Sprague Resources LP (SRLP) Given Consensus Rating of “Hold” by Brokerages
Sprague Resources LP (NYSE:SRLP) has earned an average rating of “Hold” from the seven analysts that are covering the company. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $29.50.
Several equities research analysts recently issued reports on the company. FBR & Co assumed coverage on Sprague Resources in a research note on Friday, September 9th. They issued an “outperform” rating and a $35.00 price objective for the company. TheStreet raised Sprague Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, September 28th. Zacks Investment Research lowered Sprague Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. Finally, Janney Montgomery Scott reaffirmed a “buy” rating and issued a $30.00 target price on shares of Sprague Resources in a research report on Saturday, July 2nd.
Sprague Resources (NYSE:SRLP) opened at 23.90 on Friday. Sprague Resources has a 12 month low of $15.55 and a 12 month high of $26.00. The firm has a market capitalization of $509.14 million, a price-to-earnings ratio of 9.10 and a beta of 1.56. The firm has a 50 day moving average price of $24.02 and a 200-day moving average price of $23.57.
Sprague Resources (NYSE:SRLP) last announced its quarterly earnings data on Friday, August 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by $0.26. The business earned $477.50 million during the quarter, compared to analysts’ expectations of $711 million. Sprague Resources had a return on equity of 36.19% and a net margin of 2.35%. On average, equities analysts forecast that Sprague Resources will post $2.23 EPS for the current year.
In other news, insider Paul A. Scoff sold 1,250 shares of the stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $24.43, for a total transaction of $30,537.50. Following the transaction, the insider now owns 20,155 shares of the company’s stock, valued at approximately $492,386.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Cribstone Capital Management LLC bought a new position in shares of Sprague Resources during the second quarter worth approximately $124,000. Acrospire Investment Management LLC raised its position in shares of Sprague Resources by 35.2% in the second quarter. Acrospire Investment Management LLC now owns 6,210 shares of the company’s stock worth $150,000 after buying an additional 1,618 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in shares of Sprague Resources during the second quarter worth approximately $263,000. Raymond James & Associates raised its position in shares of Sprague Resources by 2.0% in the second quarter. Raymond James & Associates now owns 25,664 shares of the company’s stock worth $619,000 after buying an additional 510 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Sprague Resources during the second quarter worth approximately $717,000. 53.57% of the stock is currently owned by institutional investors and hedge funds.
Sprague Resources Company Profile
Sprague Resources LP is engaged in the purchase, storage, distribution and sale of refined products and natural gas, and provides storage and handling services for a range of materials. The Company operates through four segments: refined products, natural gas, materials handling and other operations.
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