Zacks Research Upgrades Scorpio Tankers (NYSE:STNG) to Strong-Buy

Scorpio Tankers (NYSE:STNG) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other analysts have also issued reports on STNG. Morgan Stanley set a $82.00 price target on shares of Scorpio Tankers and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Wall Street Zen cut Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Scorpio Tankers in a report on Thursday, June 18th. Bank of America lowered Scorpio Tankers from a “buy” rating to an “underperform” rating and decreased their price target for the company from $100.00 to $78.00 in a research note on Tuesday, June 30th. Finally, Evercore reissued an “outperform” rating and set a $98.00 price target on shares of Scorpio Tankers in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.71.

Scorpio Tankers Trading Up 0.8%

STNG opened at $78.50 on Tuesday. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 7.72 and a beta of -0.24. The company has a quick ratio of 13.87, a current ratio of 13.98 and a debt-to-equity ratio of 0.16. Scorpio Tankers has a twelve month low of $42.20 and a twelve month high of $87.39. The company has a 50-day simple moving average of $77.90 and a 200 day simple moving average of $71.99.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Wednesday, May 6th. The shipping company reported $3.02 EPS for the quarter, beating the consensus estimate of $2.79 by $0.23. The firm had revenue of $312.86 million for the quarter, compared to analyst estimates of $286.81 million. Scorpio Tankers had a net margin of 48.44% and a return on equity of 11.72%. The business’s quarterly revenue was up 46.2% compared to the same quarter last year. During the same period last year, the firm earned $1.03 EPS. Analysts predict that Scorpio Tankers will post 13.07 EPS for the current fiscal year.

Institutional Trading of Scorpio Tankers

Hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC grew its stake in shares of 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 buying an additional 510 shares during the last quarter. Assetmark Inc. acquired a new position in shares of Scorpio Tankers during the first quarter worth $28,000. Zions Bancorporation National Association UT bought a new position in shares of Scorpio Tankers in the 4th quarter valued at $29,000. Smartleaf Asset Management LLC boosted its holdings in shares of Scorpio Tankers by 154.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 646 shares of the shipping company’s stock valued at $33,000 after acquiring an additional 392 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Scorpio Tankers during the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Company Profile

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.