In a report released yesterday, Justin Jenkins from Raymond James maintained a Hold rating on Sprague Resources (SRLP). The company’s shares closed last Thursday at $15.84.
According to TipRanks.com, Jenkins is a 1-star analyst with an average return of -1.7% and a 51.7% success rate. Jenkins covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Holly Energy Partners, and Crossamerica Partners.
Sprague Resources has an analyst consensus of Hold.
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Based on Sprague Resources’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $358 million and GAAP net loss of $25.13 million. In comparison, last year the company earned revenue of $662 million and had a GAAP net loss of $4.78 million.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SRLP in relation to earlier this year.
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Sprague Resources LP engages in the purchase, storage, distribution and sale of refined products and natural gas. It operates its business through the following segments: Refined Products, Natural Gas, Materials Handling, and Other Operations. The Refined Products segment offers refined products, such as heating oil, diesel, residual fuel oil, kerosene, jet fuel and gasoline. The Natural Gas segment purchases, sells and distributes natural gas. The Materials Handling segment stores various customer owned products, which includes asphalt, clay slurry, salt, gypsum, coal, petroleum coke, caustic soda, tallow, pulp and heavy equipment. The Other Operations segment includes the marketing and distribution of coal conducted in Portland, Maine terminal, commercial trucking activity conducted by Canadian subsidiary and heating equipment service business. The company was founded by Charles Hill Sprague in 1870 and is headquartered in Portsmouth, NH.
