Shares of Sprague Resources LP (NYSE:SRLP) have been given an average rating of “Hold” by the seven brokerages that are presently covering the company. Four equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $29.50.
A number of equities research analysts have recently commented on the company. FBR & Co assumed coverage on Sprague Resources in a research report on Friday, September 9th. They set an “outperform” rating and a $35.00 price target on the stock. TheStreet raised Sprague Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, September 28th. Zacks Investment Research lowered Sprague Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. Finally, 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.
Shares of Sprague Resources (NYSE:SRLP) traded up 0.41% during midday trading on Friday, reaching $24.61. The company’s stock had a trading volume of 9,236 shares. The firm has a market cap of $524.27 million, a price-to-earnings ratio of 9.37 and a beta of 1.56. Sprague Resources has a 12 month low of $15.55 and a 12 month high of $26.00. The company has a 50-day moving average price of $24.03 and a 200-day moving average price of $23.44.
Sprague Resources (NYSE:SRLP) last released its earnings results on Friday, August 5th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.22) by $0.26. Sprague Resources had a net margin of 2.35% and a return on equity of 36.19%. The company earned $477.50 million during the quarter, compared to analyst estimates of $711 million. Equities analysts expect that Sprague Resources will post $2.23 earnings per share for the current year.
In related news, insider Paul A. Scoff sold 1,250 shares of Sprague Resources 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 sale, the insider now owns 20,155 shares of the company’s stock, valued at approximately $492,386.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cribstone Capital Management LLC bought a new position in Sprague Resources during the second quarter worth $124,000. Acrospire Investment Management LLC increased its position 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 in the last quarter. Emerald Acquisition Ltd. bought a new position in Sprague Resources during the second quarter worth $263,000. Raymond James & Associates increased its position 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 in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Sprague Resources during the second quarter worth $717,000. Hedge funds and other institutional investors own 53.57% of the company’s stock.