Scorpio Tankers (NYSE:STNG) Upgraded at Bank of America

Key Points

• Bank of America upgraded Scorpio Tankers from "underperform" to "buy" and set a $100 price target, implying roughly a 21.1% upside from the stock's current level.
• Scorpio Tankers reported strong Q results—EPS $3.02 vs. $2.73 expected and revenue $312.9M vs. $286.8M—while shares opened at $82.58 and were down about 4.7%.
• Analyst consensus is skewed positive with six Buys and four Holds and an average target of $93.17; the company has a market cap of ~$4.16B, a PE of ~8.1, and about 54.6% institutional ownership.

Scorpio Tankers (NYSE:STNG - Get Free Report) was upgraded by analysts at Bank of America from an "underperform" rating to a "buy" rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The firm currently has a $100.00 target price on the shipping company's stock. Bank of America's price target points to a potential upside of 21.10% from the stock's current price.

Several other brokerages have also commented on STNG. B. Riley Financial restated a "buy" rating on shares of Scorpio Tankers in a report on Friday, February 13th. Dnb Carnegie lowered Scorpio Tankers from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 12th. Zacks Research upgraded Scorpio Tankers from a "strong sell" rating to a "hold" rating in a research note on Friday, February 13th. BTIG Research lifted their price target on Scorpio Tankers from $85.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Moffett Nathanson raised Scorpio Tankers to a "neutral" rating in a research note on Monday, January 12th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $93.17.

Scorpio Tankers Stock Down 4.7%

Shares of NYSE STNG opened at $82.58 on Thursday. The company has a current ratio of 9.33, a quick ratio of 9.23 and a debt-to-equity ratio of 0.19. Scorpio Tankers has a 12 month low of $37.96 and a 12 month high of $87.39. The firm has a market capitalization of $4.16 billion, a PE ratio of 8.12 and a beta of -0.24. The firm has a fifty day simple moving average of $75.31 and a two-hundred day simple moving average of $64.93.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its earnings results on Tuesday, May 5th. The shipping company reported $3.02 EPS for the quarter, topping the consensus estimate of $2.73 by $0.29. The firm had revenue of $312.86 million during the quarter, compared to analysts' expectations of $286.81 million. Scorpio Tankers had a net margin of 48.44% and a return on equity of 12.02%. The company's quarterly revenue was up 46.2% compared to the same quarter last year. During the same period last year, the company posted $1.03 EPS. Equities analysts expect that Scorpio Tankers will post 8.79 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Assetmark Inc. purchased a new stake in shares of Scorpio Tankers during the 1st quarter valued at about $28,000. SBI Securities Co. Ltd. boosted its holdings in shares of Scorpio Tankers by 110.3% in the third quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company's stock worth $26,000 after buying an additional 246 shares during the last quarter. Clearstead Advisors LLC boosted its holdings in shares of Scorpio Tankers by 67.9% in the third quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company's stock worth $28,000 after buying an additional 205 shares during the last quarter. Root Financial Partners LLC grew its position in Scorpio Tankers by 193.9% during the first 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. Finally, Global Retirement Partners LLC grew its position in Scorpio Tankers by 1,645.2% during the fourth 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. 54.64% of the stock is owned by hedge funds and other institutional investors.

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.

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