Scorpio Tankers Inc. (NASDAQ:STNG) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Scorpio Tankers Inc. (NASDAQ:STNG) have earned an average recommendation of “Buy” from the fourteen analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $6.93.

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A number of equities analysts recently issued reports on the company. BidaskClub upgraded Scorpio Tankers from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 3rd. Credit Suisse Group set a $7.00 target price on Scorpio Tankers and gave the stock a “buy” rating in a research note on Monday, July 31st. Jefferies Group LLC restated a “buy” rating and issued a $5.50 target price (down previously from $6.00) on shares of Scorpio Tankers in a research note on Saturday, July 22nd. Seaport Global Securities restated a “buy” rating and issued a $7.50 target price on shares of Scorpio Tankers in a research note on Thursday, May 25th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $8.00 price target on shares of Scorpio Tankers in a research report on Thursday, May 25th.

Shares of Scorpio Tankers (STNG) traded down 1.75% on Tuesday, reaching $3.36. The company’s stock had a trading volume of 2,317,858 shares. The stock has a 50-day moving average of $3.76 and a 200 day moving average of $3.98. The company’s market cap is $546.71 million. Scorpio Tankers has a 52-week low of $3.32 and a 52-week high of $5.53.

Several large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its stake in Scorpio Tankers by 5.1% in the second quarter. Principal Financial Group Inc. now owns 27,152 shares of the shipping company’s stock worth $108,000 after buying an additional 1,316 shares during the period. Jane Street Group LLC acquired a new stake in Scorpio Tankers during the first quarter worth approximately $129,000. MML Investors Services LLC boosted its stake in Scorpio Tankers by 137.2% in the second quarter. MML Investors Services LLC now owns 36,743 shares of the shipping company’s stock worth $146,000 after buying an additional 21,250 shares during the period. GSA Capital Partners LLP acquired a new stake in Scorpio Tankers during the second quarter worth approximately $154,000. Finally, Nisa Investment Advisors LLC acquired a new stake in Scorpio Tankers during the first quarter worth approximately $158,000.

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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).