Global Partners (GLP) Gets a Hold Rating from Barclays

Barclays analyst Theresa Chen maintained a Hold rating on Global Partners (GLPResearch Report) on January 20 and set a price target of $18.00. The company’s shares closed last Thursday at $18.81, close to its 52-week high of $20.32.

According to TipRanks.com, Chen is a 4-star analyst with an average return of 12.5% and a 71.7% success rate. Chen covers the Industrial Goods sector, focusing on stocks such as KNOT Offshore Partners, Holly Energy Partners, and BP Midstream Partners.

Global Partners has an analyst consensus of Moderate Sell, with a price target consensus of $16.50.

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Based on Global Partners’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.06 billion and net profit of $18.23 million. In comparison, last year the company earned revenue of $3.25 billion and had a net profit of $15.08 million.

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Global Partners LP engages in purchasing, selling, storing, and logistics of transporting petroleum and related products. It operates through the following business segments; Wholesale, Gasoline Distribution and Station Operations (GDSO), and Commercial. The Wholesale segment sells branded and unbranded gasoline and gasoline blendstocks and diesel to wholesale distributors. The GDSO segment includes sales of branded and unbranded gasoline to gasoline station operators and sub jobbers. The Commercial segment refers to the sales and deliveries to end user customers in the public sector and to large commercial and industrial end users of unbranded gasoline, home heating oil, diesel, kerosene, residual oil, bunker fuel, and natural gas. The company was founded in March 2005 and is headquartered in Waltham, MA.