Wall Street Zen Downgrades Star Group (NYSE:SGU) to Buy

Key Points

• Wall Street Zen downgraded Star Group from “strong buy” to “buy,” while Weiss Ratings separately lowered its rating from “buy (b-)” to “hold (c).” MarketBeat data shows the stock’s average analyst rating is currently “Hold.”
• Star Group shares opened at $12.66, with a market capitalization of approximately $415.8 million, a P/E ratio of 6.77, and a 52-week range of $11.37 to $13.53.
• The company reported quarterly revenue of $358.07 million and a loss of $0.84 per share; institutional investors own about 40.36% of Star Group’s stock, with several major firms recently increasing or initiating positions.

Star Group (NYSE:SGU - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

Separately, Weiss Ratings lowered shares of Star Group from a "buy (b-)" rating to a "hold (c)" rating in a research note on Wednesday. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Star Group currently has an average rating of "Hold".

Star Group Price Performance

Shares of NYSE SGU opened at $12.66 on Friday. The stock has a market cap of $415.79 million, a P/E ratio of 6.77 and a beta of 0.33. Star Group has a twelve month low of $11.37 and a twelve month high of $13.53. The stock has a 50 day moving average of $12.78 and a two-hundred day moving average of $12.76. The company has a current ratio of 0.87, a quick ratio of 0.69 and a debt-to-equity ratio of 0.39.

Star Group (NYSE:SGU - Get Free Report) last announced its earnings results on Wednesday, August 5th. The pipeline company reported ($0.84) earnings per share (EPS) for the quarter. The business had revenue of $358.07 million for the quarter. Star Group had a return on equity of 24.43% and a net margin of 4.57%.

Institutional Investors Weigh In On Star Group

Several large investors have recently modified their holdings of SGU. BlackRock Inc. lifted its holdings in shares of Star Group by 400.0% during the second quarter. BlackRock Inc. now owns 19,501 shares of the pipeline company's stock worth $250,000 after purchasing an additional 15,601 shares during the period. Maridea Wealth Management LLC acquired a new stake in shares of Star Group in the 2nd quarter worth $550,000. Renaissance Technologies LLC lifted its stake in shares of Star Group by 1.1% in the 1st quarter. Renaissance Technologies LLC now owns 910,108 shares of the pipeline company's stock worth $11,176,000 after acquiring an additional 10,281 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Star Group by 14.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 129,080 shares of the pipeline company's stock worth $1,585,000 after acquiring an additional 16,544 shares during the period. Finally, AlphaCentric Advisors LLC purchased a new stake in shares of Star Group in the first quarter valued at about $261,000. Hedge funds and other institutional investors own 40.36% of the company's stock.

Star Group Company Profile

Star Group, L.P., together with its subsidiaries, provides home heating oil and propane products and services to residential and commercial customers in the United States. It offers gasoline and diesel fuel; and installs, maintain, and repairs heating and air conditioning equipment. As of September 30, 2023, the company served approximately 402,200 full service residential and commercial home heating oil and propane customers and 52,400 customers on a delivery only basis. It also sells gasoline and diesel fuel to approximately 26,600 customers.

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