Trade Report: Today, Hornbeck Offshore Services (HOS) Raised to “Hold” at The Zacks Investment Research

Today, Hornbeck Offshore Services (HOS) Raised to “Hold” at The Zacks Investment Research

Hornbeck Offshore Services (NYSE:HOS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “Hornbeck Offshore provides technologically advanced, new generation OSVs serving the offshore oil and gas industry, primarily in the U.S. Gulf of Mexico and in select international markets. The focus of their OSV business is on complex exploration and production activities, which include deepwater, deep well and other logistically demanding projects. They also transport petroleum products through their tug and tank barge segment serving the energy industry, primarily in the northeastern United States and Puerto Rico. “

Other analysts have also recently issued reports about the company. Iberia Capital cut Hornbeck Offshore Services from a “sector perform” rating to an “underperform” rating in a research report on Friday, August 5th. Cowen and Company decreased their price objective on Hornbeck Offshore Services from $8.50 to $6.00 and set a “market perform” rating for the company in a research report on Thursday, October 6th. Finally, TheStreet cut Hornbeck Offshore Services from a “hold” rating to a “sell” rating in a research report on Wednesday, August 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Hornbeck Offshore Services presently has a consensus rating of “Hold” and an average target price of $9.79.

Shares of Hornbeck Offshore Services (NYSE:HOS) traded down 1.74% during mid-day trading on Tuesday, reaching $5.07. The company’s stock had a trading volume of 226,776 shares. The company’s 50 day moving average price is $5.04 and its 200-day moving average price is $6.81. The company’s market capitalization is $184.42 million. Hornbeck Offshore Services has a 1-year low of $3.00 and a 1-year high of $12.98.

Hornbeck Offshore Services (NYSE:HOS) last announced its earnings results on Wednesday, November 2nd. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.15. The firm earned $51.90 million during the quarter, compared to analysts’ expectations of $52.82 million. Hornbeck Offshore Services had a negative return on equity of 3.28% and a negative net margin of 17.43%. The business’s revenue was down 55.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 EPS. Analysts predict that Hornbeck Offshore Services will post ($1.81) earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of HOS. Price T Rowe Associates Inc. MD increased its position in Hornbeck Offshore Services by 153.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 80,800 shares of the company’s stock valued at $444,000 after buying an additional 48,900 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in Hornbeck Offshore Services during the third quarter valued at $134,000. Principal Financial Group Inc. increased its position in Hornbeck Offshore Services by 3.1% in the third quarter. Principal Financial Group Inc. now owns 234,024 shares of the company’s stock valued at $1,287,000 after buying an additional 7,106 shares during the last quarter. South Dakota Investment Council purchased a new position in Hornbeck Offshore Services during the third quarter valued at $493,000. Finally, California State Teachers Retirement System increased its position in Hornbeck Offshore Services by 0.9% in the third quarter. California State Teachers Retirement System now owns 68,813 shares of the company’s stock valued at $378,000 after buying an additional 600 shares during the last quarter.

Hornbeck Offshore Services Company Profile

Hornbeck Offshore Services Inc provides marine transportation, subsea installation and accommodation support services to exploration and production, oilfield service, offshore construction and the United States military customers. The Company focuses on providing marine solutions for the deepwater and ultradeepwater energy industry in domestic and select foreign locations.

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