Green Plains Partners (GPP) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Green Plains Partners (NASDAQ:GPP) from a sell rating to a hold rating in a report issued on Monday morning.

According to Zacks, “Green Plains Partners LP provide ethanol and fuel storage, terminal and transportation services by owning, operating, developing and acquiring storage tanks, terminals, transportation assets and other related assets and businesses. Green Plains Partners LP is based in Omaha, Nebraska. “

A number of other research analysts also recently issued reports on the company. Stifel Nicolaus lowered their price target on Green Plains Partners from $18.00 to $16.00 and set a buy rating on the stock in a report on Thursday, October 11th. BidaskClub raised Green Plains Partners from a strong sell rating to a sell rating in a report on Thursday, October 11th. Robert W. Baird reaffirmed a buy rating and set a $18.00 price target (down from $20.00) on shares of Green Plains Partners in a report on Friday, September 14th. ValuEngine downgraded Green Plains Partners from a sell rating to a strong sell rating in a report on Friday, August 3rd. Finally, Stephens set a $21.00 price target on Green Plains Partners and gave the company a buy rating in a report on Wednesday, July 25th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $18.20.

Shares of NASDAQ:GPP opened at $15.25 on Monday. The firm has a market cap of $474.25 million, a PE ratio of 8.43, a price-to-earnings-growth ratio of 0.56 and a beta of 0.57. The company has a debt-to-equity ratio of -2.06, a quick ratio of 1.23 and a current ratio of 1.23. Green Plains Partners has a 1 year low of $14.40 and a 1 year high of $20.25.

Green Plains Partners (NASDAQ:GPP) last announced its quarterly earnings results on Wednesday, August 1st. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The business had revenue of $25.84 million for the quarter, compared to the consensus estimate of $27.16 million. Green Plains Partners had a net margin of 54.40% and a negative return on equity of 89.66%. On average, research analysts predict that Green Plains Partners will post 1.76 earnings per share for the current fiscal year.

In other news, Director Martin Salinas acquired 6,000 shares of Green Plains Partners stock in a transaction that occurred on Friday, August 3rd. The stock was bought at an average price of $16.37 per share, for a total transaction of $98,220.00. Following the completion of the transaction, the director now owns 10,590 shares in the company, valued at $173,358.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

A number of institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its position in Green Plains Partners by 673.7% during the second quarter. Bank of America Corp DE now owns 63,904 shares of the transportation company’s stock valued at $1,096,000 after acquiring an additional 55,645 shares during the last quarter. Raymond James & Associates increased its position in Green Plains Partners by 11.4% in the second quarter. Raymond James & Associates now owns 40,143 shares of the transportation company’s stock worth $688,000 after buying an additional 4,123 shares in the last quarter. Western Standard LLC purchased a new stake in Green Plains Partners in the second quarter worth about $366,000. GSA Capital Partners LLP purchased a new stake in Green Plains Partners in the second quarter worth about $206,000. Finally, Luzich Partners LLC purchased a new stake in Green Plains Partners in the second quarter worth about $2,130,000. Institutional investors own 16.55% of the company’s stock.

About Green Plains Partners

Green Plains Partners LP provides fuel storage and transportation services. It acquires, owns, develops, and operates ethanol and fuel storage tanks, terminals, transportation assets, and other related assets and businesses. The company owns or leases 39 ethanol storage facilities and approximately 61 acres of land.

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