Zacks Investment Research Lowers CVR Partners (UAN) to Strong Sell

CVR Partners (NYSE:UAN) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday.

According to Zacks, “CVR Partners has underperformed the industry it belongs to over a year. The company remains exposed to headwinds from weak nitrogen fertilizer prices, which may continue to 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 upgraded shares of CVR Partners from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. Cowen restated a “hold” rating on shares of CVR Partners in a research report on Tuesday, September 26th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $5.50.

Shares of CVR Partners (UAN) opened at $3.20 on Wednesday. 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 has a 12-month low of $2.58 and a 12-month high of $6.95.

CVR Partners (NYSE:UAN) last posted its quarterly earnings results on Wednesday, November 1st. The basic materials company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.18). The company had revenue of $69.40 million during 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 business’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.12) earnings per share. equities analysts expect that CVR Partners will post -0.32 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu KCG Holdings LLC grew its position in CVR Partners by 47.0% in 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 last quarter. Citigroup Inc. bought a new position in shares of CVR Partners during the 2nd quarter worth about $263,000. Wells Fargo & Company MN lifted 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 acquiring an additional 11,581 shares during the period. Leucadia National Corp bought a new position in shares of CVR Partners during the 2nd quarter worth about $349,000. Finally, GSA Capital Partners LLP bought a new position in shares of CVR Partners during the 3rd quarter worth about $417,000. Institutional investors own 22.25% of the company’s stock.

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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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