Global Partners Sets New 1-Year High at $43.00 (GLP)
Global Partners (NYSE:GLP) reached a new 52-week high on Monday , AnalystRatings.NET reports. The stock traded as high as $43.00 and last traded at $42.80, with a volume of 27,299 shares. The stock had previously closed at $41.60.
A number of research firms have recently commented on GLP. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Global Partners in a research note on Monday, June 2nd. They now have a $41.00 price target on the stock, up previously from $35.00. Separately, analysts at Zacks upgraded shares of Global Partners from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 22nd. They now have a $43.20 price target on the stock. Finally, analysts at Barclays raised their price target on shares of Global Partners from $37.00 to $40.00 in a research note on Monday, May 12th. They now have an “equal weight” rating on the stock. Four investment 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 $41.80.
The stock’s 50-day moving average is $40.76 and its 200-day moving average is $37.94. The company has a market cap of $1.158 billion and a price-to-earnings ratio of 9.78.
Global Partners (NYSE:GLP) last announced its earnings results on Thursday, May 8th. The company reported $1.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.48 by $0.72. The company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter last year, the company posted $0.51 earnings per share. Global Partners’s revenue was down 8.5% compared to the same quarter last year. On average, analysts predict that Global Partners will post $2.51 earnings per share for the current fiscal year.
In other Global Partners news, Insider Global Gp Llc purchased 9,800 shares of the stock on the open market in a transaction dated Thursday, June 5th. The shares were purchased at an average cost of $40.90 per share, with a total value of $400,820.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Global Partners LP is engaged in purchasing, storing, terminalling, transporting and selling refined petroleum products, renewable fuels and crude oil.
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