Global Partners LP (NYSE:GLP) Receives $21.00 Consensus Target Price from Brokerages
Global Partners LP (NYSE:GLP) has been assigned a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the stock. One analyst has rated the stock with a sell rating and eight have issued a hold rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $21.00.
A number of research analysts have issued reports on GLP shares. Zacks Investment Research cut Global Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 19th. Barclays PLC lifted their price objective on Global Partners from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 16th.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Global X Management Co. LLC boosted its position in Global Partners by 3.1% in the second quarter. Global X Management Co. LLC now owns 8,338 shares of the company’s stock valued at $114,000 after buying an additional 254 shares in the last quarter. Youngs Advisory Group Inc. boosted its position in Global Partners by 11.4% in the second quarter. Youngs Advisory Group Inc. now owns 13,335 shares of the company’s stock valued at $183,000 after buying an additional 1,363 shares in the last quarter. Creative Planning boosted its position in Global Partners by 110.5% in the second quarter. Creative Planning now owns 15,000 shares of the company’s stock valued at $206,000 after buying an additional 7,875 shares in the last quarter. Texas Yale Capital Corp. acquired a new position in Global Partners during the second quarter valued at $235,000. Finally, Winslow Evans & Crocker Inc. boosted its position in Global Partners by 9.7% in the second quarter. Winslow Evans & Crocker Inc. now owns 20,528 shares of the company’s stock valued at $281,000 after buying an additional 1,822 shares in the last quarter.
Global Partners (NYSE:GLP) opened at 15.60 on Friday. Global Partners has a 1-year low of $12.28 and a 1-year high of $35.00. The company’s market cap is $522.90 million. The stock’s 50 day moving average price is $15.51 and its 200 day moving average price is $13.97.
Global Partners (NYSE:GLP) last released its earnings results on Monday, August 8th. The company reported ($0.22) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by $0.04. The firm earned $2.10 billion during the quarter, compared to the consensus estimate of $2.18 billion. The firm’s revenue for the quarter was down 19.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 EPS. On average, equities analysts anticipate that Global Partners will post ($0.55) earnings per share for the current fiscal year.
Global Partners Company Profile
Global Partners LP is a midstream logistics and marketing company. The Company is engaged in the purchasing, selling and logistics of transporting petroleum and related products, including domestic and Canadian crude oil, gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, natural gas and propane.
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