StealthGas (GASS) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of StealthGas (NASDAQ:GASS) from a buy rating to a hold rating in a report released on Wednesday morning.

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. “

A number of other analysts have also commented on GASS. ValuEngine lowered StealthGas from a buy rating to a hold rating in a research note on Monday, August 13th. Maxim Group initiated coverage on StealthGas in a research report on Thursday, October 25th. They set a buy rating and a $6.00 target price on the stock. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $5.58.

Shares of GASS traded down $0.05 during trading hours on Wednesday, reaching $3.41. 33,374 shares of the company traded hands, compared to its average volume of 102,936. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 0.74. The firm has a market cap of $137.52 million, a P/E ratio of 24.36 and a beta of 1.27. StealthGas has a fifty-two week low of $3.25 and a fifty-two week high of $4.70.

StealthGas (NASDAQ:GASS) last posted its quarterly earnings data on Thursday, August 23rd. The shipping company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.07. The business had revenue of $43.38 million for the quarter, compared to analyst estimates of $37.32 million. StealthGas had a positive return on equity of 0.60% and a negative net margin of 4.80%. As a group, equities analysts expect that StealthGas will post 0.16 EPS for the current fiscal year.

In other StealthGas news, major shareholder Glendon Capital Management Lp bought 92,000 shares of StealthGas stock in a transaction that occurred on Tuesday, October 23rd. The shares were purchased at an average cost of $3.48 per share, for a total transaction of $320,160.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased 1,673,746 shares of company stock worth $5,760,306 over the last quarter.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC lifted its position in StealthGas by 132.4% during the second quarter. Acadian Asset Management LLC now owns 50,836 shares of the shipping company’s stock worth $202,000 after buying an additional 28,960 shares during the period. Macquarie Group Ltd. lifted its position in StealthGas by 26.4% during the second quarter. Macquarie Group Ltd. now owns 68,157 shares of the shipping company’s stock worth $271,000 after buying an additional 14,240 shares during the period. Towerview LLC lifted its position in StealthGas by 10.8% during the third quarter. Towerview LLC now owns 360,000 shares of the shipping company’s stock worth $1,282,000 after buying an additional 35,000 shares during the period. Massachusetts Financial Services Co. MA lifted its position in StealthGas by 1.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,654,026 shares of the shipping company’s stock worth $6,566,000 after buying an additional 22,868 shares during the period. Finally, Renaissance Technologies LLC lifted its position in StealthGas by 8.6% during the second quarter. Renaissance Technologies LLC now owns 1,886,688 shares of the shipping company’s stock worth $7,490,000 after buying an additional 148,888 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

About StealthGas

StealthGas Inc, together with its subsidiaries, provides seaborne transportation services to liquefied petroleum gas (LPG) producers and users worldwide. It also provides crude oil and product carriers chartered to oil producers, refiners, and commodities traders. The company's carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer; and refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel, as well as edible oils and chemicals.

Recommended Story: The Role of a Fiduciary and Individual Investors

Get a free copy of the Zacks research report on StealthGas (GASS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for StealthGas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for StealthGas and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply