Wall Street Zen Downgrades Scorpio Tankers (NYSE:STNG) to Buy

Scorpio Tankers (NYSE:STNG) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

Several other equities research analysts also recently commented on the stock. B. Riley Financial reissued a “buy” rating on shares of Scorpio Tankers in a research report on Friday, February 13th. BTIG Research boosted their target price on shares of Scorpio Tankers from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Dnb Carnegie downgraded shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 12th. Zacks Research raised shares of Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Finally, Jefferies Financial Group initiated coverage on shares of Scorpio Tankers in a research report on Friday, April 24th. They set a “buy” rating and a $90.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Scorpio Tankers presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.50.

Scorpio Tankers Trading Up 1.1%

STNG opened at $75.93 on Friday. Scorpio Tankers has a 1-year low of $38.83 and a 1-year high of $87.39. The company has a current ratio of 13.98, a quick ratio of 13.87 and a debt-to-equity ratio of 0.16. The company has a market cap of $3.83 billion, a P/E ratio of 7.47 and a beta of -0.26. The company has a fifty day moving average price of $78.14 and a two-hundred day moving average price of $67.78.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Wednesday, May 6th. The shipping company reported $3.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.23. The firm had revenue of $312.86 million during the quarter, compared to analysts’ expectations of $286.81 million. Scorpio Tankers had a net margin of 48.44% and a return on equity of 11.72%. The business’s revenue was up 46.2% on a year-over-year basis. During the same period last year, the company earned $1.03 earnings per share. Analysts predict that Scorpio Tankers will post 11.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. boosted its holdings in Scorpio Tankers by 110.3% during the third quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock worth $26,000 after purchasing an additional 246 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in Scorpio Tankers by 1,645.2% during the fourth quarter. Global Retirement Partners LLC now owns 541 shares of the shipping company’s stock worth $27,000 after purchasing an additional 510 shares during the last quarter. Clearstead Advisors LLC boosted its holdings in Scorpio Tankers by 67.9% during the third quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock worth $28,000 after purchasing an additional 205 shares during the last quarter. Assetmark Inc. purchased a new position in Scorpio Tankers during the first quarter worth about $28,000. Finally, Zions Bancorporation National Association UT purchased a new position in Scorpio Tankers in the fourth quarter valued at about $29,000. 54.64% of the stock is currently owned by hedge funds and other 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.