Sprague Resources LP (NYSE:SRLP) has earned an average rating of “Hold” from the seven brokerages that are currently covering the stock. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $29.50.
SRLP has been the topic of a number of recent research reports. Janney Montgomery Scott reaffirmed a “buy” rating and set a $30.00 price target on shares of Sprague Resources in a research report on Saturday, July 2nd. Zacks Investment Research raised shares of Sprague Resources from a “strong sell” rating to a “hold” rating in a research report on Saturday, July 9th. FBR & Co initiated coverage on shares of Sprague Resources in a research report on Friday, September 9th. They set an “outperform” rating and a $35.00 price target on the stock. Finally, TheStreet raised shares of Sprague Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, September 28th.
In other Sprague Resources news, insider Paul A. Scoff sold 1,250 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $24.43, for a total value of $30,537.50. Following the transaction, the insider now directly owns 20,155 shares of the company’s stock, valued at approximately $492,386.65. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Several large investors have recently bought and sold shares of SRLP. Cribstone Capital Management LLC bought a new stake in Sprague Resources during the second quarter worth $124,000. Acrospire Investment Management LLC increased 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 worth $150,000 after buying an additional 1,618 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in Sprague Resources during the second quarter worth $263,000. Raymond James & Associates increased 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 worth $619,000 after buying an additional 510 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Sprague Resources during the second quarter worth $717,000. Institutional investors own 53.57% of the company’s stock.
Shares of Sprague Resources (NYSE:SRLP) opened at 24.43 on Friday. The company’s 50 day moving average is $24.05 and its 200-day moving average is $23.47. Sprague Resources has a 1-year low of $15.55 and a 1-year high of $26.00. The company has a market capitalization of $520.43 million, a P/E ratio of 9.30 and a beta of 1.56.
Sprague Resources (NYSE:SRLP) last released its quarterly earnings results on Friday, August 5th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by $0.26. Sprague Resources had a return on equity of 36.19% and a net margin of 2.35%. The business had revenue of $477.50 million for the quarter, compared to the consensus estimate of $711 million. On average, equities research analysts forecast that Sprague Resources will post $2.23 EPS for the current year.
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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