Zacks Investment Research upgraded shares of Suburban Propane Partners LP (NYSE:SPH) from a hold rating to a buy rating in a research report released on Thursday morning. Zacks Investment Research currently has $37.00 price objective on the stock.
According to Zacks, “Suburban Propane Partners, L.P., a publicly traded Delaware limited partnership is engaged, through subsidiaries, in the retail and wholesale marketing of propane and related appliances and services. The Partnership believes it is the third largest retail marketer of propane in the United States, Suburban Propane Partners serves active residential, commercial, industrial and agricultural customers from customer service centers in over 40 states. The Partnership’s operations are concentrated in the east and west coast regions of the United States. “
A number of other equities analysts have also commented on SPH. Argus reissued a hold rating on shares of Suburban Propane Partners in a research report on Monday, July 11th. Janney Montgomery Scott started coverage on shares of Suburban Propane Partners in a research report on Wednesday, July 20th. They issued a neutral rating and a $30.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $33.43.
Shares of Suburban Propane Partners (NYSE:SPH) opened at 32.16 on Thursday. The company has a 50 day moving average of $33.15 and a 200-day moving average of $32.67. Suburban Propane Partners has a 12-month low of $20.93 and a 12-month high of $37.10. The firm has a market cap of $1.95 billion, a PE ratio of 279.65 and a beta of 0.69.
Suburban Propane Partners (NYSE:SPH) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.49) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.14. The firm earned $205.10 million during the quarter, compared to the consensus estimate of $218.29 million. During the same period in the prior year, the business earned ($0.67) EPS. The company’s revenue for the quarter was down 6.9% compared to the same quarter last year. Equities research analysts forecast that Suburban Propane Partners will post $0.42 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the company. Financial Architects Inc increased its stake in Suburban Propane Partners by 7.9% in the second quarter. Financial Architects Inc now owns 3,395 shares of the company’s stock worth $113,000 after buying an additional 250 shares in the last quarter. Advisor Group Inc. acquired a new stake in Suburban Propane Partners during the second quarter worth $195,000. US Bancorp DE increased its stake in Suburban Propane Partners by 3.7% in the second quarter. US Bancorp DE now owns 6,272 shares of the company’s stock worth $210,000 after buying an additional 225 shares in the last quarter. Agran Libbie acquired a new stake in Suburban Propane Partners during the second quarter worth $214,000. Finally, Ausdal Financial Partners Inc. acquired a new stake in Suburban Propane Partners during the second quarter worth $217,000.
Suburban Propane Partners Company Profile
Suburban Propane Partners, L.P. (the Partnership) is a marketer and distributor of a range of products meeting the energy needs of the customers. The Company is specialized in the distribution of propane, fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets.
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