Hornbeck Offshore Services Upgraded by Howard Weil to “Outperform” (HOS)

Hornbeck Offshore Services (NYSE:HOS) was upgraded by investment analysts at Howard Weil from a “sector perform” rating to an “outperform” rating in a note issued to investors on Tuesday, AnalystRatings.Net reports. The firm currently has a $71.00 price target on the stock, up from their previous price target of $51.00. Howard Weil’s price target would suggest a potential upside of 22.73% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays Capital raised their price target on shares of Hornbeck Offshore Services from $88.00 to $92.00 in a research note to investors on Friday, August 2nd. They now have an “overweight” rating on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “buy” rating on shares of Hornbeck Offshore Services in a research note to investors on Tuesday, July 23rd. They now have a $66.00 price target on the stock.

Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $65.02.

Hornbeck Offshore Services (NYSE:HOS) opened at 57.85 on Tuesday. Hornbeck Offshore Services has a 1-year low of $31.96 and a 1-year high of $58.87. The stock’s 50-day moving average is currently $55.68. The company has a market cap of $2.070 billion and a price-to-earnings ratio of 43.14.

Hornbeck Offshore Services (NYSE:HOS) last announced its earnings results on Wednesday, July 31st. The company reported $0.67 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.52 by $0.15. The company had revenue of $154.30 million for the quarter, compared to the consensus estimate of $148.30 million. During the same quarter last year, the company posted $0.35 earnings per share. Hornbeck Offshore Services’s revenue was up 17.2% compared to the same quarter last year. Analysts expect that Hornbeck Offshore Services will post $2.48 EPS for the current fiscal year.

In other Hornbeck Offshore Services news, Director Patricia Melcher sold 2,667 shares of Hornbeck Offshore Services stock in a transaction that occured on Monday, August 5th. The stock was sold at an average price of $57.84, for a total value of $154,259.28. Following the completion of the sale, the director now directly owns 39,016 shares of the company’s stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Hornbeck Offshore Services, Inc, is a provider of marine transportation services to exploration and production, oilfield service, offshore construction and United States military customers.