CVR Partners, LP (NYSE:UAN) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Earnings estimates for CVR Partners for the second quarter have been stable of late. CVR Partners remains committed to ramp up its UAN production capacity. The company should also benefit from the Rentech Nitrogen acquisition and healthy demand for nitrogen fertilizers in 2017. However, CVR Partners has underperformed the Zacks categorized Fertilizers industry over the last six months. The company remains exposed to headwinds from weak nitrogen fertilizer prices. 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 a number of other research reports. TheStreet lowered CVR Partners, from a “c-” rating to a “d+” rating in a report on Thursday, May 25th. Goldman Sachs Group, Inc. (The) raised CVR Partners, from a “neutral” rating to a “buy” rating and set a $6.00 price objective on the stock in a report on Monday, March 20th. ValuEngine raised CVR Partners, from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Cowen and Company reaffirmed a “hold” rating and set a $5.00 price objective on shares of CVR Partners, in a report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. CVR Partners, has a consensus rating of “Hold” and a consensus price target of $5.50.
CVR Partners, (NYSE:UAN) opened at 3.83 on Tuesday. CVR Partners, has a 12 month low of $3.38 and a 12 month high of $8.19. The stock’s 50 day moving average price is $3.73 and its 200-day moving average price is $4.88. The stock’s market cap is $433.87 million.
CVR Partners, (NYSE:UAN) last announced its quarterly earnings data on Thursday, April 27th. The basic materials company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.07. CVR Partners, had a negative return on equity of 5.85% and a negative net margin of 14.98%. The business had revenue of $85.30 million for the quarter, compared to analyst estimates of $90.04 million. During the same period in the prior year, the company earned $0.25 EPS. The company’s revenue was up 16.7% on a year-over-year basis. Equities research analysts predict that CVR Partners, will post ($0.23) EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Wedbush Securities Inc. raised its position in shares of CVR Partners, by 141.7% in the first quarter. Wedbush Securities Inc. now owns 34,618 shares of the basic materials company’s stock worth $161,000 after buying an additional 20,296 shares in the last quarter. Walthausen & Co. LLC increased its stake in CVR Partners, by 330.9% in the first quarter. Walthausen & Co. LLC now owns 942,827 shares of the basic materials company’s stock worth $4,384,000 after buying an additional 724,017 shares during the last quarter. Global X Management Co. LLC increased its stake 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 worth $184,000 after buying an additional 3,825 shares during the last quarter. Private Advisor Group LLC increased its stake in CVR Partners, by 46.6% in the first quarter. Private Advisor Group LLC now owns 22,142 shares of the basic materials company’s stock worth $105,000 after buying an additional 7,042 shares during the last quarter. Finally, VIEX Capital Advisors LLC purchased a new stake in CVR Partners, during the first quarter worth approximately $2,259,000. 22.45% of the stock is currently owned by hedge funds and other 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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