Scorpio Tankers Inc. (STNG) Receives $6.88 Average PT from Analysts
Shares of Scorpio Tankers Inc. (NASDAQ:STNG) have been given a consensus rating of “Hold” by the seven ratings firms that are presently covering the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $6.88.
A number of equities research analysts have issued reports on STNG shares. Zacks Investment Research downgraded Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Thursday, October 13th. Clarkson Capital downgraded Scorpio Tankers from a “buy” rating to a “neutral” rating in a research report on Monday, October 3rd. Morgan Stanley reissued an “equal weight” rating and set a $4.50 price target (down previously from $6.00) on shares of Scorpio Tankers in a research report on Friday, August 26th. Credit Suisse Group AG reissued a “buy” rating and set a $7.00 price target on shares of Scorpio Tankers in a research report on Monday, October 17th. Finally, Deutsche Bank AG set a $9.00 price target on Scorpio Tankers and gave the company a “buy” rating in a research report on Monday, August 1st.
Several large investors have recently modified their holdings of the company. IBM Retirement Fund bought a new stake in shares of Scorpio Tankers during the second quarter valued at $108,000. American Century Companies Inc. increased its stake in shares of Scorpio Tankers by 78.9% in the second quarter. American Century Companies Inc. now owns 1,600,455 shares of the company’s stock valued at $6,722,000 after buying an additional 705,821 shares during the last quarter. Commerzbank Aktiengesellschaft FI bought a new stake in shares of Scorpio Tankers during the second quarter valued at $135,000. Putnam FL Investment Management Co. increased its stake in shares of Scorpio Tankers by 19.3% in the second quarter. Putnam FL Investment Management Co. now owns 33,695 shares of the company’s stock valued at $142,000 after buying an additional 5,460 shares during the last quarter. Finally, Wedbush Securities Inc. increased its stake in shares of Scorpio Tankers by 410.1% in the second quarter. Wedbush Securities Inc. now owns 67,142 shares of the company’s stock valued at $282,000 after buying an additional 53,979 shares during the last quarter.
Shares of Scorpio Tankers (NASDAQ:STNG) opened at 4.16 on Wednesday. Scorpio Tankers has a 12 month low of $3.61 and a 12 month high of $9.16. The stock’s 50 day moving average price is $4.36 and its 200 day moving average price is $4.92. The firm has a market cap of $671.34 million and a price-to-earnings ratio of 4.77.
About Scorpio Tankers
Scorpio Tankers Inc (Scorpio Tankers) is engaged in the seaborne transportation of refined petroleum products in the international shipping markets. The Company operates through four segments: Handymax, MR, Panamax/LR1 and Aframax/LR2. The Company’s fleet consists of approximately 78 tankers (over 18 LR2 tankers, approximately 14 Handymax tankers and over 46 MR tankers) with a weighted average age of approximately 1.5 years, and approximately 11 time chartered-in tankers, which it operates (approximately three LR2 tankers, a LR1 tanker, over four MR tankers and approximately three Handymax tankers), which it refers to collectively as its Operating Fleet.
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