Hornbeck Offshore Services (NYSE:HOS) Stock Rating Lowered by Wall Street Zen

Hornbeck Offshore Services (NYSE:HOS) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Wall Street Zen reports.

Hornbeck Offshore Services Stock Performance

Hornbeck Offshore Services stock opened at $5.24 on Monday. Hornbeck Offshore Services has a fifty-two week low of $5.14 and a fifty-two week high of $11.13. The firm has a market capitalization of $771.54 million, a price-to-earnings ratio of -18.70 and a beta of 1.31. The firm has a fifty day moving average price of $7.51. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.00 and a quick ratio of 3.47.

Hornbeck Offshore Services (NYSE:HOS) last released its quarterly earnings results on Monday, November 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.59). Hornbeck Offshore Services had a positive return on equity of 3.12% and a negative net margin of 5.58%. During the same period last year, the company posted $0.28 EPS. As a group, sell-side analysts forecast that Hornbeck Offshore Services will post 0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Hornbeck Offshore Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. acquired a new stake in shares of Hornbeck Offshore Services in the third quarter valued at approximately $15,012,000. Versant Capital Management Inc purchased a new position in shares of Hornbeck Offshore Services during the 3rd quarter worth approximately $37,000. Intech Investment Management LLC purchased a new position in shares of Hornbeck Offshore Services during the 3rd quarter worth approximately $212,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Hornbeck Offshore Services during the 3rd quarter worth approximately $505,000. Finally, Royce & Associates LP acquired a new position in shares of Hornbeck Offshore Services during the 3rd quarter worth approximately $3,703,000. Institutional investors and hedge funds own 91.33% of the company’s stock.

Hornbeck Offshore Services Company Profile

Hornbeck Offshore Services provides marine transportation and support services for the offshore oil and gas industry. Its fleet includes offshore supply vessels and multi-purpose support vessels that carry equipment and supplies, assist with construction and subsea work, and support exploration, development and production activities. Founded in 1997, the company has focused on serving deepwater and other demanding offshore operations. Its vessels and services support customers in the U.S. Gulf of Mexico and select international markets.