Morgan Stanley Reaffirms Their Sell Rating on PBF Energy (PBF)

In a report released today, Joe Laetsch from Morgan Stanley maintained a Sell rating on PBF Energy, with a price target of $32.21.

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According to TipRanks, Laetsch is an analyst with an average return of -1.0% and a 56.34% success rate. Laetsch covers the Energy sector, focusing on stocks such as Schlumberger, Nabors Industries, and Helmerich & Payne.

PBF Energy has an analyst consensus of Hold, with a price target consensus of $33.25.

Based on PBF Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $7.65 billion and a net profit of $170.1 million. In comparison, last year the company earned a revenue of $8.38 billion and had a GAAP net loss of $285.9 million

Based on the recent corporate insider activity of 109 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. Earlier this month, Carso De-C Inmobiliaria, a Major Shareholder at PBF sold 49,000.00 shares for a total of $1,647,700.00.