Zacks Investment Research Lowers StealthGas (GASS) to Sell

StealthGas (NASDAQ:GASS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

According to Zacks, “StealthGas Inc is a provider of international seaborne transportation services to LPG producers and users. The Company’s vessels carry various petroleum and petrochemical gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of oil and natural gas. These products are transported in liquefied form in order to reduce their volume and to facilitate their handling. Transportation by sea represents a major element of gas transportation logistics. LPG products have a variety of both industrial and other uses, including transportation, fertilizer production, the manufacture of plastics, space heating, cooking, water heating and process heating. We serve industrial companies, as well as national and independent energy companies and energy traders. “

Separately, Jefferies Group started coverage on StealthGas in a research report on Monday, December 18th. They issued a “buy” rating and a $7.00 target price for the company.

StealthGas (GASS) traded down $0.06 during trading hours on Wednesday, reaching $4.48. The company’s stock had a trading volume of 645,577 shares, compared to its average volume of 89,448. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.56. StealthGas has a twelve month low of $2.90 and a twelve month high of $4.78. The stock has a market capitalization of $176.98, a P/E ratio of -28.00 and a beta of 1.68.

StealthGas (NASDAQ:GASS) last released its earnings results on Wednesday, November 22nd. The shipping company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.03). StealthGas had a positive return on equity of 1.06% and a negative net margin of 4.14%. The firm had revenue of $38.55 million during the quarter, compared to analysts’ expectations of $37.13 million. analysts forecast that StealthGas will post 0.16 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. State Street Corp increased its position in StealthGas by 16.9% in the second quarter. State Street Corp now owns 41,521 shares of the shipping company’s stock worth $135,000 after buying an additional 5,998 shares during the last quarter. Goldman Sachs Group Inc. increased its position in StealthGas by 65.0% in the second quarter. Goldman Sachs Group Inc. now owns 46,953 shares of the shipping company’s stock worth $153,000 after buying an additional 18,495 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in StealthGas in the third quarter worth $280,000. Macquarie Group Ltd. purchased a new stake in StealthGas in the third quarter worth $352,000. Finally, Russell Investments Group Ltd. increased its position in StealthGas by 79.8% in the third quarter. Russell Investments Group Ltd. now owns 969,813 shares of the shipping company’s stock worth $3,210,000 after buying an additional 430,400 shares during the last quarter. 63.44% of the stock is owned by institutional investors and hedge funds.

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About StealthGas

StealthGas Inc is a provider of international seaborne transportation services to liquefied petroleum gas (LPG) producers and users, as well as crude oil and product carriers to oil producers, refineries and commodities traders. The Company owns a fleet of LPG carriers. Its LPG carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of crude oil and natural gas.

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