Diamond S Shipping (NYSE:DSSI) Upgraded to Strong-Buy by Zacks Investment Research

Diamond S Shipping (NYSE:DSSI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday, Zacks.com reports. The brokerage presently has a $17.00 target price on the stock. Zacks Investment Research‘s price target indicates a potential upside of 16.44% from the stock’s previous close.

According to Zacks, “Diamond S Shipping Inc. provides seaborne transportation of crude oil, refined petroleum and other products in the international shipping markets. The company’s vessel operations are composed of two segments: Crude Tankers, which includes Suezmax vessels and an Aframax vessel, and Product Tankers, which includes medium range vessels. Diamond S Shipping Inc. is based in CT, United States. “

Separately, Jefferies Financial Group assumed coverage on shares of Diamond S Shipping in a research note on Thursday, October 10th. They issued a “buy” rating and a $19.00 target price on the stock. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $19.20.

Shares of Diamond S Shipping stock traded down $0.57 during midday trading on Tuesday, reaching $14.60. 668,400 shares of the company’s stock traded hands, compared to its average volume of 483,589. The company’s 50 day simple moving average is $15.54 and its 200 day simple moving average is $13.40. The company has a quick ratio of 0.81, a current ratio of 0.98 and a debt-to-equity ratio of 0.65. Diamond S Shipping has a 52 week low of $9.60 and a 52 week high of $17.50.

Diamond S Shipping (NYSE:DSSI) last posted its earnings results on Wednesday, November 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). The company had revenue of $141.53 million for the quarter, compared to analyst estimates of $153.06 million. Sell-side analysts forecast that Diamond S Shipping will post 0.65 earnings per share for the current fiscal year.

In related news, major shareholder Reserve Gp Xii Ltd First sold 3,950,681 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $13.75, for a total value of $54,321,863.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Recovery Fund Iv Dss Aiv Wlr sold 99,130 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $14.47, for a total transaction of $1,434,411.10. Insiders sold a total of 4,710,681 shares of company stock worth $64,664,802 over the last quarter.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. acquired a new stake in Diamond S Shipping in the 2nd quarter worth $634,000. California State Teachers Retirement System grew its position in Diamond S Shipping by 2.5% in the 3rd quarter. California State Teachers Retirement System now owns 34,680 shares of the company’s stock worth $382,000 after purchasing an additional 849 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Diamond S Shipping in the 3rd quarter worth $115,000. Morgan Stanley acquired a new stake in Diamond S Shipping in the 2nd quarter worth $105,000. Finally, Donald Smith & CO. Inc. grew its position in Diamond S Shipping by 39.5% in the 3rd quarter. Donald Smith & CO. Inc. now owns 833,338 shares of the company’s stock worth $9,183,000 after purchasing an additional 235,954 shares during the last quarter. Institutional investors own 65.22% of the company’s stock.

About Diamond S Shipping

Diamond S Shipping Inc operates as a shipping company. The company operates through two segments, Crude Tankers and Product Tankers. It provides seaborne transportation of crude oil, refined petroleum, and other production. As of March 28, 2019, it owned and operated a fleet of 68 vessels, including 15 Suezmax vessels, 1 Aframax, and 52 medium-range product tankers.

Read More: Growth Stocks

Get a free copy of the Zacks research report on Diamond S Shipping (DSSI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Diamond S Shipping Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamond S Shipping and related companies with MarketBeat.com's FREE daily email newsletter.