Zacks Investment Research Downgrades Green Plains Partners (NASDAQ:GPP) to Hold

Zacks Investment Research downgraded shares of Green Plains Partners (NASDAQ:GPP) from a buy rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

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. “

Several other research analysts also recently issued reports on GPP. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a report on Monday, May 13th. BidaskClub downgraded shares of Xperi from a sell rating to a strong sell rating in a report on Wednesday, June 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $17.20.

Shares of GPP opened at $14.38 on Wednesday. Green Plains Partners has a one year low of $13.30 and a one year high of $16.80. The firm has a market capitalization of $323.92 million, a P/E ratio of 8.24 and a beta of 0.50. The company’s 50 day moving average price is $13.94.

Green Plains Partners (NASDAQ:GPP) last announced its quarterly earnings results on Wednesday, May 8th. The transportation company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.14. The company had revenue of $21.09 million during the quarter, compared to the consensus estimate of $22.33 million. Green Plains Partners had a net margin of 54.78% and a negative return on equity of 71.28%. As a group, research analysts predict that Green Plains Partners will post 1.47 earnings per share for the current year.

Large investors have recently made changes to their positions in the company. Citigroup Inc. increased its holdings in shares of Green Plains Partners by 323.3% during the fourth quarter. Citigroup Inc. now owns 5,503 shares of the transportation company’s stock worth $75,000 after buying an additional 4,203 shares in the last quarter. Barclays PLC acquired a new position in shares of Green Plains Partners during the fourth quarter worth $118,000. GSA Capital Partners LLP increased its holdings in shares of Green Plains Partners by 13.1% during the fourth quarter. GSA Capital Partners LLP now owns 11,887 shares of the transportation company’s stock worth $161,000 after buying an additional 1,377 shares in the last quarter. Nwam LLC increased its holdings in shares of Green Plains Partners by 9.4% during the first quarter. Nwam LLC now owns 25,280 shares of the transportation company’s stock worth $400,000 after buying an additional 2,180 shares in the last quarter. Finally, Sigma Planning Corp increased its holdings in shares of Green Plains Partners by 12.0% during the first quarter. Sigma Planning Corp now owns 41,675 shares of the transportation company’s stock worth $660,000 after buying an additional 4,454 shares in the last quarter. Institutional investors own 15.89% 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 32 ethanol storage facilities and approximately 49 acres of land.

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