Jefferies Financial Group Upgrades Scorpio Tankers (NYSE:STNG) to “Strong-Buy”

Scorpio Tankers (NYSE:STNG) was upgraded by stock analysts at Jefferies Financial Group to a “strong-buy” rating in a report issued on Friday,Zacks.com reports.

STNG has been the subject of several other research reports. Dnb Carnegie downgraded shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Scorpio Tankers in a research note on Monday, December 29th. Zacks Research raised shares of Scorpio Tankers from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $83.00 target price on shares of Scorpio Tankers in a research note on Friday, February 13th. Finally, BTIG Research boosted their target price on shares of Scorpio Tankers from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Scorpio Tankers currently has an average rating of “Moderate Buy” and a consensus target price of $85.50.

Scorpio Tankers Trading Up 1.3%

NYSE:STNG opened at $78.21 on Friday. The company has a market capitalization of $4.05 billion, a PE ratio of 11.06 and a beta of -0.32. The company has a quick ratio of 9.23, a current ratio of 9.33 and a debt-to-equity ratio of 0.19. Scorpio Tankers has a 52-week low of $35.55 and a 52-week high of $81.85. The stock has a fifty day simple moving average of $74.00 and a 200-day simple moving average of $63.70.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Friday, February 13th. The shipping company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.25. The business had revenue of $252.65 million during the quarter, compared to the consensus estimate of $238.93 million. Scorpio Tankers had a return on equity of 8.85% and a net margin of 36.70%.The business’s revenue was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 EPS. On average, equities research analysts expect that Scorpio Tankers will post 8.49 earnings per share for the current fiscal year.

Institutional Trading of Scorpio Tankers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. grew its holdings in Scorpio Tankers by 110.3% in the 3rd quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock valued at $26,000 after buying an additional 246 shares during the period. Clearstead Advisors LLC grew its holdings in Scorpio Tankers by 67.9% in the 3rd quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock valued at $28,000 after buying an additional 205 shares during the period. Root Financial Partners LLC grew its holdings in Scorpio Tankers by 193.9% in the 1st quarter. Root Financial Partners LLC now owns 526 shares of the shipping company’s stock valued at $39,000 after buying an additional 347 shares during the period. Global Retirement Partners LLC grew its holdings in Scorpio Tankers by 1,645.2% in the 4th quarter. Global Retirement Partners LLC now owns 541 shares of the shipping company’s stock valued at $27,000 after buying an additional 510 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new stake in Scorpio Tankers in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors 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.