.jpg "TransMontaigne (NYSE: TLP)")
Analysts have been eager to weigh in on the Materials sector with new ratings on TransMontaigne (NYSE: TLP), Tutor Perini Corp (NYSE: TPC) and Hallador Energy Company (NASDAQ: HNRG).
TransMontaigne (NYSE: TLP)
B.Riley FBR analyst Robert Balsamo assigned a Hold rating to TransMontaigne (NYSE: TLP) yesterday and set a price target of $45. The company’s shares opened today at $37.42.
Balsamo noted:
“Adjusted EBITDA and DCF below expectations. TLP (Neutral, $45 PT) reported adjusted EBITDA of $32.9M, 6% below B. Riley FBR estimates of $34.9M and consensus of $34.5M. Distributable cash flow of $23.0M was 8% below B. Riley FBR/consensus estimates of $25.0M. Distribution coverage remains strong at 1.39x, and its leverage was 4.35x (adjusted for its West Coast terminal acquisition).”
According to TipRanks.com, Balsamo is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -7.5% and a 48.2% success rate. Balsamo covers the Basic Materials sector, focusing on stocks such as NuStar GP Holdings, Sprague Resources, and Martin Midstream.
TransMontaigne has an analyst consensus of Moderate Buy, with a price target consensus of $43.50.
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Tutor Perini Corp (NYSE: TPC)
B.Riley FBR analyst Alex Rygiel maintained a Buy rating on Tutor Perini Corp (NYSE: TPC) today and set a price target of $28. The company’s shares opened today at $20.20, close to its 52-week low of $18.90.
Rygiel noted:
“On the close, Tutor Perini (TPC) announced 1Q18 results which were disappointing. While revenue was mostly in line with our expectations, the quarter was negatively impacted by a negative arbitration outcome for a bridge project that was completed in 2013, resulting in a loss per share of ($0.24), vs. our estimate of $0.25 EPS. Even when excluding this charge, EBITDA and EPS were below expectations. On a positive note, new awards were very strong, ending the quarter with a record-high backlog of $8.5B. TPC remains well positioned to benefit from improving investment into U.S. infrastructure in a market where competition seems to be waning. However, for the intermediate term, we are lowering our 2018 estimates and lowering our price target from $36 to $28 and we maintain our Buy rating.”
According to TipRanks.com, Rygiel is a 5-star analyst with an average return of 14.0% and a 67.7% success rate. Rygiel covers the Basic Materials sector, focusing on stocks such as Granite Construction Inc, Quanta Services, and MYR Group.
Tutor Perini Corp has an analyst consensus of Strong Buy, with a price target consensus of $33.25.
Hallador Energy Company (NASDAQ: HNRG)
B.Riley FBR analyst Lucas Pipes maintained a Buy rating on Hallador Energy Company (NASDAQ: HNRG) yesterday and set a price target of $10. The company’s shares opened today at $7.31.
Pipes observed:
“We are maintaining our Buy rating on Hallador Energy (HNRG) and our $10 price target following the company’s release of 1Q results on May 7. Hallador’s adjusted EBITDA of $15.8M (by our calculations) was above our estimate of $12.0M. Cost performance drove the majority of the beat, coming in at $27.32/t, substantially below $30.88/t in 4Q and our estimate of $29.83/t. Sales volumes also beat our expectations, with the company selling 1.71M tons, compared to our estimate of 1.55M tons (1.69M tons were sold in 4Q). Price realizations slipped due to the seasonal mix to $39.13/t, down 4.3% Q/Q, but should improve to average about $40/t for the year. The company paid down $11M of debt in 1Q18, which reduced the leverage ratio to 2.37x. Given the current demand outlook, Hallador raised FY18 sales guidance from 6.8Mt to 7.0Mt.”
According to TipRanks.com, Pipes is a 4-star analyst with an average return of 7.6% and a 64.1% success rate. Pipes covers the Basic Materials sector, focusing on stocks such as Peabody Energy Corporation Comm, Newmont Mining Corporation, and Cloud Peak Energy Inc.
Hallador Energy Company has an analyst consensus of Moderate Buy, with a price target consensus of $10.
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