Freedom Broker Initiates Coverage on CVR Partners (NYSE:UAN)

Key Points

• Freedom Broker initiated coverage of CVR Partners with a “hold” rating and a $124 price target, implying approximately 0.06% downside from the stock’s current price.
• Analyst sentiment is generally positive: Weiss Ratings reaffirmed a “buy (b)” rating, while the consensus rating is “Moderate Buy” with a $124 price target.
• CVR Partners’ shares recently traded at $124.08, while the company reported $7.33 in quarterly earnings per share, $202.19 million in revenue, and a 23.67% net margin. Institutional investors own 43.83% of the stock.

Analysts at Freedom Broker assumed coverage on shares of CVR Partners (NYSE:UAN - Get Free Report) in a report issued on Tuesday, Benzinga reports. The firm set a "hold" rating and a $124.00 price target on the basic materials company's stock. Freedom Broker's price target would indicate a potential downside of 0.06% from the stock's current price.

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of CVR Partners in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $124.00.

CVR Partners Stock Down 0.2%

Shares of UAN traded down $0.23 during trading hours on Tuesday, hitting $124.08. The company had a trading volume of 14,356 shares, compared to its average volume of 54,671. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 8.18 and a beta of 0.26. The firm has a fifty day moving average price of $127.73 and a 200-day moving average price of $121.22. CVR Partners has a 52-week low of $91.44 and a 52-week high of $139.50. The company has a debt-to-equity ratio of 1.64, a quick ratio of 2.11 and a current ratio of 3.01.

CVR Partners (NYSE:UAN - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $7.33 earnings per share for the quarter. The business had revenue of $202.19 million during the quarter. CVR Partners had a net margin of 23.67% and a return on equity of 51.56%.

Hedge Funds Weigh In On CVR Partners

Several institutional investors have recently bought and sold shares of UAN. Oxbow Advisors LLC lifted its holdings in shares of CVR Partners by 5.7% in the 1st quarter. Oxbow Advisors LLC now owns 69,768 shares of the basic materials company's stock worth $8,838,000 after acquiring an additional 3,738 shares during the last quarter. De Lisle Partners LLP bought a new position in CVR Partners in the second quarter worth about $6,058,000. Royal Bank of Canada grew its position in CVR Partners by 30.6% during the 1st quarter. Royal Bank of Canada now owns 11,054 shares of the basic materials company's stock worth $1,400,000 after purchasing an additional 2,591 shares during the last quarter. Apollon Wealth Management LLC lifted its position in CVR Partners by 2.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 7,873 shares of the basic materials company's stock worth $974,000 after acquiring an additional 158 shares during the period. Finally, Bank of America Corp DE lifted its stake in CVR Partners by 219.8% during the 1st quarter. Bank of America Corp DE now owns 7,209 shares of the basic materials company's stock valued at $913,000 after acquiring an additional 4,955 shares during the period. Institutional investors own 43.83% of the company's stock.

About CVR Partners

CVR Partners, LP NYSE: UAN is a nitrogen fertilizer producer organized as a master limited partnership and managed by CVR GP, LLC. The company manufactures and sells nitrogen-based fertilizers used primarily in agricultural applications.

Its principal products are ammonia and urea ammonium nitrate (UAN) solution. Ammonia is sold directly to agricultural customers and other users, while UAN is a liquid fertilizer commonly applied to crops. CVR Partners markets its products to distributors, retailers, and agricultural customers.

CVR Partners operates production facilities in Coffeyville, Kansas, and East Dubuque, Illinois.

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