Is PBF Logistics LP (PBFX) a Sell? The Stock Reaches 52 Week Low Today

March 22, 2018 - By wolcottdaily

Investors sentiment increased to 1 in 2017 Q3. Its up 0.20, from 0.8 in 2017Q2. It improved, as 10 investors sold PBF Logistics LP shares while 11 reduced holdings. 11 funds opened positions while 10 raised stakes. 14.68 million shares or 13.16% less from 16.90 million shares in 2017Q2 were reported.
Avalon Advsrs Limited Co reported 38,548 shares. Tower Rech Limited Com (Trc) invested in 8,475 shares. Art Advisors Ltd Com reported 14,873 shares stake. Sumitomo Mitsui Trust Incorporated, Japan-based fund reported 20,000 shares. Metropolitan Life has 0.02% invested in PBF Logistics LP (NYSE:PBFX). Glob X Ltd Liability, a New York-based fund reported 394,687 shares. Moreover, Commonwealth Of Pennsylvania Pub School Empls Retrmt has 0.04% invested in PBF Logistics LP (NYSE:PBFX). Manufacturers Life Ins Co The accumulated 0% or 1,634 shares. First Republic Mgmt Incorporated stated it has 9,805 shares. Gsa Prtn Ltd Liability Partnership has invested 0.06% in PBF Logistics LP (NYSE:PBFX). Advisory Research Inc reported 919,556 shares. Citigroup reported 24,090 shares. Morgan Stanley has 413,806 shares. Barclays Public Limited Com, a United Kingdom-based fund reported 45,468 shares. Wells Fargo & Mn holds 85,529 shares.

The stock of PBF Logistics LP (NYSE:PBFX) hit a new 52-week low and has $18.14 target or 3.00 % below today’s $18.70 share price. The 5 months bearish chart indicates high risk for the $783.54M company. The 1-year low was reported on Mar, 22 by If the $18.14 price target is reached, the company will be worth $23.51M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 1.84% or $0.35 during the last trading session, reaching $18.7. About 62,971 shares traded. PBF Logistics LP (NYSE:PBFX) has declined 6.31% since March 22, 2017 and is downtrending. It has underperformed by 23.01% the S&P500.

Analysts await PBF Logistics LP (NYSE:PBFX) to report earnings on May, 3. They expect $0.52 EPS, down 5.45 % or $0.03 from last year’s $0.55 per share. PBFX’s profit will be $21.79M for 8.99 P/E if the $0.52 EPS becomes a reality. After $0.50 actual EPS reported by PBF Logistics LP for the previous quarter, Wall Street now forecasts 4.00 % EPS growth.

PBF Logistics LP (NYSE:PBFX) Ratings Coverage

Among 4 analysts covering PBF Logistics (NYSE:PBFX), 2 have Buy rating, 0 Sell and 2 Hold. Therefore 50% are positive. PBF Logistics had 9 analyst reports since July 31, 2015 according to SRatingsIntel. Credit Suisse maintained it with “Outperform” rating and $34 target in Friday, July 31 report. Barclays Capital maintained the stock with “Equal Weight” rating in Friday, February 12 report. On Tuesday, October 13 the stock rating was downgraded by Credit Suisse to “Neutral”. The stock of PBF Logistics LP (NYSE:PBFX) earned “Equal Weight” rating by Barclays Capital on Monday, January 11. The firm has “Outperform” rating given on Thursday, April 21 by Raymond James. The firm has “Buy” rating given on Tuesday, October 17 by UBS. The firm has “Neutral” rating given on Monday, October 26 by Credit Suisse.

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. The company has market cap of $783.54 million. It operates through Transportation and Terminaling, and Storage divisions. It has a 8.63 P/E ratio. The company's assets include Delaware City rail unloading terminal, a light crude oil rail unloading terminal, which serves Delaware City and Paulsboro refineries; Toledo truck unloading Terminal, that serves Toledo refinery; Delaware City west heavy unloading rack, a heavy crude oil unloading facility, which serves Delaware City refinery; and a terminaling facility that consists of 27 propane storage bullets and a truck loading facility.

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