Shares of Global Partners (NYSE:GLP) were gapping down Tuesday morning with an open price 15.4% lower than Monday's closing price. The stock closed at $21.37 yesterday and opened today's trading at $18.07.
NEW YORK ( TheStreet) -- Shares of Global Partners (NYSE: GLP) were gapping down Tuesday morning with an open price 15.4% lower than Monday's closing price. The stock closed at $21.37 Monday and opened today's trading at $18.07. The average volume for Global has been 79,500 shares per day over the past 30 days. Global has a market cap of $431.4 million and is part of the services sector and wholesale industry. Shares are down 22% year to date as of the close of trading on Monday. Global Partners LP, through its subsidiaries, engages in the wholesale and commercial distribution of refined petroleum products and natural gas, and provides ancillary services in the United States and internationally. It operates in two segments, Wholesale and Commercial. The company has a P/E ratio of 32.7, above the average wholesale industry P/E ratio of 29 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Global as a hold. Among the primary strengths of the company is its robust revenue growth -- not just in the most recent periods but in previous quarters as well. At the same time, however, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and deteriorating net income. You can view the full Global Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping down? Get free SMS text alerts sent to you when the action happens by texting DOWN to 95370 or select from multiple alert options.