Global Partners LP Upgraded by Bank of America Corp. to “Buy” (GLP)
Global Partners LP (NYSE:GLP) was upgraded by stock analysts at Bank of America Corp. to a “buy” rating in a report issued on Friday, Stock Ratings Network.com reports.
Shares of Global Partners LP (NYSE:GLP) opened at 35.29 on Friday. Global Partners LP has a 1-year low of $25.33 and a 1-year high of $40.99. The stock’s 50-day moving average is $34.86 and its 200-day moving average is $35.45. The company has a market cap of $962.3 million and a P/E ratio of 20.89.
Global Partners LP (NYSE:GLP) last released its earnings data on Thursday, November 7th. The company reported $0.09 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.38 by $0.29. The company had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter in the prior year, the company posted $0.24 earnings per share. The company’s quarterly revenue was down 4.0% on a year-over-year basis.
A number of other firms have also recently commented on GLP. Analysts at MLV Capital initiated coverage on shares of Global Partners LP in a research note to investors on Monday, December 2nd. They set a “hold” rating on the stock. Analysts at Zacks upgraded shares of Global Partners LP from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, October 9th. They now have a $34.10 price target on the stock. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $36.70.
Global Partners LP (NYSE:GLP) is a master limited partnership engaged in the wholesale and commercial distribution of refined petroleum products and, natural gas and provides ancillary services to companies.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.