B.Riley FBR analyst Sarkis Sherbetchyan maintained a Buy rating on Trecora Resources (TREC) today and set a price target of $11.50. The company’s shares opened today at $9.10.
Sherbetchyan wrote:
“PT) reported 4Q results after market close on Wednesday, 3/6, and hosted its earnings call Thursday morning. Shares closed 6% lower (vs. -0.9% for the Russell 2000) as adjusted EBITDA missed estimates on a significantly lower GM %, driven by negative byproduct margins (-$0.19/gallon vs. $0.29/gallon in 3Q), and higher plant costs. For more information on TREC’s 4Q results, refer to our 3/6 flash note. TREC’s advanced reformer unit, which upgrades byproducts to higher-value aromatics, is operating reliably since restarting in January. As a result, byproduct margins should improve Q/Q. We also note an uptick in demand from TREC’s oil sands customer drove 9% Y/Y prime product volume growth.”
According to TipRanks.com, Sherbetchyan is ranked #2722 out of 5220 analysts.
Trecora Resources has an analyst consensus of Moderate Buy, with a price target consensus of $11.50.
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Trecora Resources’ market cap is currently $222.8M and has a P/E ratio of 13.65. The company has a Price to Book ratio of 1.18.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is negative on the stock.
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Trecora Resources engages in the manufacture and sale of petrochemical products and synthetic waxes; and provision of custom processing services. It operates through the Petrochemical and Specialty Wax segments.
