Delek US Holdings Received its Third Buy in a Row

By Ryan Adsit

After Scotiabank and RBC Capital assigned a Buy rating to Delek US Holdings in the last month, the company received another Buy, this time from Morgan Stanley. Analyst Benny Wong maintained a Buy rating on Delek US Holdings (NYSE: DK) today and set a price target of $53. The company’s shares closed on Friday at $44.28, close to its 52-week high of $44.95.

Wong has an average return of 19.8% when recommending Delek US Holdings.

According to TipRanks.com, Wong is ranked #3964 out of 4771 analysts.

Currently, the analyst consensus on Delek US Holdings is Strong Buy and the average price target is $45.17, representing a 2.0% upside.

In a report issued on April 9, Scotiabank also reiterated a Buy rating on the stock with a $46 price target.

Based on Delek US Holdings’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $2.48 billion and quarterly net profit of $211 million. In comparison, last year the company earned revenue of $1.18 billion and had a net profit of $11.2 million.

Based on the recent corporate insider activity of 103 insiders, corporate insider sentiment is negative on the stock.

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Delek US Holdings, Inc. is a diversified downstream energy company, which focuses on petroleum refining, the transportation, storage and wholesale distribution of crude oil, intermediate and refined products and convenience store retailing. It operates through following segments: Refining, Logistics and Retail.