Scorpio Tankers (NYSE:STNG) Stock Rating Lowered by Zacks Research

Scorpio Tankers (NYSE:STNG) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other research firms have also weighed in on STNG. B. Riley reissued a “buy” rating and set a $80.00 price target (up from $75.00) on shares of Scorpio Tankers in a research report on Thursday, October 16th. Jefferies Financial Group reissued a “buy” rating and set a $70.00 target price on shares of Scorpio Tankers in a research report on Thursday, October 30th. Bank of America lowered Scorpio Tankers from a “buy” rating to an “underperform” rating in a report on Friday, January 9th. Moffett Nathanson raised Scorpio Tankers to a “neutral” rating in a research report on Monday. Finally, BTIG Research reissued a “buy” rating and issued a $75.00 price objective on shares of Scorpio Tankers in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $70.17.

Scorpio Tankers Stock Down 1.4%

STNG stock opened at $59.23 on Tuesday. The firm has a market capitalization of $3.02 billion, a PE ratio of 10.02 and a beta of -0.27. The company has a quick ratio of 4.75, a current ratio of 4.81 and a debt-to-equity ratio of 0.25. Scorpio Tankers has a twelve month low of $30.63 and a twelve month high of $65.52. The stock’s 50 day moving average is $55.97 and its 200-day moving average is $53.08.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Thursday, October 30th. The shipping company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.10. Scorpio Tankers had a return on equity of 7.42% and a net margin of 32.01%.The business had revenue of $232.92 million during the quarter, compared to the consensus estimate of $228.09 million. During the same quarter in the prior year, the company posted $1.75 earnings per share. Scorpio Tankers’s revenue was down 9.9% compared to the same quarter last year. Sell-side analysts expect that Scorpio Tankers will post 5.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Scorpio Tankers

Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in Scorpio Tankers by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,944,875 shares of the shipping company’s stock worth $165,064,000 after buying an additional 7,868 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Scorpio Tankers by 7.6% during the 3rd quarter. American Century Companies Inc. now owns 1,913,729 shares of the shipping company’s stock worth $107,265,000 after acquiring an additional 135,123 shares during the period. Victory Capital Management Inc. increased its holdings in Scorpio Tankers by 7.1% in the 3rd quarter. Victory Capital Management Inc. now owns 1,249,834 shares of the shipping company’s stock worth $70,053,000 after acquiring an additional 83,294 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Scorpio Tankers by 136.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 853,712 shares of the shipping company’s stock valued at $43,394,000 after acquiring an additional 492,584 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in Scorpio Tankers by 68.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 806,049 shares of the shipping company’s stock valued at $45,179,000 after acquiring an additional 326,973 shares during the period. 54.64% of the stock is owned by institutional investors.

About Scorpio Tankers

Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.