StealthGas (NASDAQ:GASS) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of StealthGas (NASDAQ:GASS) from a strong-buy rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

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, ValuEngine lowered StealthGas from a hold rating to a sell rating in a report on Wednesday, October 7th.

Shares of StealthGas stock opened at $2.45 on Wednesday. The firm has a market cap of $92.75 million, a price-to-earnings ratio of 7.90 and a beta of 1.67. The stock’s 50-day moving average is $2.69 and its 200-day moving average is $2.55. StealthGas has a one year low of $1.51 and a one year high of $3.80. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.59 and a quick ratio of 0.55.

StealthGas (NASDAQ:GASS) last issued its quarterly earnings results on Friday, August 21st. The shipping company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.23. The company had revenue of $34.14 million for the quarter, compared to analyst estimates of $31.00 million. StealthGas had a return on equity of 2.60% and a net margin of 8.60%. On average, equities analysts expect that StealthGas will post 0.63 EPS for the current year.

A hedge fund recently raised its stake in StealthGas stock. Russell Investments Group Ltd. grew its position in StealthGas Inc. (NASDAQ:GASS) by 5.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,181,683 shares of the shipping company’s stock after purchasing an additional 162,755 shares during the quarter. Russell Investments Group Ltd. owned about 8.11% of StealthGas worth $8,841,000 as of its most recent SEC filing. 58.95% of the stock is owned by institutional investors.

StealthGas Company Profile

StealthGas Inc, together with its subsidiaries, provides seaborne transportation services to liquefied petroleum gas (LPG) producers and users internationally. 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.

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