Diamond S Shipping (NYSE:DSSI) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of Diamond S Shipping (NYSE:DSSI) from a buy rating to a hold rating in a research note issued to investors on Monday morning, Zacks.com reports.

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. “

A number of other research analysts also recently commented on DSSI. Jefferies Financial Group started coverage on shares of Diamond S Shipping in a research report on Thursday, October 10th. They issued a buy rating and a $19.00 target price on the stock. B. Riley set a $17.00 target price on shares of Diamond S Shipping and gave the company a buy rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Diamond S Shipping currently has an average rating of Buy and a consensus price target of $19.40.

Shares of NYSE DSSI traded up $0.09 during mid-day trading on Monday, reaching $14.94. The company had a trading volume of 227,062 shares, compared to its average volume of 208,096. The company has a current ratio of 0.98, a quick ratio of 0.81 and a debt-to-equity ratio of 0.65. The firm has a 50 day simple moving average of $14.61 and a two-hundred day simple moving average of $12.54. Diamond S Shipping has a 52-week low of $9.60 and a 52-week high of $16.60.

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

A number of large investors have recently modified their holdings of the stock. California Public Employees Retirement System boosted its stake in Diamond S Shipping by 4.9% during the 3rd quarter. California Public Employees Retirement System now owns 30,687 shares of the company’s stock worth $338,000 after purchasing an additional 1,425 shares during the period. Royal Bank of Canada lifted its stake in shares of Diamond S Shipping by 18.1% in the 2nd quarter. Royal Bank of Canada now owns 14,583 shares of the company’s stock worth $186,000 after acquiring an additional 2,233 shares during the period. Rhumbline Advisers lifted its stake in shares of Diamond S Shipping by 16.1% in the 3rd quarter. Rhumbline Advisers now owns 25,940 shares of the company’s stock worth $286,000 after acquiring an additional 3,603 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Diamond S Shipping by 610.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,575 shares of the company’s stock worth $73,000 after acquiring an additional 5,650 shares during the period. Finally, Strs Ohio acquired a new stake in shares of Diamond S Shipping in the 2nd quarter worth $75,000. Hedge funds and other institutional investors own 62.22% of the company’s stock.

Diamond S Shipping Company Profile

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.

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