Janney Capital Upgrades Sprague Resources LP to Buy with Price Target $31

Brokerage firm Janney Capital Upgrades its rating on Sprague Resources LP(SRLP). As per the latest information, Janney Capital Raises the price target to $31 per share from a prior target of $28. The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by the stock financial advisor at Janney Capital was issued on Mar 20, 2017 in a research report to their Investors and Clients.

Sprague Resources LP (SRLP) shares turned negative on Wednesdays trading session with the shares closing down -0.35 points or -1.29% at a volume of 23,613. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $27.345. The peak price level was also seen at $27.345 while the days lowest was $26.8. Finally the shares closed at $26.8. The 52-week high of the shares is $30.35 while the 52-week low is $18.15. According to the latest information available, the market cap of the company is $574 M.

Sprague Resources LP(SRLP) last announced its earnings results on Mar 10, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $766.825M. Analysts had an estimated revenue of $641.390M. Earnings per share were $-0.08. Analysts had estimated an EPS of $1.05.

Several Insider Transactions has been reported to the SEC. On Jan 4, 2017, Paul A. Scoff (officer ) sold 1,250 shares at $28.20 per share price.Also, On Mar 25, 2015, Brian W. Weego (Vice President, Natural Gas) sold 2,500 shares at $25.50 per share price.

Sprague Resources LP (Sprague Resources) 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 natural gas materials handling and other operations. The Company’s refined products segment purchases a range of refined products such as heating oil diesel fuel residual fuel oil asphalt kerosene jet fuel and gasoline and sells them to its customers. The natural gas segment purchases sells and distributes natural gas to commercial and industrial customers primarily in the Northeast and Mid-Atlantic United States. The materials handling segment offloads stores and prepares for delivery a range of customer-owned products. The Company’s other operations consist primarily of coal marketing and distribution and commercial trucking. Sprague Resources’ product brands include HeatForce and RoadForce.

Add Comment