B.Riley FBR Reaffirms Their Buy Rating on Sprague Resources (SRLP)


B.Riley FBR analyst Robert Balsamo reiterated a Buy rating on Sprague Resources (NYSE: SRLP) on August 14 and set a price target of $29. The company’s shares closed yesterday at $24.40.

According to TipRanks.com, Balsamo ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -7.4% and a 44.3% success rate. Balsamo covers the Basic Materials sector, focusing on stocks such as EnLink Midstream Partners, EnLink Midstream LLC, and Nustar Energy LP.

Sprague Resources has an analyst consensus of Moderate Buy, with a price target consensus of $29, which is a 18.9% upside from current levels. In a report issued on August 8, Raymond James also maintained a Buy rating on the stock.

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The company has a one-year high of $29 and a one-year low of $21.80. Currently, Sprague Resources has an average volume of 34.74K.

Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock.

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Sprague Resources LP engages in the purchase, storage, distribution and sale of refined products and natural gas, and provides storage and handling services for a broad range of materials. It operates its business through the following segments: Refined Products, Natural Gas, Materials Handling, and Other Operations.

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