PBF Logistics (NYSE:PBFX) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of PBF Logistics (NYSE:PBFX) from a hold rating to a strong-buy rating in a report issued on Friday, Zacks.com reports. They currently have $25.00 price target on the pipeline company’s stock.

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. “

Shares of NYSE:PBFX opened at $21.62 on Friday. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $1.34 billion, a P/E ratio of 11.88, a PEG ratio of 3.38 and a beta of 0.79. The firm has a 50 day moving average of $20.69. PBF Logistics has a 12-month low of $19.17 and a 12-month high of $23.69.

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

Hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in shares of PBF Logistics by 227.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,666 shares of the pipeline company’s stock worth $94,000 after buying an additional 3,240 shares during the period. Citigroup Inc. increased its position in shares of PBF Logistics by 207.0% during the fourth quarter. Citigroup Inc. now owns 12,188 shares of the pipeline company’s stock worth $245,000 after purchasing an additional 8,218 shares in the last quarter. Advisory Services Network LLC increased its position in shares of PBF Logistics by 20.5% during the fourth quarter. Advisory Services Network LLC now owns 19,281 shares of the pipeline company’s stock worth $388,000 after purchasing an additional 3,285 shares in the last quarter. Arrow Investment Advisors LLC increased its position in shares of PBF Logistics by 10.7% during the first quarter. Arrow Investment Advisors LLC now owns 24,536 shares of the pipeline company’s stock worth $516,000 after purchasing an additional 2,370 shares in the last quarter. Finally, Avalon Advisors LLC increased its position in shares of PBF Logistics by 3.3% during the first quarter. Avalon Advisors LLC now owns 52,378 shares of the pipeline company’s stock worth $1,101,000 after purchasing an additional 1,680 shares in the last quarter. 23.95% of the stock is owned by institutional investors and hedge funds.

About PBF Logistics

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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