Sprague Resources’s Equal Weight Rating Reaffirmed at Barclays (SRLP)
Sprague Resources (NASDAQ:SRLP)‘s stock had its “equal weight” rating reiterated by analysts at Barclays in a research report issued to clients and investors on Thursday. They currently have a $26.00 price objective on the stock, up from their previous price objective of $24.00. Barclays’ price objective suggests a potential upside of 1.36% from the company’s current price.
Sprague Resources (NASDAQ:SRLP) traded down 2.84% on Thursday, hitting $24.9226. 5,344 shares of the company’s stock traded hands. Sprague Resources has a 1-year low of $16.73 and a 1-year high of $27.30. The stock has a 50-day moving average of $24.76 and a 200-day moving average of $21.85. The company has a market cap of $502.7 million and a price-to-earnings ratio of 16.82.
Sprague Resources (NASDAQ:SRLP) last released its earnings data on Wednesday, August 13th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by $0.49. The company had revenue of $846.80 million for the quarter, compared to the consensus estimate of $523.33 million. Analysts expect that Sprague Resources will post $4.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 14th. Shareholders of record on Friday, August 8th will be given a dividend of $0.427 per share. This represents a $1.71 dividend on an annualized basis and a yield of 6.66%. The ex-dividend date of this dividend is Wednesday, August 6th. This is a positive change from Sprague Resources’s previous quarterly dividend of $0.41.
A number of other analysts have also recently weighed in on SRLP. Analysts at Zacks downgraded shares of Sprague Resources from an “outperform” rating to a “neutral” rating in a research note on Monday, August 4th. They now have a $28.30 price target on the stock. Analysts at JPMorgan Chase & Co. downgraded shares of Sprague Resources from an “overweight” rating to a “neutral” rating in a research note on Monday, June 2nd. They now have a $25.00 price target on the stock, up previously from $22.00. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $25.33.
Sprague Resources LP is engaged in the purchase, storage, distribution and sale of refined petroleum products.
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