Aegean Marine Petroleum Network Inc. (ANW) Given Average Recommendation of “Strong Buy” by Analysts

TIN news:  Aegean Marine Petroleum Network Inc. (NYSE:ANW) has earned a consensus broker rating score of 1.00 (Strong Buy) from the three brokers that cover the stock, Zacks Investment Research reports. Three research analysts have rated the stock with a strong buy rating. Aegean Marine Petroleum Network’s rating score has improved by 40.1% in the last 90 days as a result of various analysts’ upgrades and downgrades.

Brokers have set a one year consensus price objective of $16.67 for the company and are expecting that the company will post $0.36 earnings per share for the current quarter, according to Zacks. Zacks has also given Aegean Marine Petroleum Network an industry rank of 104 out of 265 based on the ratings given to related companies.

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A number of brokerages have recently issued reports on ANW. Zacks Investment Research raised Aegean Marine Petroleum Network from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Tuesday, March 7th. Clarkson Capital raised Aegean Marine Petroleum Network from a “neutral” rating to a “buy” rating in a research note on Friday, March 3rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $18.00 price target (up from $17.00) on shares of Aegean Marine Petroleum Network in a research note on Saturday, March 11th.

Several hedge funds have recently modified their holdings of the company. Two Sigma Securities LLC purchased a new stake in shares of Aegean Marine Petroleum Network during the third quarter worth about $119,000. Bayesian Capital Management LP raised its stake in shares of Aegean Marine Petroleum Network by 22.9% in the fourth quarter. Bayesian Capital Management LP now owns 13,400 shares of the oil and gas company’s stock worth $136,000 after buying an additional 2,500 shares in the last quarter. Boothbay Fund Management LLC raised its stake in shares of Aegean Marine Petroleum Network by 5.6% in the fourth quarter. Boothbay Fund Management LLC now owns 13,937 shares of the oil and gas company’s stock worth $141,000 after buying an additional 736 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Aegean Marine Petroleum Network during the first quarter worth about $152,000. Finally, Brandes Investment Partners LP raised its stake in shares of Aegean Marine Petroleum Network by 11.8% in the first quarter. Brandes Investment Partners LP now owns 13,339 shares of the oil and gas company’s stock worth $161,000 after buying an additional 1,407 shares in the last quarter. 70.50% of the stock is currently owned by hedge funds and other institutional investors.

Aegean Marine Petroleum Network traded up 2.4567% on Monday, reaching $10.6555. The company’s stock had a trading volume of 15,458 shares. The company has a market capitalization of $400.77 million, a price-to-earnings ratio of 9.3469 and a beta of 2.86. The firm has a 50-day moving average of $11.42 and a 200 day moving average of $10.70. Aegean Marine Petroleum Network has a 12-month low of $5.00 and a 12-month high of $13.10.

Aegean Marine Petroleum Network last issued its quarterly earnings results on Wednesday, March 1st. The oil and gas company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.02. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Aegean Marine Petroleum Network had a return on equity of 9.48% and a net margin of 1.20%. The business’s revenue was up 29.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. On average, equities research analysts anticipate that Aegean Marine Petroleum Network will post $1.64 EPS for the current fiscal year.