Diamond S Shipping (NYSE:DSSI) Raised to “Strong-Buy” at Zacks Investment Research

Diamond S Shipping (NYSE:DSSI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday, Zacks.com reports. The firm presently has a $18.00 price objective on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 20.56% from the company’s previous close.

According to Zacks, “Diamond S Shipping Inc. provides seaborne transportation of crude oil, refined petroleum and other products in the international shipping markets. The company’s vessel operations are composed of two segments: Crude Tankers, which includes Suezmax vessels and an Aframax vessel, and Product Tankers, which includes medium range vessels. Diamond S Shipping Inc. is based in CT, United States. “

Other equities research analysts also recently issued reports about the stock. B. Riley set a $17.00 price objective on shares of Diamond S Shipping and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Jefferies Financial Group started coverage on shares of Diamond S Shipping in a research report on Thursday, October 10th. They issued a “buy” rating and a $19.00 price objective for the company. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Diamond S Shipping presently has a consensus rating of “Buy” and a consensus target price of $19.40.

DSSI stock traded down $0.36 during trading on Monday, reaching $14.93. The stock had a trading volume of 117,900 shares, compared to its average volume of 206,604. Diamond S Shipping has a one year low of $9.60 and a one year high of $16.48. The company has a current ratio of 0.99, a quick ratio of 0.79 and a debt-to-equity ratio of 0.67. The company’s 50 day moving average is $12.43 and its two-hundred day moving average is $12.19.

Diamond S Shipping (NYSE:DSSI) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.47) by $0.26. The firm had revenue of $149.30 million during the quarter, compared to the consensus estimate of $117.82 million. Research analysts anticipate that Diamond S Shipping will post 1.25 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in shares of Diamond S Shipping by 18.1% during the 2nd quarter. Royal Bank of Canada now owns 14,583 shares of the company’s stock valued at $186,000 after acquiring an additional 2,233 shares during the period. Strs Ohio bought a new position in shares of Diamond S Shipping during the 2nd quarter valued at approximately $75,000. Morgan Stanley bought a new position in shares of Diamond S Shipping during the 2nd quarter valued at approximately $105,000. Eagle Boston Investment Management Inc. bought a new position in shares of Diamond S Shipping during the 2nd quarter valued at approximately $144,000. Finally, Acadian Asset Management LLC grew its position in shares of Diamond S Shipping by 764.5% during the 2nd quarter. Acadian Asset Management LLC now owns 19,901 shares of the company’s stock valued at $254,000 after acquiring an additional 17,599 shares during the period. 63.87% of the stock is owned by hedge funds and other institutional investors.

About Diamond S Shipping

Diamond S Shipping Inc operates as a shipping company. The company operates through two segments, Crude Tankers and Product Tankers. It provides seaborne transportation of crude oil, refined petroleum, and other production. As of March 28, 2019, it owned and operated a fleet of 68 vessels, including 15 Suezmax vessels, 1 Aframax, and 52 medium-range product tankers.

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