Sprague Resources LP (SRLP) Rating Increased to Hold at TheStreet
Other research analysts also recently issued research reports about the stock. Janney Montgomery Scott reiterated a buy rating and issued a $30.00 target price on shares of Sprague Resources in a research note on Saturday, July 2nd. Zacks Investment Research upgraded shares of Sprague Resources from a hold rating to a buy rating and set a $28.00 target price on the stock in a research note on Tuesday, August 2nd. Finally, FBR & Co started coverage on shares of Sprague Resources in a research note on Friday, September 9th. They issued an outperform rating and a $35.00 target price on the stock. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $29.20.
Sprague Resources (NYSE:SRLP) opened at 23.82 on Wednesday. The company has a market capitalization of $507.44 million, a P/E ratio of 9.07 and a beta of 1.56. The company has a 50-day moving average of $24.08 and a 200 day moving average of $23.28. Sprague Resources has a 12-month low of $15.55 and a 12-month high of $26.00.
Sprague Resources (NYSE:SRLP) last posted its quarterly earnings data on Friday, August 5th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate 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. Equities research analysts forecast that Sprague Resources will post $2.23 earnings per share for the current fiscal year.
In other news, insider Paul A. Scoff sold 1,250 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $24.43, for a total transaction of $30,537.50. Following the completion of the transaction, 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 can be accessed through the SEC website.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its position in Sprague Resources by 4.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,323,015 shares of the company’s stock valued at $27,056,000 after buying an additional 54,471 shares during the last quarter. Harvest Fund Advisors LLC boosted its position in Sprague Resources by 2.6% in the first quarter. Harvest Fund Advisors LLC now owns 438,258 shares of the company’s stock valued at $8,962,000 after buying an additional 11,189 shares during the last quarter. Cribstone Capital Management LLC bought a new position in Sprague Resources during the second quarter valued at $124,000. Acadian Asset Management LLC boosted its position in Sprague Resources by 33.9% in the second quarter. Acadian Asset Management LLC now owns 192,836 shares of the company’s stock valued at $4,649,000 after buying an additional 48,824 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Sprague Resources during the second quarter valued at $717,000. 53.57% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Sprague Resources LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprague Resources LP and related companies with MarketBeat.com's FREE daily email newsletter.