Roth Capital Reiterates a Buy Rating on Green Plains Partners

By Austin Angelo

In a report released today, Craig Irwin from Roth Capital reiterated a Buy rating on Green Plains Partners (NASDAQ: GPP), with a price target of $22. The company’s shares opened today at $21.50, close to its 52-week high of $21.75.

Irwin said:

“We expect Green Plains Partners to post in-line 3Q16 results, where any upside would need to come from throughput volumes rising faster than guidance and our forecast. Now the market discounts tangible evidence GPP has a strong basis for partnership and distribution growth.”

According to TipRanks.com, Irwin is ranked 0 out of 5 stars with an average return of -6.0% and a 32.9% success rate. Irwin covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp., Ballard Power Systems, and Amer. Superconductor.

Green Plains Partners has an analyst consensus of Strong Buy, with a price target consensus of $21.50.

Based on Green Plains Partners’ latest earnings report from June 30, the company posted quarterly revenue of $25.49M and quarterly net profit of $13.98M. In comparison, last year the company earned revenue of $21.41M and had a net profit of $5.33M.

Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GPP in relation to earlier this year. Most recently, in May 2016, Michelle Mapes, the EVP – Gen. Counsel & Corp Sec. of GPP bought 2,000 shares for a total of $27,200.

Green Plains Partners LP provides ethanol and fuel storage, terminal and transportation services by owning, operating, developing and acquiring ethanol and fuel storage tanks, terminals, transportation assets and other related assets and businesses. The company was founded in March 2015 and is headquartered in Omaha, NE.