Can Sprague Resources LP (SRLP)’s Tomorrow be Different? The Stock Just Broke Its 1 Year Low

May 16, 2018 - By Richard Conner

Sprague Resources LP (NYSE:SRLP) Logo

Investors sentiment increased to 1.18 in 2017 Q4. Its up 0.29, from 0.89 in 2017Q3. It is positive, as 3 investors sold Sprague Resources LP shares while 8 reduced holdings. 4 funds opened positions while 9 raised stakes. 4.85 million shares or 2.98% less from 5.00 million shares in 2017Q3 were reported.
Manufacturers Life Ins The holds 697 shares. 24,929 were reported by Acadian Asset Mgmt Lc. Cohen Steers reported 175,942 shares or 0.01% of all its holdings. Van Eck Associates has 85,230 shares. Bank & Trust Of America Corp De reported 113,587 shares. 158,550 were reported by Doheny Asset Mgmt Ca. Spirit Of America Mngmt invested in 0.59% or 220,282 shares. First Republic Invest Mngmt, a California-based fund reported 12,475 shares. Janney Montgomery Scott Ltd Limited Liability Company has 0.02% invested in Sprague Resources LP (NYSE:SRLP) for 66,640 shares. Deutsche Bank & Trust Ag reported 0% stake. Cypress Capital Management Limited Co (Wy) has invested 0.01% of its portfolio in Sprague Resources LP (NYSE:SRLP). Morgan Stanley, a New York-based fund reported 41,614 shares. Royal Financial Bank Of Canada invested in 300 shares. Gsa Cap Ltd Liability Partnership invested 0.03% in Sprague Resources LP (NYSE:SRLP). Fort Washington Advsrs Incorporated Oh accumulated 17,094 shares.

The stock of Sprague Resources LP (NYSE:SRLP) hit a new 52-week low and has $22.04 target or 6.00 % below today’s $23.45 share price. The 8 months bearish chart indicates high risk for the $532.96 million company. The 1-year low was reported on May, 16 by Barchart.com. If the $22.04 price target is reached, the company will be worth $31.98 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock increased 1.30% or $0.3 during the last trading session, reaching $23.45. About 28,308 shares traded. Sprague Resources LP (NYSE:SRLP) has declined 11.28% since May 16, 2017 and is downtrending. It has underperformed by 22.83% the S&P500.

Analysts await Sprague Resources LP (NYSE:SRLP) to report earnings on August, 8. They expect $-0.52 earnings per share, down 33.33 % or $0.13 from last year’s $-0.39 per share. After $3.21 actual earnings per share reported by Sprague Resources LP for the previous quarter, Wall Street now forecasts -116.20 % negative EPS growth.

Sprague Resources LP (NYSE:SRLP) Ratings Coverage

Among 4 analysts covering Sprague Resources (NYSE:SRLP), 2 have Buy rating, 2 Sell and 0 Hold. Therefore 50% are positive. Sprague Resources had 6 analyst reports since November 21, 2017 according to SRatingsIntel. The firm has “Buy” rating given on Wednesday, March 14 by FBR Capital. B. Riley & Co maintained it with “Buy” rating and $29 target in Tuesday, December 19 report. J.P. Morgan downgraded Sprague Resources LP (NYSE:SRLP) rating on Friday, April 6. J.P. Morgan has “Sell” rating and $2500 target. The firm earned “Hold” rating on Tuesday, November 21 by J.P. Morgan. The stock of Sprague Resources LP (NYSE:SRLP) has “Underweight” rating given on Friday, April 6 by JP Morgan.

More important recent Sprague Resources LP (NYSE:SRLP) news were published by: Globenewswire.com which released: “Sprague Resources LP Announces Chief Accounting Officer Retirement and Appointment” on May 15, 2018, also Seekingalpha.com published article titled: “Sprague Resources’ (SRLP) CEO David Glendon on Q1 2018 Results – Earnings Call Transcript”, Globenewswire.com published: “Sprague Resources LP Reports First Quarter 2018 Results” on May 08, 2018. More interesting news about Sprague Resources LP (NYSE:SRLP) was released by: Globenewswire.com and their article: “Sprague Resources LP Announces Cash Distribution for the First Quarter of 2018 and Earnings Conference Call …” with publication date: April 26, 2018.

Sprague Resources LP engages in the purchase, storage, distribution, and sale of refined petroleum products and natural gas in the United States. The company has market cap of $532.96 million. The firm operates through four divisions: Refined Products, Natural Gas, Materials Handling, and Other Operations. It has a 20.75 P/E ratio. The Refined Products segment purchases and sells various refined products, such as heating oil, diesel fuel, residual fuel oil, kerosene, jet fuel, gasoline, and asphalt to wholesale and commercial customers.

Sprague Resources LP (NYSE:SRLP) Institutional Positions Chart

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