UBS AG Upgrades Scorpio Tankers Inc. (STNG) to Buy

Scorpio Tankers Inc. (NASDAQ:STNG) was upgraded by analysts at UBS AG from a “neutral” rating to a “buy” rating in a note issued to investors on Monday.

Other analysts have also recently issued reports about the stock. Stifel Nicolaus set a $7.00 price objective on shares of Scorpio Tankers and gave the company a “buy” rating in a research note on Sunday, October 29th. Credit Suisse Group reissued a “buy” rating and set a $7.00 price objective on shares of Scorpio Tankers in a research note on Tuesday, September 19th. Jefferies Group LLC reissued a “buy” rating and set a $5.50 price objective (down from $6.00) on shares of Scorpio Tankers in a research note on Saturday, July 22nd. Zacks Investment Research raised shares of Scorpio Tankers from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, BidaskClub raised shares of Scorpio Tankers from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $6.33.

Shares of Scorpio Tankers (STNG) opened at $3.43 on Monday. Scorpio Tankers has a 12 month low of $3.20 and a 12 month high of $4.93.

Scorpio Tankers (NASDAQ:STNG) last announced its quarterly earnings data on Monday, September 18th. The shipping company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.04). Scorpio Tankers had a negative net margin of 57.63% and a negative return on equity of 19.98%. The company had revenue of $118.40 million for the quarter, compared to analysts’ expectations of $130.03 million. Scorpio Tankers’s revenue was down 13.7% on a year-over-year basis.

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Several large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its holdings in shares of Scorpio Tankers by 1.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 124,670 shares of the shipping company’s stock valued at $495,000 after acquiring an additional 1,315 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Scorpio Tankers by 5.1% during the 2nd quarter. Principal Financial Group Inc. now owns 27,152 shares of the shipping company’s stock valued at $108,000 after acquiring an additional 1,316 shares in the last quarter. Comerica Securities Inc. lifted its holdings in shares of Scorpio Tankers by 0.5% during the 2nd quarter. Comerica Securities Inc. now owns 423,883 shares of the shipping company’s stock valued at $1,683,000 after acquiring an additional 2,061 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Scorpio Tankers by 0.8% during the 2nd quarter. Wells Fargo & Company MN now owns 558,058 shares of the shipping company’s stock valued at $2,215,000 after acquiring an additional 4,320 shares in the last quarter. Finally, Nationwide Fund Advisors lifted its holdings in shares of Scorpio Tankers by 4.0% during the 2nd quarter. Nationwide Fund Advisors now owns 131,118 shares of the shipping company’s stock valued at $521,000 after acquiring an additional 5,041 shares in the last quarter.

About Scorpio Tankers

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, LR1/Panamax and LR2. As of March 15, 2017, the Company’s fleet consisted of 78 owned tankers (22 LR2, 14 Handymax and 42 MR) with a weighted average age of approximately 2.3 years, and 19 time or bareboat chartered-in tankers, which it operated (one LR2, one LR1, eight MR and nine Handymax) (collectively referred to as its Operating Fleet).

Analyst Recommendations for Scorpio Tankers (NASDAQ:STNG)

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