StockNews.com Initiates Coverage on Adams Resources & Energy (NYSE:AE)

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

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

Adams Resources & Energy Stock Up 0.2 %

Shares of NYSE:AE opened at $37.30 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.17. The firm has a market cap of $96.01 million, a price-to-earnings ratio of -11.80 and a beta of 0.87. The stock’s 50-day moving average price is $32.91 and its two-hundred day moving average price is $28.11. Adams Resources & Energy has a 12-month low of $22.30 and a 12-month high of $37.90.

Adams Resources & Energy (NYSE:AE) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.76) earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 8.14% and a negative net margin of 0.29%. On average, research analysts forecast that Adams Resources & Energy will post -2.65 EPS for the current year.

Institutional Investors Weigh In On Adams Resources & Energy

Several institutional investors and hedge funds have recently modified their holdings of AE. Geode Capital Management LLC boosted its stake in shares of Adams Resources & Energy by 8.3% in the third quarter. Geode Capital Management LLC now owns 25,124 shares of the company’s stock valued at $679,000 after purchasing an additional 1,916 shares during the period. Round Hill Asset Management lifted its holdings in Adams Resources & Energy by 71.6% in the 3rd quarter. Round Hill Asset Management now owns 22,979 shares of the company’s stock worth $620,000 after buying an additional 9,587 shares in the last quarter. Wittenberg Investment Management Inc. boosted its position in Adams Resources & Energy by 1.6% in the 3rd quarter. Wittenberg Investment Management Inc. now owns 21,315 shares of the company’s stock valued at $576,000 after buying an additional 339 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Adams Resources & Energy by 117.1% during the third 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 in the last quarter. Finally, 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 valued at $501,000 after acquiring an additional 938 shares in the last quarter. Hedge funds and other institutional investors own 57.81% of the company’s stock.

About Adams Resources & Energy

Adams Resources & Energy, Inc, through its subsidiaries, primarily engages in the marketing, transportation, terminalling, and storage of crude oil and other related products in the United States. The company operates through four segments: Crude Oil Marketing, Transportation, Pipeline and Storage, and Logistics and Repurposing.