StealthGas (NASDAQ:GASS) Rating Increased to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of StealthGas (NASDAQ:GASSGet Rating) from a hold rating to a strong-buy rating in a research note published on Friday morning, Zacks.com reports. Zacks Investment Research currently has $2.75 target price on the shipping company’s stock.

According to Zacks, “StealthGas Inc is a provider of international seaborne transportation services to LPG producers and users. The Company’s vessels carry various petroleum and petrochemical gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of oil and natural gas. These products are transported in liquefied form in order to reduce their volume and to facilitate their handling. Transportation by sea represents a major element of gas transportation logistics. LPG products have a variety of both industrial and other uses, including transportation, fertilizer production, the manufacture of plastics, space heating, cooking, water heating and process heating. We serve industrial companies, as well as national and independent energy companies and energy traders. “

Other equities analysts also recently issued reports about the company. Jefferies Financial Group assumed coverage on StealthGas in a research report on Wednesday. They issued a buy rating for the company. StockNews.com assumed coverage on StealthGas in a research report on Wednesday. They issued a buy rating for the company.

Shares of NASDAQ:GASS opened at $2.56 on Friday. The business has a 50-day moving average price of $2.35 and a 200 day moving average price of $2.35. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.81 and a quick ratio of 0.76. StealthGas has a 12-month low of $1.91 and a 12-month high of $3.28.

StealthGas (NASDAQ:GASSGet Rating) last issued its quarterly earnings data on Tuesday, March 8th. The shipping company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The business had revenue of $31.26 million for the quarter, compared to analyst estimates of $30.06 million. StealthGas had a positive return on equity of 1.75% and a negative net margin of 23.38%. Equities analysts predict that StealthGas will post 0.52 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in shares of StealthGas by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 39,172 shares of the shipping company’s stock valued at $104,000 after buying an additional 4,250 shares during the period. Grant GrossMendelsohn LLC boosted its stake in shares of StealthGas by 94.3% in the 1st quarter. Grant GrossMendelsohn LLC now owns 20,600 shares of the shipping company’s stock valued at $50,000 after buying an additional 10,000 shares during the period. DGS Capital Management LLC purchased a new position in shares of StealthGas in the 4th quarter valued at about $30,000. Millennium Management LLC purchased a new position in shares of StealthGas in the 4th quarter valued at about $30,000. Finally, Two Sigma Securities LLC purchased a new position in shares of StealthGas in the 3rd quarter valued at about $44,000. 52.82% of the stock is owned by institutional investors.

StealthGas Company Profile (Get Rating)

StealthGas Inc, together with its subsidiaries, provides seaborne transportation services to liquefied petroleum gas (LPG) producers and users internationally. It also provides crude oil and product carriers chartered to oil producers, refiners, and commodities traders. The company's carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer; and refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel, as well as edible oils and chemicals.

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