Analysts Set Global Partners LP (NYSE:GLP) PT at $14.33

Shares of Global Partners LP (NYSE:GLP) have been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $14.33.

A number of equities analysts recently issued reports on GLP shares. ValuEngine raised shares of Global Partners from a “sell” rating to a “hold” rating in a report on Friday, May 1st. Stifel Nicolaus dropped their price objective on shares of Global Partners from $19.00 to $12.00 and set a “hold” rating on the stock in a report on Tuesday, April 21st. Wells Fargo & Co dropped their price objective on shares of Global Partners from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Tuesday, April 14th. Finally, Barclays raised shares of Global Partners from an “underweight” rating to an “equal weight” rating in a report on Tuesday, March 24th.

NYSE:GLP traded down $0.08 on Friday, reaching $9.75. 74,016 shares of the stock traded hands, compared to its average volume of 157,453. The company has a market capitalization of $331.45 million, a price-to-earnings ratio of 13.73 and a beta of 1.53. The company has a current ratio of 1.84, a quick ratio of 1.26 and a debt-to-equity ratio of 4.14. Global Partners has a 12 month low of $6.30 and a 12 month high of $20.95. The company’s fifty day simple moving average is $10.21 and its 200 day simple moving average is $14.22.

Global Partners (NYSE:GLP) last announced its quarterly earnings results on Friday, May 8th. The energy company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.20). The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $3.09 billion. Global Partners had a net margin of 0.25% and a return on equity of 11.01%. Equities analysts anticipate that Global Partners will post -0.42 EPS for the current fiscal year.

In other Global Partners news, insider Global Gp Llc purchased 27,807 shares of Global Partners stock in a transaction that occurred on Friday, June 26th. The shares were bought at an average price of $9.60 per share, for a total transaction of $266,947.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 41.50% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in GLP. Advisor Group Holdings Inc. purchased a new position in Global Partners during the first quarter worth $49,000. Acadian Asset Management LLC purchased a new position in Global Partners during the first quarter worth $53,000. Avantax Advisory Services Inc. boosted its stake in Global Partners by 28.2% during the first quarter. Avantax Advisory Services Inc. now owns 16,076 shares of the energy company’s stock worth $139,000 after buying an additional 3,535 shares during the period. Vident Investment Advisory LLC purchased a new position in Global Partners during the first quarter worth $144,000. Finally, AE Wealth Management LLC purchased a new position in Global Partners during the first quarter worth $152,000. Institutional investors own 34.61% of the company’s stock.

Global Partners Company Profile

Global Partners LP engages in the purchasing, selling, gathering, blending, storing, and logistics of transporting gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, and propane to wholesalers, retailers, and commercial customers in the New England states and New York.

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