Brokerages Set CVR Partners LP (UAN) PT at $6.00

CVR Partners LP (NYSE:UAN) has earned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $6.00.

UAN has been the subject of a number of recent research reports. Zacks Investment Research downgraded CVR Partners from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 6th. Cowen reaffirmed a “hold” rating on shares of CVR Partners in a research note on Tuesday, September 26th.

Shares of CVR Partners (UAN) traded down $0.03 on Tuesday, hitting $3.81. The company’s stock had a trading volume of 274,550 shares, compared to its average volume of 851,509. CVR Partners has a twelve month low of $2.58 and a twelve month high of $6.95. The firm has a market cap of $431.61, a P/E ratio of -7.19 and a beta of 1.46. The company has a quick ratio of 1.22, a current ratio of 2.02 and a debt-to-equity ratio of 1.08.

CVR Partners (NYSE:UAN) last issued its earnings results on Wednesday, November 1st. The basic materials company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.18). CVR Partners had a negative return on equity of 9.91% and a negative net margin of 17.75%. The company had revenue of $69.40 million during the quarter, compared to analyst estimates of $82.51 million. During the same period last year, the business earned ($0.12) earnings per share. The firm’s revenue was down 11.6% compared to the same quarter last year. equities analysts expect that CVR Partners will post -0.55 EPS for the current year.

In other news, major shareholder Gso Capital Partners Lp sold 1,900,000 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $3.00, for a total transaction of $5,700,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of CVR Partners by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 166,822 shares of the basic materials company’s stock worth $582,000 after purchasing an additional 2,821 shares during the period. Wells Fargo & Company MN grew its holdings in shares of CVR Partners by 13.5% during the 2nd quarter. Wells Fargo & Company MN now owns 97,099 shares of the basic materials company’s stock worth $339,000 after purchasing an additional 11,581 shares during the period. Virtu KCG Holdings LLC grew its holdings in shares of CVR Partners by 47.0% during the 2nd quarter. Virtu KCG Holdings LLC now owns 47,458 shares of the basic materials company’s stock worth $166,000 after purchasing an additional 15,174 shares during the period. Blackstone Group L.P. grew its holdings in shares of CVR Partners by 0.9% during the 3rd quarter. Blackstone Group L.P. now owns 5,924,085 shares of the basic materials company’s stock worth $19,135,000 after purchasing an additional 50,000 shares during the period. Finally, HITE Hedge Asset Management LLC grew its holdings in shares of CVR Partners by 10.9% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 519,235 shares of the basic materials company’s stock worth $1,677,000 after purchasing an additional 50,912 shares during the period. Institutional investors and hedge funds own 22.21% of the company’s stock.

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CVR Partners Company Profile

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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