Scorpio Tankers (NYSE:STNG) Price Target Raised to $100.00 at BTIG Research

Key Points

• BTIG Research raised its price target on Scorpio Tankers to $100 from $85 and kept a "buy" rating, implying about a 16.6% upside from the prior close.
• Quarterly results beat expectations: Scorpio Tankers reported $3.02 EPS vs. $2.73 expected, with revenue up 46.2% year-over-year and a net margin of 36.7%.
• Analyst consensus is cautiously positive—MarketBeat shows a "Moderate Buy" average rating with a consensus price target of $88, while the stock trades around $85.77 (12‑month high $87.39) and has a market cap of about $4.44 billion.

Scorpio Tankers (NYSE:STNG - Get Free Report) had its price target increased by BTIG Research from $85.00 to $100.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the shipping company's stock. BTIG Research's price target would suggest a potential upside of 16.59% from the company's previous close.

Other equities analysts have also recently issued reports about the company. Bank of America increased their target price on Scorpio Tankers from $70.00 to $72.00 and gave the stock an "underperform" rating in a report on Tuesday, March 31st. Evercore reissued an "outperform" rating and issued a $93.00 target price on shares of Scorpio Tankers in a report on Tuesday, April 21st. Zacks Research raised Scorpio Tankers from a "strong sell" rating to a "hold" rating in a report on Friday, February 13th. Jefferies Financial Group assumed coverage on Scorpio Tankers in a report on Friday, April 24th. They issued a "buy" rating and a $90.00 target price for the company. Finally, Moffett Nathanson raised Scorpio Tankers to a "neutral" rating in a report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $88.00.

Scorpio Tankers Stock Performance

Shares of NYSE STNG traded up $2.50 during trading hours on Tuesday, reaching $85.77. The stock had a trading volume of 845,995 shares, compared to its average volume of 1,182,101. The business's fifty day moving average is $74.80 and its two-hundred day moving average is $64.52. The company has a debt-to-equity ratio of 0.19, a current ratio of 9.33 and a quick ratio of 9.23. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 12.16 and a beta of -0.24. Scorpio Tankers has a twelve month low of $37.96 and a twelve month high of $87.39.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its earnings results on Tuesday, May 5th. The shipping company reported $3.02 EPS for the quarter, beating analysts' consensus estimates of $2.73 by $0.29. Scorpio Tankers had a return on equity of 8.85% and a net margin of 36.70%.The firm's quarterly revenue was up 46.2% on a year-over-year basis. During the same period last year, the business earned $1.03 earnings per share. As a group, research analysts expect that Scorpio Tankers will post 8.79 EPS for the current year.

Institutional Investors Weigh In On Scorpio Tankers

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Scorpio Tankers by 20.2% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,695 shares of the shipping company's stock valued at $649,000 after purchasing an additional 1,459 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in Scorpio Tankers by 6.3% during the 1st quarter. Bleakley Financial Group LLC now owns 12,030 shares of the shipping company's stock valued at $898,000 after purchasing an additional 718 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Scorpio Tankers by 97.0% during the 1st quarter. Hsbc Holdings PLC now owns 29,740 shares of the shipping company's stock valued at $2,229,000 after purchasing an additional 14,641 shares in the last quarter. Kestra Advisory Services LLC increased its holdings in Scorpio Tankers by 108.5% during the 1st quarter. Kestra Advisory Services LLC now owns 11,023 shares of the shipping company's stock valued at $823,000 after purchasing an additional 5,737 shares in the last quarter. Finally, Saxon Interests Inc. bought a new position in Scorpio Tankers in the 1st quarter valued at $207,000. 54.64% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.