Could USD Partners LP (USDP) Recover After Forming a Wedge Up Chart Pattern?

March 19, 2018 - By Adrian Erickson

The stock of USD Partners LP (USDP) formed an up wedge with $11.28 target or 3.00 % above today’s $10.95 share price. The 8 months wedge indicates low risk for the $291.26M company. If the $11.28 price target is reached, the company will be worth $8.74M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.46% or $0.0501 during the last trading session, reaching $10.9499. About 18,988 shares traded. USD Partners LP (NYSE:USDP) has risen 27.53% since March 19, 2017 and is uptrending. It has outperformed by 10.83% the S&P500.

Analysts await USD Partners LP (NYSE:USDP) to report earnings on May, 3. They expect $0.29 earnings per share, up 31.82 % or $0.07 from last year’s $0.22 per share. USDP’s profit will be $7.71 million for 9.44 P/E if the $0.29 EPS becomes a reality. After $0.14 actual earnings per share reported by USD Partners LP for the previous quarter, Wall Street now forecasts 107.14 % EPS growth.

USD Partners LP (NYSE:USDP) Ratings Coverage

Among 4 analysts covering USD Partners LP (NYSE:USDP), 0 have Buy rating, 0 Sell and 4 Hold. Therefore 0 are positive. USD Partners LP has $18 highest and $10.50 lowest target. $12.63’s average target is 15.34% above currents $10.9499 stock price. USD Partners LP had 13 analyst reports since July 21, 2015 according to SRatingsIntel. As per Thursday, May 26, the company rating was downgraded by Citigroup. The firm earned “Buy” rating on Friday, May 5 by FBR Capital. Janney Capital downgraded USD Partners LP (NYSE:USDP) on Tuesday, October 18 to “Neutral” rating. On Friday, September 9 the stock rating was initiated by FBR Capital with “Outperform”. The company was downgraded on Friday, February 3 by Bank of America. The firm has “Outperform” rating given on Monday, November 7 by FBR Capital. The rating was maintained by Citigroup with “Buy” on Tuesday, March 29. The firm has “Neutral” rating given on Monday, February 5 by Bank of America. The stock has “Equal Weight” rating by Barclays Capital on Tuesday, July 21. B. Riley & Co maintained it with “Neutral” rating and $11 target in Tuesday, December 19 report.

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