Seaspan (SSW) PT Raised to $6.00 at Morgan Stanley

Seaspan (NYSE:SSW) had its target price hoisted by Morgan Stanley from $5.50 to $6.00 in a report issued on Monday. The firm currently has an “underweight” rating on the shipping company’s stock. Morgan Stanley’s price objective would suggest a potential downside of 13.79% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. ValuEngine cut Seaspan from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Seaport Global Securities upgraded Seaspan from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Wednesday, January 24th. Zacks Investment Research cut Seaspan from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. Finally, Jefferies Group began coverage on Seaspan in a research note on Monday, December 18th. They issued a “buy” rating and a $20.00 price objective for the company. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $8.63.

Seaspan (NYSE SSW) traded down $0.01 during mid-day trading on Monday, reaching $6.96. The company had a trading volume of 126,947 shares, compared to its average volume of 1,362,285. The stock has a market capitalization of $862.69, a PE ratio of 15.47, a price-to-earnings-growth ratio of 1.42 and a beta of 0.52. Seaspan has a 12-month low of $5.02 and a 12-month high of $8.91. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.19 and a current ratio of 1.19.

Several large investors have recently added to or reduced their stakes in the company. Schroder Investment Management Group acquired a new position in shares of Seaspan in the fourth quarter valued at approximately $2,198,000. Wells Fargo & Company MN increased its holdings in shares of Seaspan by 19.4% in the fourth quarter. Wells Fargo & Company MN now owns 47,289 shares of the shipping company’s stock valued at $319,000 after purchasing an additional 7,690 shares during the period. First Trust Advisors LP increased its holdings in shares of Seaspan by 4.2% in the fourth quarter. First Trust Advisors LP now owns 427,184 shares of the shipping company’s stock valued at $2,883,000 after purchasing an additional 17,268 shares during the period. California Public Employees Retirement System increased its holdings in shares of Seaspan by 15.5% in the fourth quarter. California Public Employees Retirement System now owns 238,334 shares of the shipping company’s stock valued at $1,609,000 after purchasing an additional 31,934 shares during the period. Finally, Silver Capital Management LLC acquired a new position in shares of Seaspan in the fourth quarter valued at approximately $500,000. 14.81% of the stock is currently owned by institutional investors and hedge funds.

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Seaspan Company Profile

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.

Analyst Recommendations for Seaspan (NYSE:SSW)

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