Adams Resources & Energy (NYSE:AE) Earns Buy Rating from Analysts at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Adams Resources & Energy (NYSE:AE) in a note issued to investors on Saturday. The firm set a “buy” rating on the stock.

Separately, B. Riley reissued a “neutral” rating and issued a $38.00 target price (down from $45.00) on shares of Adams Resources & Energy in a research report on Wednesday, November 13th.

Adams Resources & Energy Price Performance

Shares of Adams Resources & Energy stock opened at $37.95 on Friday. The business has a 50-day moving average price of $37.41 and a 200 day moving average price of $30.42. Adams Resources & Energy has a fifty-two week low of $22.30 and a fifty-two week high of $38.00. The firm has a market cap of $97.68 million, a P/E ratio of -12.01 and a beta of 0.84. The company has a quick ratio of 0.89, a current ratio of 1.04 and a debt-to-equity ratio of 0.17.

Adams Resources & Energy (NYSE:AE) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.76) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($1.20). Adams Resources & Energy had a negative net margin of 0.29% and a negative return on equity of 8.14%. The firm had revenue of $695.16 million during the quarter, compared to the consensus estimate of $649.00 million. On average, sell-side analysts forecast that Adams Resources & Energy will post -2.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC raised its holdings in Adams Resources & Energy by 118.5% in the 3rd quarter. Barclays PLC now owns 1,934 shares of the company’s stock valued at $52,000 after acquiring an additional 1,049 shares in the last quarter. Bard Associates Inc. boosted its position in Adams Resources & Energy by 13.1% in the third quarter. Bard Associates Inc. now owns 12,438 shares of the company’s stock valued at $336,000 after buying an additional 1,443 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Adams Resources & Energy by 5.3% during the third quarter. Empowered Funds LLC now owns 18,542 shares of the company’s stock worth $501,000 after buying an additional 938 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Adams Resources & Energy by 117.1% in the 3rd quarter. Cerity Partners LLC now owns 20,350 shares of the company’s stock valued at $549,000 after acquiring an additional 10,977 shares during the last quarter. Finally, Wittenberg Investment Management Inc. boosted its stake in shares of Adams Resources & Energy by 1.6% during the third quarter. Wittenberg Investment Management Inc. now owns 21,315 shares of the company’s stock valued at $576,000 after purchasing an additional 339 shares in the last quarter. 57.81% of the stock is owned by institutional investors and hedge funds.

Adams Resources & Energy Company Profile

Adams Resources & Energy, Inc engages in the business of crude oil marketing, transportation and storage in various crude oil and natural gas basins. It operates through the following segments: crude oil marketing, transportation and storage, tank truck transportation of liquid chemicals, pressurized gases, asphalt and dry bulk, and pipeline transportation, terminalling and storage of crude oil.