BTIG Research Forecasts Strong Price Appreciation for Scorpio Tankers (NYSE:STNG) Stock

Key Points

• BTIG Research raised Scorpio Tankers’ price target from $100 to $110 and maintained a “buy” rating, implying approximately 25% upside from the prior close.
• Analyst sentiment is mixed: five analysts rate the stock Buy, five Hold, and one Sell, resulting in a consensus “Hold” rating and an average price target of $91.57.
• Scorpio Tankers reported strong quarterly results, with EPS of $4.68 exceeding estimates and revenue rising 77.5% year over year to $408.73 million.

Scorpio Tankers (NYSE:STNG - Get Free Report) had its price objective increased by research analysts at BTIG Research from $100.00 to $110.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a "buy" rating on the shipping company's stock. BTIG Research's price target indicates a potential upside of 25.16% from the stock's previous close.

A number of other equities analysts have also recently commented on STNG. Morgan Stanley set a $86.00 target price on shares of Scorpio Tankers in a research report on Tuesday, August 18th. Bank of America restated an "underperform" rating on shares of Scorpio Tankers in a research report on Tuesday, September 8th. Zacks Research cut Scorpio Tankers from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 30th. Evercore reiterated an "outperform" rating and issued a $94.00 price objective on shares of Scorpio Tankers in a report on Wednesday, July 22nd. Finally, Wall Street Zen lowered Scorpio Tankers from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, July 14th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $91.57.

Scorpio Tankers Stock Performance

Shares of NYSE STNG opened at $87.88 on Friday. The stock's 50-day moving average is $79.24 and its 200 day moving average is $77.51. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of 5.49 and a beta of -0.22. Scorpio Tankers has a 1-year low of $48.93 and a 1-year high of $90.06. The company has a current ratio of 6.93, a quick ratio of 6.89 and a debt-to-equity ratio of 0.14.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its earnings results on Thursday, July 30th. The shipping company reported $4.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.56 by $0.12. The business had revenue of $408.73 million during the quarter, compared to analyst estimates of $398.25 million. Scorpio Tankers had a return on equity of 16.43% and a net margin of 67.16%.Scorpio Tankers's revenue for the quarter was up 77.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.41 earnings per share. On average, sell-side analysts anticipate that Scorpio Tankers will post 11.21 EPS for the current fiscal year.

Institutional Trading of Scorpio Tankers

Institutional investors have recently modified their holdings of the company. Assetmark Inc. purchased a new position in Scorpio Tankers during the 1st quarter valued at about $28,000. Root Financial Partners LLC lifted 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 worth $39,000 after buying an additional 347 shares during the period. Pinnacle Holdings LLC purchased a new stake in Scorpio Tankers in the 2nd quarter worth approximately $48,000. Public Employees Retirement System of Ohio bought a new stake in shares of Scorpio Tankers in the 2nd quarter worth approximately $92,000. Finally, Leonteq Securities AG bought a new stake in shares of Scorpio Tankers in the 4th quarter worth approximately $75,000. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

About Scorpio Tankers

Scorpio Tankers Inc is a marine transportation company that owns, operates and manages a fleet of product tankers. The company transports refined petroleum products, including gasoline, diesel, jet fuel and heating oil, as well as certain petrochemical feedstocks, for energy companies, commodity traders and other commercial customers.

Scorpio Tankers' fleet has included medium-range, long-range and handymax product tankers, which serve different trade routes and cargo requirements. Its vessels operate internationally, carrying refined petroleum products between major refining, storage and consumption centers across regions including the Americas, Europe, the Middle East and Asia.

The company was established in 2009 and is headquartered in Monaco.

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