Sprague Resources LP (NYSE:SRLP) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Separately, Zacks Investment Research cut Sprague Resources from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $31.67.

Sprague Resources (NYSE SRLP) traded down 0.61% during midday trading on Friday, hitting $24.30. The company had a trading volume of 28,703 shares. Sprague Resources has a 1-year low of $22.50 and a 1-year high of $30.75. The firm has a market capitalization of $547.79 million, a P/E ratio of 12.11 and a beta of 1.40. The company has a 50 day moving average price of $26.12 and a 200 day moving average price of $26.82.

Sprague Resources (NYSE:SRLP) last posted its quarterly earnings data on Wednesday, August 9th. The oil and gas company reported ($0.39) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.40). Sprague Resources had a return on equity of 29.64% and a net margin of 1.77%. The firm had revenue of $513.63 million during the quarter, compared to analyst estimates of $529.66 million. Equities research analysts forecast that Sprague Resources will post $4.00 earnings per share for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of SRLP. Creative Planning boosted its holdings in Sprague Resources by 81.8% in the 2nd quarter. Creative Planning now owns 4,570 shares of the oil and gas company’s stock worth $129,000 after buying an additional 2,056 shares during the last quarter. Virtu KCG Holdings LLC purchased a new position in Sprague Resources in the 2nd quarter worth approximately $255,000. Susquehanna International Group LLP purchased a new position in Sprague Resources in the 2nd quarter worth approximately $265,000. Fort Washington Investment Advisors Inc. OH lifted its stake in Sprague Resources by 12.8% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 10,194 shares of the oil and gas company’s stock worth $287,000 after purchasing an additional 1,158 shares in the last quarter. Finally, Beaton Management Co. Inc. purchased a new position in Sprague Resources in the 2nd quarter worth approximately $314,000. Institutional investors own 24.63% of the company’s stock.

About Sprague Resources

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