Boston, MA 07\/09\/2013 (wallstreetpr) –\u00a0Western Refining, Inc. (NYSE:WNR), a crude oil refiner and marketer of refined products was downgraded once again. This downgrade to \u201cMarket perform\u201d from \u201cOutperform\u201d by Wells Fargo (NYSE:WFC) is the latest in a string of downgrades the stock experienced the last few weeks. The valuation range has been readjusted to between $26 and $30 from the earlier range of between $41 and $43. This new range gives an upside of about 11% from the Friday close of $26.81. It is currently trading at $27.25, up by 1.64% but still more than 30% off from its 52-week high of $39.42.<\/p>\n
The stock has also been downgraded by Ned Davis Research from a Buy to Neutral rating this week. Just a few days back, the analysts of UBS AG (NYSE:UBS) took the same action and lowered the stock\u2019s price target to $32 from $39 after lowering the rating to Neutral. Earlier on, analysts at Imperial Capital brought the price target down to $33 from $36 with an \u201cIn-line\u201d rating. Many of these downgrades came on the heel\u00a0 of the last release of the company\u2019s earnings, which disappointed the market. The $0.94 earnings per share reported by the company for the quarter was lower than the market consensus of $0.97. At $2.19 billion, the revenue was in line with the expectation of $2.15 billion. For the full fiscal year, the expectation for earnings per share is $4.15.<\/p>\n
Bullish investors are overlooking the weak operating cash flow in favor of good return on equity, decent growth in net income, impressive record of earnings per share growth on a year on year basis and largely solid financial position with reasonable levels of debt.<\/p>\n
The company has also been awarded a contract recently, worth $268.7 million, by the Department of Defense for providing aviation turbine fuel.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 07\/09\/2013 (wallstreetpr) –\u00a0Western Refining, Inc. (NYSE:WNR), a crude oil refiner and marketer of refined products was downgraded once again. This downgrade to \u201cMarket […]<\/p>\n","protected":false},"author":32,"featured_media":8416,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[1170,2183,2833,2182],"stock_ticker":[],"class_list":["post-8415","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-nyseubs","tag-nysewnr","tag-ubs-ag-nyseubs","tag-western-refining-inc-nysewnr","entry"],"acf":[],"yoast_head":"\n