Zacks Research Downgrades Scorpio Tankers (NYSE:STNG) to Strong Sell

Scorpio Tankers (NYSE:STNG) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Scorpio Tankers in a research note on Monday, December 29th. Moffett Nathanson raised Scorpio Tankers to a “neutral” rating in a research note on Monday. Jefferies Financial Group reissued a “buy” rating and set a $70.00 target price on shares of Scorpio Tankers in a research report on Thursday, October 30th. Bank of America cut Scorpio Tankers from a “buy” rating to an “underperform” rating in a research note on Friday, January 9th. Finally, B. Riley restated a “buy” rating and set a $80.00 price objective (up previously from $75.00) on shares of Scorpio Tankers in a research note on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $70.17.

Scorpio Tankers Price Performance

Scorpio Tankers stock traded down $0.85 during mid-day trading on Tuesday, hitting $58.44. 73,719 shares of the company were exchanged, compared to its average volume of 1,335,675. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.81 and a quick ratio of 4.75. Scorpio Tankers has a 12-month low of $30.63 and a 12-month high of $65.52. The business’s 50 day simple moving average is $55.97 and its two-hundred day simple moving average is $53.08. The company has a market capitalization of $2.98 billion, a P/E ratio of 9.93 and a beta of -0.27.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Thursday, October 30th. The shipping company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.10. Scorpio Tankers had a return on equity of 7.42% and a net margin of 32.01%.The firm had revenue of $232.92 million during the quarter, compared to analysts’ expectations of $228.09 million. During the same quarter last year, the business posted $1.75 EPS. The firm’s quarterly revenue was down 9.9% compared to the same quarter last year. Analysts forecast that Scorpio Tankers will post 5.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. increased its stake in shares of Scorpio Tankers by 110.3% in the third quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock valued at $26,000 after purchasing an additional 246 shares during the period. Clearstead Advisors LLC raised its stake in Scorpio Tankers by 67.9% during the 3rd quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock valued at $28,000 after acquiring an additional 205 shares in the last quarter. Quantbot Technologies LP bought a new stake in Scorpio Tankers during the 3rd quarter valued at $36,000. Aster Capital Management DIFC Ltd acquired a new position in Scorpio Tankers during the 3rd quarter worth $41,000. Finally, Spire Wealth Management grew its stake in shares of Scorpio Tankers by 77.1% in the second quarter. Spire Wealth Management now owns 758 shares of the shipping company’s stock worth $30,000 after purchasing an additional 330 shares in the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.

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.