Scorpio Tankers Inc. (NASDAQ:STNG) has been given a $8.00 target price by equities researchers at Stifel Nicolaus in a research note issued on Monday. The brokerage currently has a “buy” rating on the shipping company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 100.50% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Seaport Global Securities reiterated a “buy” rating and issued a $7.50 target price on shares of Scorpio Tankers in a research report on Thursday, May 25th. Credit Suisse Group set a $7.00 target price on shares of Scorpio Tankers and gave the company a “buy” rating in a research report on Wednesday, May 24th. Jefferies Group LLC reiterated a “buy” rating and issued a $6.00 target price on shares of Scorpio Tankers in a research report on Thursday, May 25th. Bank of America Corporation upgraded shares of Scorpio Tankers from an “underperform” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Friday, May 12th. Finally, BidaskClub lowered shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. Scorpio Tankers currently has a consensus rating of “Buy” and a consensus price target of $6.44.

Shares of Scorpio Tankers (NASDAQ:STNG) opened at 3.99 on Monday. Scorpio Tankers has a 1-year low of $3.20 and a 1-year high of $5.33. The stock’s 50 day moving average is $3.63 and its 200 day moving average is $3.95. The stock’s market capitalization is $649.22 million.

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Several institutional investors have recently bought and sold shares of STNG. Worth Venture Partners LLC acquired a new position in Scorpio Tankers during the first quarter valued at $403,000. Ingalls & Snyder LLC raised its position in Scorpio Tankers by 20.1% in the first quarter. Ingalls & Snyder LLC now owns 572,218 shares of the shipping company’s stock valued at $2,541,000 after buying an additional 95,766 shares during the period. Karp Capital Management Corp acquired a new position in Scorpio Tankers during the first quarter valued at $164,000. Cedar Capital LLC raised its position in Scorpio Tankers by 23.6% in the first quarter. Cedar Capital LLC now owns 596,379 shares of the shipping company’s stock valued at $2,648,000 after buying an additional 113,858 shares during the period. Finally, Comerica Bank raised its position in Scorpio Tankers by 0.3% in the first quarter. Comerica Bank now owns 3,144,642 shares of the shipping company’s stock valued at $14,372,000 after buying an additional 8,220 shares during the period.

Scorpio Tankers Company Profile

Scorpio Tankers Inc (Scorpio Tankers) is engaged in the seaborne transportation of refined petroleum products in the international shipping markets. The Company operates through four segments: Handymax, MR, LR1/Panamax and LR2. As of March 15, 2017, the Company’s fleet consisted of 78 owned tankers (22 LR2, 14 Handymax and 42 MR) with a weighted average age of approximately 2.3 years, and 19 time or bareboat chartered-in tankers, which it operated (one LR2, one LR1, eight MR and nine Handymax) (collectively referred to as its Operating Fleet).

Analyst Recommendations for Scorpio Tankers (NASDAQ:STNG)

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