth about $417,000. Finally, Leucadia National Corp bought a new position in CVR Partners during the second quarter worth about $349,000. Hedge funds and other institutional investors own 22.25% of the company’s stock.

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CVR Partners Company Profile

CVR Partners, LP is a limited partnership formed by CVR Energy, Inc (CVR Energy) to own, operate and grow its nitrogen fertilizer business. The Company produces and distributes nitrogen fertilizer products, which are used by farmers to manage the yield and quality of their crops. As of December 31, 2016, the Company produced its nitrogen fertilizer products at two manufacturing facilities, located in Coffeyville, Kansas and East Dubuque, Illinois.

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