BidaskClub upgraded shares of Scorpio Tankers Inc. (NASDAQ:STNG) from a strong sell rating to a sell rating in a report published on Friday.

A number of other research analysts have also issued reports on the company. Bank of America Corporation upgraded Scorpio Tankers from an underperform rating to a buy rating and set a $6.00 target price for the company in a report on Friday, May 12th. Jefferies Group LLC reiterated a buy rating and issued a $5.50 target price (down from $6.00) on shares of Scorpio Tankers in a report on Saturday, July 22nd. Cowen and Company reiterated an outperform rating and issued a $7.00 target price (down from $10.00) on shares of Scorpio Tankers in a report on Thursday, April 27th. Credit Suisse Group set a $7.00 target price on Scorpio Tankers and gave the company a buy rating in a report on Wednesday, May 24th. Finally, Seaport Global Securities reiterated a buy rating and issued a $7.50 target price on shares of Scorpio Tankers in a report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $6.44.

Shares of Scorpio Tankers (STNG) traded up 7.28% during mid-day trading on Friday, reaching $3.98. The company had a trading volume of 4,429,103 shares. The firm has a 50-day moving average price of $3.63 and a 200-day moving average price of $3.95. The stock’s market capitalization is $647.59 million. Scorpio Tankers has a 1-year low of $3.20 and a 1-year high of $5.33.

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Several hedge funds have recently bought and sold shares of STNG. Principal Financial Group Inc. boosted its stake in Scorpio Tankers by 5.1% in the second quarter. Principal Financial Group Inc. now owns 27,152 shares of the shipping company’s stock worth $108,000 after buying an additional 1,316 shares during the period. Jane Street Group LLC purchased a new stake in Scorpio Tankers during the first quarter worth approximately $129,000. MML Investors Services LLC boosted its stake in Scorpio Tankers by 137.2% in the second quarter. MML Investors Services LLC now owns 36,743 shares of the shipping company’s stock worth $146,000 after buying an additional 21,250 shares during the period. GSA Capital Partners LLP purchased a new stake in Scorpio Tankers during the second quarter worth approximately $154,000. Finally, Nisa Investment Advisors LLC purchased a new stake in Scorpio Tankers during the first quarter worth approximately $158,000.

Scorpio Tankers Company Profile

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, LR1/Panamax and LR2. As of March 15, 2017, the Company’s fleet consisted of 78 owned tankers (22 LR2, 14 Handymax and 42 MR) with a weighted average age of approximately 2.3 years, and 19 time or bareboat chartered-in tankers, which it operated (one LR2, one LR1, eight MR and nine Handymax) (collectively referred to as its Operating Fleet).

Analyst Recommendations for Scorpio Tankers (NASDAQ:STNG)

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