StealthGas (GASS) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of StealthGas (NASDAQ:GASS) from a buy rating to a sell rating in a research note published on Wednesday.

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. “

Several other research analysts have also recently commented on GASS. Maxim Group reaffirmed a buy rating and issued a $6.00 target price on shares of StealthGas in a research report on Friday, November 23rd. ValuEngine cut StealthGas from a buy rating to a hold rating in a research report on Thursday, January 24th.

Shares of StealthGas stock opened at $3.25 on Wednesday. The firm has a market capitalization of $131.94 million, a PE ratio of 331.00 and a beta of 1.58. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.02 and a current ratio of 1.07. StealthGas has a 1 year low of $2.73 and a 1 year high of $4.44.

StealthGas (NASDAQ:GASS) last announced its quarterly earnings data on Thursday, February 21st. The shipping company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.08). The company had revenue of $34.02 million during the quarter, compared to analyst estimates of $35.61 million. StealthGas had a positive return on equity of 0.03% and a negative net margin of 7.47%. On average, sell-side analysts anticipate that StealthGas will post 0.17 earnings per share for the current year.

In other news, major shareholder Glendon Capital Management Lp bought 50,000 shares of StealthGas stock in a transaction that occurred on Thursday, February 28th. The stock was purchased at an average cost of $3.29 per share, with a total value of $164,500.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders purchased 164,283 shares of company stock valued at $545,853.

Hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its position in StealthGas by 3.8% in the third quarter. Russell Investments Group Ltd. now owns 2,382,724 shares of the shipping company’s stock worth $8,483,000 after purchasing an additional 87,910 shares during the period. Towerview LLC lifted its holdings in shares of StealthGas by 34.7% during the fourth quarter. Towerview LLC now owns 485,000 shares of the shipping company’s stock valued at $1,339,000 after acquiring an additional 125,000 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of StealthGas by 1.9% during the third quarter. Renaissance Technologies LLC now owns 1,922,000 shares of the shipping company’s stock valued at $6,842,000 after acquiring an additional 35,312 shares during the period. Millennium Management LLC bought a new position in shares of StealthGas during the fourth quarter valued at $41,000. Finally, Geode Capital Management LLC lifted its holdings in shares of StealthGas by 71.5% during the fourth quarter. Geode Capital Management LLC now owns 29,544 shares of the shipping company’s stock valued at $81,000 after acquiring an additional 12,321 shares during the period. 58.68% of the stock is owned by hedge funds and other institutional investors.

StealthGas Company Profile

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.

Further Reading: Limitations of the P/E Growth ratio

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