Citi Remains a Hold on PBF Energy (PBF)

Citi analyst Vikram Bagri maintained a Hold rating on PBF Energy today and set a price target of $29.00. The company’s shares closed yesterday at $28.35.

Elevate Your Investing Strategy:

• Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

According to TipRanks, Bagri is an analyst with an average return of -25.0% and a 33.08% success rate. Bagri covers the Technology sector, focusing on stocks such as Canadian Solar, Enphase Energy, and First Solar.

PBF Energy has an analyst consensus of Moderate Sell, with a price target consensus of $26.32, implying a -7.16% downside from current levels. In a report released on October 13, J.P. Morgan also maintained a Hold rating on the stock with a $22.00 price target.

Based on PBF Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $7.48 billion and a GAAP net loss of $5.2 million. In comparison, last year the company earned a revenue of $8.74 billion and had a GAAP net loss of $65.2 million

Based on the recent corporate insider activity of 101 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PBF in relation to earlier this year. Last month, Thomas Connor, the SVP of PBF sold 60,000.00 shares for a total of $2,040,000.00.