Today, Alon USA Energy Inc. (ALJ) Lifted to “Outperform” at Credit Suisse Group AG

Today, Alon USA Energy Inc. (ALJ) Lifted to “Outperform” at Credit Suisse Group AG

Credit Suisse Group AG upgraded shares of Alon USA Energy Inc. (NYSE:ALJ) from a neutral rating to an outperform rating in a report published on Tuesday morning. They currently have $10.50 target price on the stock, up from their prior target price of $7.00.

ALJ has been the topic of several other research reports. Citigroup Inc. initiated coverage on shares of Alon USA Energy in a report on Wednesday, September 14th. They set a buy rating and a $10.50 target price on the stock. Zacks Investment Research lowered shares of Alon USA Energy from a hold rating to a sell rating in a report on Tuesday, October 4th. Barclays PLC reaffirmed an equal weight rating and set a $10.00 target price (up previously from $8.00) on shares of Alon USA Energy in a report on Monday, October 10th. Piper Jaffray Cos. increased their target price on shares of Alon USA Energy from $5.00 to $6.00 and gave the company an underweight rating in a report on Friday, September 16th. Finally, Wells Fargo & Co. reaffirmed a hold rating on shares of Alon USA Energy in a report on Sunday, July 10th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $9.63.

Shares of Alon USA Energy (NYSE:ALJ) opened at 8.45 on Tuesday. Alon USA Energy has a 1-year low of $5.86 and a 1-year high of $18.27. The firm has a 50-day moving average of $8.30 and a 200 day moving average of $8.11. The company’s market capitalization is $599.78 million.

Alon USA Energy (NYSE:ALJ) last released its earnings results on Thursday, July 28th. The company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.02. Alon USA Energy had a negative net margin of 1.75% and a negative return on equity of 2.29%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $883.85 million. During the same period in the prior year, the business posted $0.67 EPS. Alon USA Energy’s revenue for the quarter was down 22.5% on a year-over-year basis. On average, equities research analysts expect that Alon USA Energy will post ($1.08) earnings per share for the current year.

In related news, VP Michael Oster sold 18,500 shares of Alon USA Energy stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $7.33, for a total transaction of $135,605.00. Following the completion of the transaction, the vice president now directly owns 47,553 shares of the company’s stock, valued at approximately $348,563.49. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David Wiessman sold 105,000 shares of Alon USA Energy stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $7.33, for a total transaction of $769,650.00. Following the transaction, the insider now directly owns 2,580,541 shares of the company’s stock, valued at $18,915,365.53. The disclosure for this sale can be found here. 8.80% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of ALJ. Adams Asset Advisors LLC boosted its position in shares of Alon USA Energy by 14.7% in the third quarter. Adams Asset Advisors LLC now owns 117,481 shares of the company’s stock worth $946,000 after buying an additional 15,037 shares during the period. Fisher Asset Management LLC boosted its position in shares of Alon USA Energy by 28.7% in the third quarter. Fisher Asset Management LLC now owns 212,800 shares of the company’s stock worth $1,715,000 after buying an additional 47,400 shares during the period. Nomura Holdings Inc. boosted its position in shares of Alon USA Energy by 317.2% in the second quarter. Nomura Holdings Inc. now owns 106,109 shares of the company’s stock worth $687,000 after buying an additional 80,676 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Alon USA Energy by 8.3% in the second quarter. Public Employees Retirement System of Ohio now owns 35,582 shares of the company’s stock worth $231,000 after buying an additional 2,721 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in shares of Alon USA Energy by 67.2% in the second quarter. Point72 Asset Management L.P. now owns 1,876,200 shares of the company’s stock worth $12,158,000 after buying an additional 753,800 shares during the period. 50.47% of the stock is owned by institutional investors.

Alon USA Energy Company Profile

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