Scorpio Tankers (NYSE:STNG) Downgraded by Zacks Research to Hold

Scorpio Tankers (NYSE:STNG) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. Jefferies Financial Group started coverage on shares of Scorpio Tankers in a research note on Friday, April 24th. They issued a “buy” rating and a $90.00 price objective on the stock. Evercore reaffirmed an “outperform” rating and set a $98.00 target price on shares of Scorpio Tankers in a report on Wednesday, May 27th. BTIG Research upped their target price on shares of Scorpio Tankers from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Finally, Dnb Carnegie downgraded Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.50.

Scorpio Tankers Price Performance

Shares of STNG stock opened at $78.64 on Monday. The stock has a 50-day moving average price of $78.47 and a 200 day moving average price of $68.66. The company has a quick ratio of 13.87, a current ratio of 13.98 and a debt-to-equity ratio of 0.16. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 7.73 and a beta of -0.26. Scorpio Tankers has a 12 month low of $38.83 and a 12 month high of $87.39.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Scorpio Tankers by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 3,128,150 shares of the shipping company’s stock valued at $233,544,000 after purchasing an additional 122,874 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Scorpio Tankers by 7.6% during the third quarter. American Century Companies Inc. now owns 1,913,729 shares of the shipping company’s stock worth $107,265,000 after purchasing an additional 135,123 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Scorpio Tankers by 7.1% during the third quarter. Victory Capital Management Inc. now owns 1,249,834 shares of the shipping company’s stock worth $70,053,000 after purchasing an additional 83,294 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Scorpio Tankers by 12.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,223,015 shares of the shipping company’s stock valued at $62,166,000 after buying an additional 137,000 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Scorpio Tankers by 7.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 918,223 shares of the shipping company’s stock valued at $68,555,000 after buying an additional 64,511 shares during the period. Institutional investors and hedge funds own 54.64% of the company’s stock.

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.