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Seaspan Corporation (NYSE:SSW) has been downgraded to Sell in a report by Zacks Investment Research today.

Zacks Investment Research has downgraded Seaspan Corporation (NYSE:SSW) to Sell in a report released on Wednesday September 28, 2016.

Previously on Friday April 01, 2016, Barclays Capital reported on Seaspan Corporation (NYSE:SSW) lowered the target price from $15.00 to $14.00. At the time, this indicated a possible downside of -0.20%.

Yesterday Seaspan Corporation (NYSE:SSW) traded -0.22% lower at $13.29. The company’s 50-day moving average is $14.28 and its 200-day moving average is $15.60. The last closing price is down -14.08% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 174,378 shares of the stock were exchanged, down from an average trading volume of 370,711

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Seaspan Corporation (NYSE:SSW)

Seaspan Corporation has 52 week low of $13.27 and a 52 week high of $20.00 with a PE ratio of 15.47 and has a market capitalization of $0.

In addition to Zacks Investment Research reporting its stock price target, a total of 8 brokers have issued a research note on the company. The average stock price target is $18.00 with 1 broker rating the stock a strong buy, 1 broker rating the stock a buy, 8 brokers rating the stock a hold, 2 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.

Brief Synopsis On Seaspan Corporation (NYSE:SSW)

Seaspan Corporation is an independent charter owner and manager of containerships. It charters pursuant to long-term, fixed-rate time charters with various container liner companies. It operates a fleet of approximately 90 containerships. Its operating vessels include YM Wish, YM Wellhead, YM Witness, CSCL Manzanillo and Guayaquil Bridge. Its over four 4,800 20-foot equivalent unit (TEU) vessels are chartered by Mediterranean Shipping Company S.A. under bareboat charters, which are contracts for the use of a vessel for a fixed period of time. It is responsible for the operation and management of vessel, including maintaining the vessel, periodic dry-docking, cleaning and painting and performing work required by regulations under each of the time charters. It also provides limited ship management services to Dennis R. Washington's personal vessel owning companies, and ship management and construction supervision services to Greater China Intermodal Investments LLC (GCI).

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