Investment analysts at BTIG Research started coverage on shares of Scorpio Tankers (NYSE:STNG) in a research note issued to investors on Thursday, The Fly reports. The brokerage set a “buy” rating on the shipping company’s stock.

Several other equities analysts have also recently issued reports on STNG. ValuEngine upgraded Scorpio Tankers from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Zacks Investment Research raised Scorpio Tankers from a “sell” rating to a “hold” rating in a report on Wednesday, June 27th. Morgan Stanley lowered their price objective on Scorpio Tankers from $3.00 to $2.70 and set an “overweight” rating on the stock in a report on Wednesday, August 1st. Stifel Nicolaus set a $5.00 price objective on Scorpio Tankers and gave the company a “buy” rating in a report on Tuesday, July 31st. Finally, Bank of America lowered their price objective on Scorpio Tankers from $3.75 to $3.00 and set a “buy” rating on the stock in a report on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $4.20.

Shares of STNG stock opened at $1.95 on Thursday. The stock has a market capitalization of $696.42 million, a P/E ratio of -4.15 and a beta of 1.09. Scorpio Tankers has a 52-week low of $1.80 and a 52-week high of $3.73. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.71 and a current ratio of 0.73.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings results on Tuesday, July 31st. The shipping company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.01). The company had revenue of $141.80 million during the quarter, compared to analyst estimates of $144.35 million. Scorpio Tankers had a negative net margin of 31.44% and a negative return on equity of 9.08%. The business’s revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) EPS. equities research analysts forecast that Scorpio Tankers will post -0.47 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in STNG. SG Americas Securities LLC boosted its holdings in Scorpio Tankers by 321.5% in the 1st quarter. SG Americas Securities LLC now owns 60,854 shares of the shipping company’s stock valued at $119,000 after purchasing an additional 46,417 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Scorpio Tankers by 48.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,363,492 shares of the shipping company’s stock valued at $2,673,000 after purchasing an additional 443,436 shares in the last quarter. Northern Trust Corp boosted its holdings in Scorpio Tankers by 9.1% in the 1st quarter. Northern Trust Corp now owns 2,428,848 shares of the shipping company’s stock valued at $4,760,000 after purchasing an additional 201,712 shares in the last quarter. BlackRock Inc. boosted its holdings in Scorpio Tankers by 8.9% in the 1st quarter. BlackRock Inc. now owns 12,131,850 shares of the shipping company’s stock valued at $23,779,000 after purchasing an additional 993,468 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in Scorpio Tankers by 24.4% in the 1st quarter. New York State Common Retirement Fund now owns 291,800 shares of the shipping company’s stock valued at $572,000 after purchasing an additional 57,300 shares in the last quarter. 60.65% of the stock is currently owned by institutional investors.

About Scorpio Tankers

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 22, 2018, its fleet consisted of 109 tankers, including 38 LR2, 12 LR1, 45 MR, and 14 Handymax tankers with an average age of approximately 2.6 years; and 20 time or bareboat chartered-in tankers, which include 2 LR2, 10 MR, and 8 Handymax tankers.

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Analyst Recommendations for Scorpio Tankers (NYSE:STNG)

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