Sprague Resources (SRLP) Lowered to “Buy” at ValuEngine

Sprague Resources (NYSE:SRLP) was downgraded by ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.

A number of other research firms have also recently issued reports on SRLP. BidaskClub upgraded Sprague Resources from a “sell” rating to a “hold” rating in a research report on Friday, October 6th. Zacks Investment Research upgraded Sprague Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Finally, B. Riley set a $29.00 target price on Sprague Resources and gave the company a “buy” rating in a research report on Monday, December 18th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $31.67.

Shares of Sprague Resources (NYSE:SRLP) traded up $0.30 during midday trading on Friday, hitting $26.90. The company had a trading volume of 36,317 shares, compared to its average volume of 21,421. Sprague Resources has a 52 week low of $22.95 and a 52 week high of $30.75. The company has a quick ratio of 1.16, a current ratio of 2.35 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $606.68, a PE ratio of 15.03 and a beta of 1.36.

Sprague Resources (NYSE:SRLP) last released its earnings results on Tuesday, November 7th. The oil and gas company reported ($0.68) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.72). Sprague Resources had a net margin of 1.50% and a return on equity of 24.89%. research analysts anticipate that Sprague Resources will post 3.12 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the company. Taylor Wealth Management Partners grew its holdings in shares of Sprague Resources by 249.5% during the fourth quarter. Taylor Wealth Management Partners now owns 13,490 shares of the oil and gas company’s stock worth $326,000 after purchasing an additional 9,630 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Sprague Resources by 10.1% during the third quarter. Janney Montgomery Scott LLC now owns 66,360 shares of the oil and gas company’s stock worth $1,632,000 after purchasing an additional 6,105 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Sprague Resources during the third quarter worth about $219,000. Wells Fargo & Company MN grew its holdings in shares of Sprague Resources by 35.5% during the third quarter. Wells Fargo & Company MN now owns 33,557 shares of the oil and gas company’s stock worth $825,000 after purchasing an additional 8,798 shares during the last quarter. Finally, Beaton Management Co. Inc. grew its holdings in shares of Sprague Resources by 23.3% during the third quarter. Beaton Management Co. Inc. now owns 13,750 shares of the oil and gas company’s stock worth $338,000 after purchasing an additional 2,600 shares during the last quarter. Institutional investors own 22.04% of the company’s stock.

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Sprague Resources Company Profile

Sprague Resources LP is engaged in the purchase, storage, distribution and sale of refined products and natural gas, and provides storage and handling services for a range of materials. The Company operates through four segments: refined products, which purchases a range of refined products, such as heating oil, diesel fuel, residual fuel oil, asphalt, kerosene, jet fuel and gasoline from refining companies, trading organizations and producers; natural gas, which purchases natural gas from natural gas producers and trading companies, and sells and distributes natural gas to commercial and industrial customers in the Northeast and Mid-Atlantic United States; materials handling, which offloads, stores and prepares for delivery a range of customer-owned products, including asphalt, clay slurry, coal and heavy equipment, and other operations, which include the purchase and distribution of coal, certain commercial trucking activities and the heating equipment service business.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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