Drewry Financial analyst Victoria Saraglis downgraded StealthGas (NASDAQ: GASS) to Hold today and set a price target of $4.50. The company’s shares closed on Friday at $4.05.
Saraglis observed:
“Earnings in the second quarter are expected to face the weak aftermath of a seasonally strong first quarter, coupled with unfavourable cost dynamics and thus, we have lowered our expectations for the stock. We have reduced the fair value of the stock from USD 5.3 per share to USD 4.5 per share, and thereby downgraded the rating of the stock from Attractive to Neutral. We still believe that the coaster segment will continue to outperform other vessel segments in the LPG shipping market, however the relative outperformance is likely to reduce particularly in the seasonally weak second quarter.”
StealthGas has an analyst consensus of Hold.
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The company has a one-year high of $4.70 and a one-year low of $2.90. Currently, StealthGas has an average volume of 38.1K.
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StealthGas, Inc. engages in the provision of international energy seaborne transportation services to liquefied petroleum gas sectors. Its owns fleet of vessels that carry petroleum and petrochemical gas products in liquefied form such as propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer.
