In a report released today, Justin Jenkins from Raymond James maintained a Hold rating on Global Partners (GLP – Research Report). The company’s shares closed last Friday at $24.84, close to its 52-week high of $26.91.
According to TipRanks.com, Jenkins is a 4-star analyst with an average return of 9.4% and a 62.9% success rate. Jenkins covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Holly Energy Partners, and Crossamerica Partners.
Global Partners has an analyst consensus of Moderate Buy, with a price target consensus of $21.50.
Based on Global Partners’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.2 billion and net profit of $4.44 million. In comparison, last year the company earned revenue of $3.35 billion and had a GAAP net loss of $828K.
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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.