Seaspan (SSW) Receives New Coverage from Analysts at Jefferies Group
Separately, ValuEngine downgraded Seaspan from a buy rating to a hold rating in a research note on Friday, September 1st. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $8.21.
Seaspan (NYSE:SSW) opened at $6.45 on Monday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a market capitalization of $729.02, a price-to-earnings ratio of 8.30, a PEG ratio of 1.75 and a beta of 0.61. Seaspan has a 12 month low of $5.02 and a 12 month high of $11.76.
Several hedge funds have recently bought and sold shares of SSW. Dimensional Fund Advisors LP lifted its stake in shares of Seaspan by 523.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,072,771 shares of the shipping company’s stock valued at $7,430,000 after purchasing an additional 900,606 shares during the period. Bank of America Corp DE raised its stake in Seaspan by 9.3% during the 1st quarter. Bank of America Corp DE now owns 20,822 shares of the shipping company’s stock worth $144,000 after buying an additional 1,775 shares during the period. Credit Suisse AG raised its stake in Seaspan by 27.1% during the 1st quarter. Credit Suisse AG now owns 50,425 shares of the shipping company’s stock worth $350,000 after buying an additional 10,759 shares during the period. Schwab Charles Investment Management Inc. acquired a new stake in Seaspan during the 2nd quarter worth $157,000. Finally, First Trust Advisors LP raised its stake in Seaspan by 144.2% during the 2nd quarter. First Trust Advisors LP now owns 351,385 shares of the shipping company’s stock worth $2,509,000 after buying an additional 207,520 shares during the period. 14.32% of the stock is currently owned by institutional investors.
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Seaspan Corporation is an independent charter owner and manager of containerships. The Company charters pursuant to long-term, fixed-rate time charters with various container liner companies. As of February 20, 2017, it had operated a fleet of 88 containerships and had entered into contracts for the purchase of an additional eight new building containerships.
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