SEASPAN CORP/SH SH (NYSE:SSW) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, February 4th.
A number of other research firms have also recently weighed in on SSW. Zacks Investment Research cut SEASPAN CORP/SH SH from a “hold” rating to a “sell” rating in a research report on Wednesday, October 31st. Seaport Global Securities set a $12.00 price objective on SEASPAN CORP/SH SH and gave the stock a “buy” rating in a research report on Tuesday, November 20th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $8.17.
Shares of SSW traded up $0.03 during mid-day trading on Monday, reaching $8.83. The company’s stock had a trading volume of 629,736 shares, compared to its average volume of 516,877. The company has a market cap of $1.59 billion, a P/E ratio of 13.38, a PEG ratio of 0.57 and a beta of 0.69. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.51 and a current ratio of 0.51. SEASPAN CORP/SH SH has a 12-month low of $5.50 and a 12-month high of $10.72.
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in SEASPAN CORP/SH SH by 30.4% during the fourth quarter. BlackRock Inc. now owns 3,088,699 shares of the shipping company’s stock worth $24,184,000 after buying an additional 719,762 shares in the last quarter. Morgan Stanley lifted its stake in shares of SEASPAN CORP/SH SH by 8.5% during the third quarter. Morgan Stanley now owns 1,484,269 shares of the shipping company’s stock worth $12,364,000 after purchasing an additional 115,796 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of SEASPAN CORP/SH SH by 155.3% during the third quarter. Wells Fargo & Company MN now owns 979,821 shares of the shipping company’s stock worth $8,162,000 after purchasing an additional 596,062 shares in the last quarter. DDD Partners LLC lifted its stake in shares of SEASPAN CORP/SH SH by 24.2% during the fourth quarter. DDD Partners LLC now owns 665,670 shares of the shipping company’s stock worth $5,212,000 after purchasing an additional 129,850 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of SEASPAN CORP/SH SH by 1,373.5% during the second quarter. Bank of America Corp DE now owns 652,592 shares of the shipping company’s stock worth $6,643,000 after purchasing an additional 608,303 shares in the last quarter. 49.03% of the stock is owned by institutional investors.
SEASPAN CORP/SH SH Company Profile
Seaspan Corporation operates as an independent charter owner and manager of containerships in Hong Kong. The company charters its containerships under long-term, fixed-rate time charters to various container liner companies. As of February 15, 2018, it operated a fleet of 91 containerships. The company was founded in 2005 and is based in Hong Kong, Hong Kong.
Featured Article: What is insider trading?
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for SEASPAN CORP/SH SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SEASPAN CORP/SH SH and related companies with MarketBeat.com's FREE daily email newsletter.