SunTrust Robinson Thinks Superior Energy’s Stock is Going to Recover


SunTrust Robinson analyst Kenneth Sill reiterated a Buy rating on Superior Energy (NYSE: SPN) on October 24 and set a price target of $11. The company’s shares closed on Friday at $8.16, close to its 52-week low of $7.40.

According to TipRanks.com, Sill is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -21.0% and a 12.8% success rate. Sill covers the Basic Materials sector, focusing on stocks such as Oceaneering International, Oil States International, and Propetro Holding Corp.

Superior Energy has an analyst consensus of Moderate Buy, with a price target consensus of $10.56, which is a 29.4% upside from current levels. In a report issued on October 24, Seaport Global also maintained a Buy rating on the stock with a $11 price target.

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Based on Superior Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $21.82 million. In comparison, last year the company had a GAAP net loss of $59.05 million.

Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SPN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Superior Energy Services, Inc. engages in the provision of oilfield services and equipment. It operates through the following business segments: Drilling Products and Services; Onshore Completion and Workover Services; Production Services; and Technical Solutions. The Drilling Products and Services segment provides downhole drilling tools and surface rentals.

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