Trade Report: Today: Suburban Propane Partners LP (SPH) Rating Increased to Buy at Stifel Nicolaus

Today: Suburban Propane Partners LP (SPH) Rating Increased to Buy at Stifel Nicolaus

Suburban Propane Partners LP (NYSE:SPH) was upgraded by equities research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage currently has a $36.00 price target on the stock, up from their prior price target of $34.00. Stifel Nicolaus’ price target suggests a potential upside of 9.62% from the stock’s current price.

A number of other equities research analysts have also weighed in on SPH. Zacks Investment Research raised shares of Suburban Propane Partners from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Argus reaffirmed a “hold” rating on shares of Suburban Propane Partners in a research note on Monday, July 11th. Finally, Janney Montgomery Scott assumed coverage on shares of Suburban Propane Partners in a research note on Wednesday, July 20th. They set a “neutral” rating and a $30.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $34.29.

Shares of Suburban Propane Partners (NYSE:SPH) opened at 32.84 on Thursday. The firm has a 50-day moving average of $32.97 and a 200 day moving average of $32.68. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 285.57 and a beta of 0.69. Suburban Propane Partners has a 1-year low of $20.93 and a 1-year high of $37.10.

Suburban Propane Partners (NYSE:SPH) last announced its earnings results on Thursday, August 4th. The company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.14. The company had revenue of $205.10 million for the quarter, compared to the consensus estimate of $218.29 million. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.67) EPS. Equities research analysts forecast that Suburban Propane Partners will post $0.42 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the company. State Street Corp increased its position in shares of Suburban Propane Partners by 4.1% in the first quarter. State Street Corp now owns 54,876 shares of the company’s stock valued at $1,640,000 after buying an additional 2,147 shares in the last quarter. Rafferty Asset Management LLC increased its position in shares of Suburban Propane Partners by 6.0% in the first quarter. Rafferty Asset Management LLC now owns 72,551 shares of the company’s stock valued at $2,169,000 after buying an additional 4,087 shares in the last quarter. Williams Jones & Associates LLC purchased a new position in shares of Suburban Propane Partners during the first quarter valued at about $238,000. National Planning Corp increased its position in shares of Suburban Propane Partners by 4.0% in the first quarter. National Planning Corp now owns 11,188 shares of the company’s stock valued at $339,000 after buying an additional 429 shares in the last quarter. Finally, Harvest Fund Advisors LLC purchased a new position in shares of Suburban Propane Partners during the first quarter valued at about $11,961,000.

Suburban Propane Partners Company Profile

Related posts

Leave a Comment