Global Partners LP (NYSE:GLP) has been downgraded to Sell in a statement by Zacks Investment Research earlier today.
- Updated: October 10, 2016
Zacks Investment Research has downgraded Global Partners LP (NYSE:GLP) to Sell in a statement released on Monday October 10, 2016.
On Tuesday August 16, 2016, Barclays Capital released a statement for Global Partners LP (NYSE:GLP) bumped up the target price from $14.00 to $16.00 that suggested an upside of 0%.
Boasting a price of $16.00, Global Partners LP (NYSE:GLP) traded 2.04% higher on the day. With the last stock price close up 13.99% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the date range. Global Partners LP has recorded a 50-day average of $15.54 and a two hundred day average of $14.04. Volume of trade was down over the average, with 70,841 shares of GLP changing hands under the typical 142,875
With a total market value of $0, Global Partners LP has with a one year low of $12.28 and a one year high of $35.00 .
A total of 4 brokerages have issued a ratings update on the company. 1 brokerage rating the stock a strong buy, 0 brokerages rating the stock a buy, 6 brokerages rating the stock a hold, 0 brokerages rating the stock a underperform, and finally 0 brokerages rating the stock a sell with a average stock price target of $16.50.
Brief Synopsis On Global Partners LP (NYSE:GLP)
Global Partners LP is a midstream logistics and marketing company. The Company is engaged in the purchasing, selling and logistics of transporting petroleum and related products, including domestic and Canadian crude oil, gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, natural gas and propane. It operates through three segments: Wholesale, Gasoline Distribution and Station Operations (GDSO), and Commercial. Its Wholesale segment engages in the logistics of selling, gathering, storage and transportation of refined petroleum products, renewable fuels, crude oil and propane. In the GDSO segment, gasoline distribution includes sales of branded and unbranded gasoline to gasoline station operators and sub jobbers. Its Commercial segment includes sales and deliveries to end user customers in the public sector and to commercial and industrial end users of unbranded gasoline, home heating oil, diesel, kerosene, residual oil, bunker fuel and natural gas.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.