USD Partners LP (USDP) Lifted to “Buy” at BidaskClub

BidaskClub upgraded shares of USD Partners LP (NYSE:USDP) from a hold rating to a buy rating in a report released on Tuesday morning.

Other analysts have also issued reports about the company. TheStreet upgraded USD Partners from a c rating to a b- rating in a research note on Monday, October 9th. Zacks Investment Research lowered USD Partners from a strong-buy rating to a hold rating in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $15.50.

USD Partners (NYSE USDP) traded up 0.46% during midday trading on Tuesday, reaching $11.00. 5,783 shares of the company traded hands. The company has a market cap of $289.95 million, a price-to-earnings ratio of 9.76 and a beta of 1.01. USD Partners has a 12-month low of $9.00 and a 12-month high of $17.50. The company has a 50-day moving average price of $10.74 and a 200-day moving average price of $11.91.

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In other news, insider G Stacy Smith purchased 13,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were acquired at an average price of $10.83 per share, for a total transaction of $146,205.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dan Borgen purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was purchased at an average price of $9.83 per share, for a total transaction of $49,150.00. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 36,350 shares of company stock worth $377,464.

A number of institutional investors and hedge funds have recently modified their holdings of USDP. Goldman Sachs Group Inc. bought a new position in USD Partners during the second quarter worth about $20,960,000. HITE Hedge Asset Management LLC bought a new position in USD Partners during the second quarter worth about $2,382,000. Bank of America Corp DE boosted its holdings in USD Partners by 31.1% during the first quarter. Bank of America Corp DE now owns 554,948 shares of the transportation company’s stock worth $6,826,000 after buying an additional 131,521 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in USD Partners by 26.8% during the second quarter. Evergreen Capital Management LLC now owns 620,220 shares of the transportation company’s stock worth $6,946,000 after buying an additional 131,193 shares during the last quarter. Finally, EJF Capital LLC boosted its holdings in USD Partners by 66.7% during the first quarter. EJF Capital LLC now owns 50,000 shares of the transportation company’s stock worth $615,000 after buying an additional 20,000 shares during the last quarter. Hedge funds and other institutional investors own 30.29% of the company’s stock.

About USD Partners

USD Partners LP acquires, develops and operates energy-related logistics assets, including rail terminals and other midstream infrastructure. The Company’s segments include Terminalling services and Fleet services. The Terminalling services segment consists of various operations, including Hardisty terminal, Casper terminal and Ethanol terminals.

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