Zacks Investment Research downgraded Scorpio Tankers Inc. (NASDAQ:STNG) to Sell in a report released today.
- Updated: October 12, 2016
Zacks Investment Research has downgraded Scorpio Tankers Inc. (NASDAQ:STNG) to Sell in a report released on 10/13/2016.
Just yesterday Scorpio Tankers Inc. (NASDAQ:STNG) traded -1.52% lower at $4.55. Scorpio Tankers Inc.’s 50-day moving average is $4.81 and its 200-day moving average is $5.20. The last stock price is down -12.46% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.01% over the same time period. 3,188,166 shares of the stock were exchanged, up from an average trading volume of 2,941,190
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Scorpio Tankers Inc. has a 52 week low of $4.05 and a 52 week high of $9.83 with a P/E ratio of 5.22 The company’s market cap is currently $0.
In addition to Zacks Investment Research reporting its target price, a total of 16 firms have reported on the stock. The consensus target price is $8.42 with 4 firms rating the stock a strong buy, 10 firms rating the stock a buy, 2 firms rating the stock a hold, 1 firm rating the stock a underperform, and finally 0 firms rating the stock a sell.
About Scorpio Tankers Inc. (NASDAQ:STNG)
Scorpio Tankers Inc. (Scorpio Tankers) is engaged in the seaborne transportation of refined petroleum products in the international shipping markets. The Company operates through four segments: Handymax, MR, Panamax/LR1 and Aframax/LR2. The Company's fleet consists of approximately 78 tankers (over 18 LR2 tankers, approximately 14 Handymax tankers and over 46 MR tankers) with a weighted average age of approximately 1.5 years, and approximately 11 time chartered-in tankers, which it operates (approximately three LR2 tankers, a LR1 tanker, over four MR tankers and approximately three Handymax tankers), which it refers to collectively as its Operating Fleet. In addition, the Company has contracts for the construction of approximately 12 newbuilding product tankers (over eight MR tankers and approximately four LR2 tankers), which it refers to as its Newbuilding Program.
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