GasLog (GLOG) Downgraded by Morgan Stanley
GasLog (NYSE:GLOG) was downgraded by investment analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report released on Monday, MarketBeat Ratings reports. They currently have a $20.00 price objective on the shipping company’s stock. Morgan Stanley’s price target suggests a potential upside of 6.38% from the stock’s previous close. The analysts noted that the move was a valuation call.
GLOG has been the subject of a number of other reports. Zacks Investment Research upgraded GasLog from a “sell” rating to a “hold” rating in a report on Monday, October 16th. Jefferies Group assumed coverage on GasLog in a report on Monday, December 18th. They set a “buy” rating and a $20.00 price target for the company. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $19.00 price target on shares of GasLog in a report on Friday, November 3rd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $19.73.
GasLog (GLOG) traded up $0.40 during midday trading on Monday, reaching $18.80. The company had a trading volume of 195,604 shares, compared to its average volume of 451,417. The firm has a market capitalization of $1,483.96, a P/E ratio of 52.57 and a beta of 1.14. GasLog has a 1-year low of $12.75 and a 1-year high of $22.55. The company has a quick ratio of 1.41, a current ratio of 1.45 and a debt-to-equity ratio of 1.48.
GasLog Ltd. is an international owner, operator and manager of liquefied natural gas (LNG) carriers. The Company provides support to international energy companies as part of their LNG logistics chain. The Company’s owned consolidated fleet consists of 27 LNG carriers, including 22 ships in operation and five LNG carriers on order.
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