Star Group Stock Rating Upgraded by StockNews.com

On Friday, StockNews.com made a notable adjustment to their evaluation of Star Group (NYSE:SGU), upgrading the stock from a "buy" rating to a "strong-buy" rating in a research note distributed to investors.

Star Group Price Performance

During midday trading on Friday, shares of Star Group experienced a decline of $0.19, reaching a price of $12.24. A total of 11,747 shares changed hands, which is lower than the company's average trading volume of 33,494 shares. Currently, Star Group holds a current ratio of 0.75, a quick ratio of 0.64, and a debt-to-equity ratio of 0.71. The company has a market capitalization of approximately $423.26 million and a price-to-earnings ratio of 21.47, with a beta value of 0.48. Over the past year, the stock has recorded a low of $9.64 and a high of $12.99. The 50-day simple moving average stands at $11.70, while the 200-day simple moving average is at $11.66.

Star Group last released its quarterly earnings report on February 5, where it announced earnings per share (EPS) of $0.79 for the quarter. The company's net margin was reported at 1.99%, and it achieved a return on equity of 12.01%.

Hedge Funds Weigh In On Star Group

Recently, several hedge funds and institutional investors have adjusted their positions in Star Group. For example, JPMorgan Chase & Co. increased their stake in the company by 12.0% during the third quarter, bringing their ownership to 622,573 shares worth approximately $7.31 million after acquiring an additional 66,806 shares. Similarly, Victory Capital Management Inc. entered a new position in Star Group during the same quarter, with an investment of about $566,000. GSA Capital Partners LLP also boosted their stake by 89.4%, now holding 22,884 shares valued at $269,000 after purchasing an additional 10,799 shares. Other notable transactions include Roxbury Financial LLC and Jones Financial Companies LLC, both acquiring new stakes in Star Group worth $122,000 and $27,000, respectively. In total, hedge funds and institutional investors own about 40.36% of Star Group's stock.

About Star Group

Star Group, L.P., along with its subsidiaries, provides home heating oil and propane products and services aimed at residential and commercial customers throughout the United States. The company also offers gasoline and diesel fuel and is involved in installing, maintaining, and repairing heating and air conditioning systems. As of September 30, 2023, Star Group serves approximately 402,200 full-service residential and commercial customers for home heating oil and propane, in addition to 52,400 delivery-only customers.

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