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

Zacks Investment Research upgraded shares of Diamond S Shipping (NYSE:DSSI) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday, Zacks.com reports. They currently have $17.00 price target on the stock.

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. “

Separately, Jefferies Financial Group began coverage on Diamond S Shipping in a research report on Thursday, October 10th. They set a buy rating and a $19.00 price objective for the company. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $19.20.

Shares of NYSE DSSI traded up $0.20 during midday trading on Tuesday, hitting $13.88. 10,284 shares of the company’s stock were exchanged, compared to its average volume of 541,749. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.81 and a current ratio of 0.98. The stock’s 50 day moving average price is $15.52 and its 200-day moving average price is $13.41. Diamond S Shipping has a twelve month low of $9.60 and a twelve month high of $17.50.

Diamond S Shipping (NYSE:DSSI) last issued its quarterly earnings data on Wednesday, November 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.06). The firm had revenue of $141.53 million during the quarter, compared to analyst estimates of $153.06 million. On average, equities research analysts forecast that Diamond S Shipping will post 0.65 EPS for the current year.

In other Diamond S Shipping news, major shareholder Recovery Fund Iv Dss Aiv Wlr sold 99,130 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $14.47, for a total value of $1,434,411.10. Also, major shareholder Reserve Gp Xii Ltd First sold 3,950,681 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $13.75, for a total value of $54,321,863.75. The disclosure for this sale can be found here. Insiders sold 4,710,681 shares of company stock valued at $64,664,802 over the last 90 days.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System increased its holdings in shares of Diamond S Shipping by 2.5% in the third quarter. California State Teachers Retirement System now owns 34,680 shares of the company’s stock valued at $382,000 after buying an additional 849 shares in the last quarter. California Public Employees Retirement System raised its stake in Diamond S Shipping by 4.9% during the 3rd quarter. California Public Employees Retirement System now owns 30,687 shares of the company’s stock valued at $338,000 after purchasing an additional 1,425 shares during the period. Royal Bank of Canada raised its stake in 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 purchasing an additional 2,233 shares during the period. Rhumbline Advisers raised its stake in Diamond S Shipping by 16.1% during the 3rd quarter. Rhumbline Advisers now owns 25,940 shares of the company’s stock valued at $286,000 after purchasing an additional 3,603 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in Diamond S Shipping by 610.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,575 shares of the company’s stock valued at $73,000 after purchasing an additional 5,650 shares during the period. 65.22% of the stock is currently owned by institutional investors.

Diamond S Shipping Company Profile

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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