StealthGas (GASS) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of StealthGas (NASDAQ:GASS) from a hold rating to a sell rating in a research note released on Wednesday.

According to Zacks, “StealthGas Inc is a provider of international seaborne transportation services to LPG producers and users. The Company’s vessels carry various petroleum and petrochemical gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of oil and natural gas. These products are transported in liquefied form in order to reduce their volume and to facilitate their handling. Transportation by sea represents a major element of gas transportation logistics. LPG products have a variety of both industrial and other uses, including transportation, fertilizer production, the manufacture of plastics, space heating, cooking, water heating and process heating. We serve industrial companies, as well as national and independent energy companies and energy traders. “

Separately, Jefferies Group started coverage on StealthGas in a research report on Monday, December 18th. They set a buy rating and a $7.00 price target on the stock.

StealthGas (NASDAQ:GASS) opened at $4.48 on Wednesday. StealthGas has a 1 year low of $2.90 and a 1 year high of $4.78. The stock has a market capitalization of $181.17, a price-to-earnings ratio of 28.41 and a beta of 1.68. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.57 and a current ratio of 0.60.

StealthGas (NASDAQ:GASS) last issued its quarterly earnings results on Wednesday, November 22nd. The shipping company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). StealthGas had a negative net margin of 4.14% and a positive return on equity of 1.06%. The firm had revenue of $38.55 million for the quarter, compared to analyst estimates of $37.13 million. sell-side analysts predict that StealthGas will post 0.16 earnings per share for the current year.

Several hedge funds have recently modified their holdings of GASS. Goldman Sachs Group Inc. increased its position in shares of StealthGas by 65.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 46,953 shares of the shipping company’s stock valued at $153,000 after purchasing an additional 18,495 shares during the period. State Street Corp grew its holdings in shares of StealthGas by 16.9% in the 2nd quarter. State Street Corp now owns 41,521 shares of the shipping company’s stock worth $135,000 after acquiring an additional 5,998 shares during the last quarter. Boston Partners grew its holdings in shares of StealthGas by 45.8% in the 3rd quarter. Boston Partners now owns 1,993,080 shares of the shipping company’s stock worth $6,597,000 after acquiring an additional 625,795 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of StealthGas by 79.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 969,813 shares of the shipping company’s stock worth $3,210,000 after acquiring an additional 430,400 shares during the last quarter. Finally, Macquarie Group Ltd. acquired a new position in shares of StealthGas in the 3rd quarter worth $352,000. Institutional investors own 63.44% of the company’s stock.

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About StealthGas

StealthGas Inc is a provider of international seaborne transportation services to liquefied petroleum gas (LPG) producers and users, as well as crude oil and product carriers to oil producers, refineries and commodities traders. The Company owns a fleet of LPG carriers. Its LPG carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of crude oil and natural gas.

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