Credit Suisse Downgrades Alon USA Partners LP to Neutral with Price Target $13.00

Brokerage firm Credit Suisse Downgrades its rating on Alon USA Partners LP(NYSE:ALDW). In a research note issued to the investors, the brokerage major Lowers the price-target to $13.00 per share. The shares have been rated Neutral. Previously, the analysts had a Outperform rating on the shares. The rating by Credit Suisse was issued on Apr 11, 2016.

In a different note, On Feb 19, 2016, Credit Suisse said it Maintains its rating on Alon USA Partners LP. In the research note, the firm Lowers the price-target to $31.00 per share. The shares have been rated ‘Outperform’ by the firm.

Alon USA Partners LP (ALDW) shares turned negative on Fridays trading session with the shares closing down -0.16 points or -1.36% at a volume of 1,05,053. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $11.88. The peak price level was also seen at $11.88 while the days lowest was $11.4. Finally the shares closed at $11.58. The 52-week high of the shares is $26.674 while the 52-week low is $9.71. According to the latest information available, the market cap of the company is $724 M.

Alon USA Partners LP(ALDW) last announced its earnings results on Feb 24, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $437.87M. Analysts had an estimated revenue of $440.96M. Earnings per share were $0.12. Analysts had estimated an EPS of $0.24.

Several Insider Transactions has been reported to the SEC. On Mar 2, 2016, Shai Even (CFO) purchased 7,200 shares at $10.60 per share price.

Alon USA Partners LP (Alon) is engaged in the business of operating a crude oil refinery in Big Spring Texas with a crude oil throughput capacity of 73000 barrels per day (bpd). The Company refines crude oil into finished products which it markets primarily in West and Central Texas Oklahoma New Mexico and Arizona through its wholesale distribution network to both Alon Energy’s retail convenience stores and other third-party distributors. The Big Spring refinery has a crude oil throughput capacity of 73000 bpd and is located on 1306 acres in the Permian Basin in West Texas. Its Big Spring refinery produces ultra-low sulfur gasoline ultra-low sulfur diesel jet fuel petrochemicals petrochemical feedstocks asphalt and other petroleum products. This refinery typically converts approximately 90% of its feedstock into finished products such as gasoline diesel jet fuel and petrochemicals with the remaining 10% primarily converted to asphalt and liquefied petroleum gas.

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