Zacks Investment Research Downgrades StealthGas (NASDAQ:GASS) to Hold

StealthGas (NASDAQ:GASS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, 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, TheStreet upgraded shares of StealthGas from a “d+” rating to a “c” rating in a research report on Wednesday, December 11th.

Shares of NASDAQ GASS opened at $2.01 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.15 and a current ratio of 1.18. StealthGas has a 52-week low of $1.51 and a 52-week high of $4.18. The firm has a 50 day moving average price of $2.53 and a two-hundred day moving average price of $3.13. The stock has a market cap of $79.85 million, a P/E ratio of 40.20 and a beta of 1.35.

StealthGas (NASDAQ:GASS) last announced its quarterly earnings results on Friday, February 21st. The shipping company reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.01. StealthGas had a net margin of 1.45% and a return on equity of 0.72%. The firm had revenue of $31.05 million during the quarter. Analysts predict that StealthGas will post 0.34 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of GASS. Virtu Financial LLC acquired a new stake in shares of StealthGas during the third quarter worth $33,000. Acadian Asset Management LLC increased its position in shares of StealthGas by 27.1% during the fourth quarter. Acadian Asset Management LLC now owns 44,695 shares of the shipping company’s stock worth $154,000 after buying an additional 9,534 shares during the period. State Street Corp increased its position in shares of StealthGas by 10.4% during the third quarter. State Street Corp now owns 75,726 shares of the shipping company’s stock worth $229,000 after buying an additional 7,133 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of StealthGas during the fourth quarter worth $534,000. Finally, Ruffer LLP acquired a new stake in shares of StealthGas during the fourth quarter worth $687,000. Institutional investors own 58.47% of the company’s stock.

About StealthGas

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.

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