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

StockNews.com began coverage on shares of Adams Resources & Energy (NYSE:AE) in a research note published on Sunday morning. The brokerage issued a buy rating on the stock.

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

Adams Resources & Energy Price Performance

Shares of NYSE:AE opened at $37.98 on Friday. 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 1-year low of $22.30 and a 1-year high of $38.00. The firm’s 50 day simple moving average is $37.50 and its two-hundred day simple moving average is $30.91. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.04 and a quick ratio of 0.89.

Adams Resources & Energy (NYSE:AE) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($1.20). The business had revenue of $695.16 million for the quarter, compared to the consensus estimate 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 expect that Adams Resources & Energy will post -2.65 EPS for the current fiscal year.

Institutional Trading of Adams Resources & Energy

Several institutional investors have recently added to or reduced their stakes in AE. Wittenberg Investment Management Inc. grew 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 buying an additional 339 shares during the last quarter. Empowered Funds LLC grew its position in Adams Resources & Energy by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 18,542 shares of the company’s stock valued at $501,000 after acquiring an additional 938 shares during the last quarter. Barclays PLC increased its stake in Adams Resources & Energy by 118.5% in the third quarter. Barclays PLC now owns 1,934 shares of the company’s stock worth $52,000 after purchasing an additional 1,049 shares during the period. Bard Associates Inc. boosted its stake in shares of Adams Resources & Energy by 13.1% during the third quarter. Bard Associates Inc. now owns 12,438 shares of the company’s stock valued at $336,000 after purchasing an additional 1,443 shares during the period. Finally, Geode Capital Management LLC grew its holdings 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 worth $679,000 after purchasing an additional 1,916 shares during the last quarter. Institutional investors own 57.81% of the company’s stock.

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.