Zacks Investment Research upgraded shares of CVR Partners, LP (NYSE:UAN) from a sell rating to a hold rating in a research note issued to investors on Wednesday, October 25th.
According to Zacks, “CVR Partners has underperformed the industry it belongs to over the last three months. The company remains committed to ramp up its UAN production capacity. CVR Partners should also benefit from the Rentech Nitrogen acquisition and healthy demand for nitrogen fertilizers in second-half 2017. However, the company remains exposed to headwinds from weak nitrogen fertilizer prices, which will 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.”
UAN has been the topic of several other reports. ValuEngine raised CVR Partners, from a strong sell rating to a sell rating in a report on Friday, September 1st. BidaskClub lowered CVR Partners, from a sell rating to a strong sell rating in a report on Tuesday, August 1st. Finally, Cowen and Company reissued a hold rating on shares of CVR Partners, in a report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $5.50.
CVR Partners, (NYSE UAN) traded up $0.04 during trading on Wednesday, reaching $3.30. The company had a trading volume of 125,300 shares, compared to its average volume of 337,731. CVR Partners, has a 12-month low of $2.58 and a 12-month high of $6.95. The company has a current ratio of 2.02, a quick ratio of 1.22 and a debt-to-equity ratio of 1.08.
CVR Partners, (NYSE:UAN) last posted its earnings results on Wednesday, November 1st. The basic materials company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.18). The company had revenue of $69.40 million for the quarter, compared to analyst estimates of $82.51 million. CVR Partners, had a negative return on equity of 9.91% and a negative net margin of 17.75%. The firm’s revenue was down 11.6% on a year-over-year basis. During the same period last year, the business earned ($0.12) earnings per share. research analysts anticipate that CVR Partners, will post -0.32 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently modified their holdings of the business. Global X Management Co. LLC grew its holdings in CVR Partners, by 10.7% in the first quarter. Global X Management Co. LLC now owns 39,475 shares of the basic materials company’s stock valued at $184,000 after purchasing an additional 3,825 shares during the period. Leucadia National Corp acquired a new stake in shares of CVR Partners, in the second quarter worth approximately $349,000. Goldman Sachs Group Inc. boosted its stake in shares of CVR Partners, by 50.0% in the first quarter. Goldman Sachs Group Inc. now owns 409,608 shares of the basic materials company’s stock worth $1,905,000 after acquiring an additional 136,581 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of CVR Partners, by 349.3% in the first quarter. Bank of New York Mellon Corp now owns 164,001 shares of the basic materials company’s stock worth $763,000 after acquiring an additional 127,500 shares during the last quarter. Finally, Citigroup Inc. acquired a new stake in shares of CVR Partners, in the second quarter worth approximately $263,000. 22.38% of the stock is currently owned by institutional investors.
About CVR Partners,
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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