Sprague Resources LP (NYSE:SRLP) was upgraded by TheStreet from a “sell” rating to a “hold” rating in a report released on Wednesday.
A number of other equities analysts also recently issued reports on SRLP. Zacks Investment Research raised Sprague Resources from a “sell” rating to a “hold” rating in a report on Tuesday, June 14th. FBR & Co assumed coverage on Sprague Resources in a report on Friday, September 9th. They issued an “outperform” rating and a $35.00 price target for the company. Finally, Janney Montgomery Scott reaffirmed a “buy” rating and issued a $30.00 price target on shares of Sprague Resources in a report on Saturday, July 2nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $29.20.
Sprague Resources (NYSE:SRLP) traded down 0.4199% during trading on Wednesday, hitting $23.6901. 7,041 shares of the stock traded hands. Sprague Resources has a 12 month low of $15.55 and a 12 month high of $26.00. The stock has a market cap of $504.67 million, a P/E ratio of 9.0179 and a beta of 1.55. The firm’s 50-day moving average is $24.15 and its 200-day moving average is $23.16.
Sprague Resources (NYSE:SRLP) last announced its quarterly earnings results on Friday, August 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.22) by $0.26. The business earned $477.50 million during the quarter, compared to analyst estimates of $711 million. Sprague Resources had a net margin of 2.35% and a return on equity of 36.19%. On average, 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 that occurred on Thursday, September 8th. The stock was sold at an average price of $24.43, for a total value of $30,537.50. Following the completion of the sale, the insider now directly owns 20,155 shares of the company’s stock, valued at $492,386.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Several large investors have recently bought and sold shares of the stock. Cribstone Capital Management LLC purchased a new stake in Sprague Resources during the second quarter valued at $124,000. Acrospire Investment Management LLC boosted its stake in Sprague Resources by 35.2% in the second quarter. Acrospire Investment Management LLC now owns 6,210 shares of the company’s stock valued at $150,000 after buying an additional 1,618 shares during the period. Emerald Acquisition Ltd. bought a new stake in Sprague Resources during the second quarter valued at approximately $263,000. Raymond James & Associates boosted its stake in Sprague Resources by 2.0% in the second quarter. Raymond James & Associates now owns 25,664 shares of the company’s stock valued at $619,000 after buying an additional 510 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Sprague Resources during the second quarter valued at approximately $717,000. 53.57% of the stock is owned by institutional investors and hedge funds.
About Sprague Resources
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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