The Sunoco LP (SUN) gets Strong Sell status at Zacks Investment Research

The Sunoco LP (SUN) gets Strong Sell status at Zacks Investment Research

Zacks Investment Research lowered shares of Sunoco LP (NYSE:SUN) from a hold rating to a strong sell rating in a research report released on Thursday morning.

According to Zacks, “Sunoco LP operates as a wholesale fuel distributor. It engages in distributing motor fuel to convenience stores, independent dealers, commercial customers and distributors. The Company also operates convenience stores and retail fuel sites. Sunoco LP, formerly known as Susser Petroleum Partners LP, is based in Houston, Texas. “

Several other research firms have also recently weighed in on SUN. Robert W. Baird cut Sunoco from an outperform rating to a neutral rating and dropped their price objective for the stock from $43.00 to $30.00 in a report on Thursday, August 4th. FBR & Co assumed coverage on Sunoco in a research note on Friday, September 9th. They issued a market perform rating and a $32.00 target price for the company. Vetr cut Sunoco from a strong-buy rating to a hold rating and set a $31.00 target price for the company. in a research note on Monday, August 15th. Morgan Stanley assumed coverage on Sunoco in a research note on Monday, August 15th. They issued an equal weight rating and a $32.00 target price for the company. Finally, Royal Bank Of Canada restated an outperform rating and issued a $44.00 target price on shares of Sunoco in a research note on Tuesday, August 9th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $34.76.

Shares of Sunoco (NYSE:SUN) traded up 0.3936% on Thursday, reaching $28.4415. The company’s stock had a trading volume of 38,740 shares. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 23.8804 and a beta of 0.67. The stock has a 50-day moving average of $29.55 and a 200 day moving average of $31.25. Sunoco has a 52-week low of $22.86 and a 52-week high of $40.06.

Several hedge funds have recently modified their holdings of SUN. Gilman Hill Asset Management LLC raised its stake in shares of Sunoco by 1.2% in the second quarter. Gilman Hill Asset Management LLC now owns 10,375 shares of the company’s stock valued at $311,000 after buying an additional 125 shares during the last quarter. Youngs Advisory Group Inc. raised its stake in shares of Sunoco by 3.2% in the second quarter. Youngs Advisory Group Inc. now owns 12,913 shares of the company’s stock valued at $387,000 after buying an additional 404 shares during the last quarter. BlackRock Inc. raised its stake in shares of Sunoco by 8.6% in the second quarter. BlackRock Inc. now owns 5,230 shares of the company’s stock valued at $157,000 after buying an additional 412 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of Sunoco by 9.7% in the second quarter. GSA Capital Partners LLP now owns 10,190 shares of the company’s stock valued at $305,000 after buying an additional 900 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Sunoco by 4.1% in the first quarter. State Street Corp now owns 24,046 shares of the company’s stock valued at $796,000 after buying an additional 941 shares during the last quarter. 41.97% of the stock is owned by institutional investors.

Sunoco Company Profile

Sunoco LP, formerly Susser Petroleum Partners LP, is engaged in the retail sale of motor fuels and merchandise through the Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors.

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