Adams Resources & Energy (NYSE:AE) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Adams Resources & Energy (NYSE:AE) in a research report issued on Sunday. The firm set a “buy” rating on the stock.

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

Adams Resources & Energy Price Performance

Shares of AE opened at $37.98 on Friday. The business’s 50-day moving average is $37.48 and its two-hundred day moving average is $30.84. The company has a market capitalization of $97.61 million, a P/E ratio of -12.02 and a beta of 0.83. Adams Resources & Energy has a fifty-two week low of $22.30 and a fifty-two week high of $38.00. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.89 and a current ratio of 1.04.

Adams Resources & Energy (NYSE:AE) last announced its quarterly earnings results 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). The company had revenue of $695.16 million for the quarter, compared to analysts’ expectations of $649.00 million. Adams Resources & Energy had a negative net margin of 0.29% and a negative return on equity of 8.14%. Research analysts predict that Adams Resources & Energy will post -2.65 earnings per share for the current year.

Hedge Funds Weigh In On Adams Resources & Energy

A number of hedge funds have recently made changes to their positions in the company. Bard Associates Inc. boosted its position in Adams Resources & Energy by 13.1% during the third quarter. Bard Associates Inc. now owns 12,438 shares of the company’s stock worth $336,000 after acquiring an additional 1,443 shares during the last quarter. Empowered Funds LLC lifted its stake in Adams Resources & Energy by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 18,542 shares of the company’s stock worth $501,000 after purchasing an additional 938 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of Adams Resources & Energy by 117.1% during the 3rd quarter. Cerity Partners LLC now owns 20,350 shares of the company’s stock worth $549,000 after purchasing an additional 10,977 shares during the last quarter. Round Hill Asset Management grew its position in shares of Adams Resources & Energy by 71.6% in the third quarter. Round Hill Asset Management now owns 22,979 shares of the company’s stock valued at $620,000 after purchasing an additional 9,587 shares in the last quarter. Finally, Wittenberg Investment Management Inc. increased its holdings in shares of Adams Resources & Energy by 1.6% in 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 during the last quarter. Institutional investors and hedge funds own 57.81% of the company’s stock.

About Adams Resources & Energy

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.