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

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

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

Adams Resources & Energy Price Performance

Shares of NYSE AE opened at $37.31 on Wednesday. The company has a 50 day simple moving average of $35.30 and a two-hundred day simple moving average of $29.00. Adams Resources & Energy has a fifty-two week low of $22.30 and a fifty-two week high of $37.90. The company has a market capitalization of $96.04 million, a price-to-earnings ratio of -11.81 and a beta of 0.84. 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 posted its quarterly earnings data 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). Adams Resources & Energy had a negative net margin of 0.29% and a negative return on equity of 8.14%. The company had revenue of $695.16 million for the quarter, compared to the consensus estimate of $649.00 million. Analysts expect that Adams Resources & Energy will post -2.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AE. Cerity Partners LLC boosted its holdings in Adams Resources & Energy by 117.1% in the third 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. Empowered Funds LLC lifted its holdings in shares of Adams Resources & Energy by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 18,542 shares of the company’s stock valued at $501,000 after buying an additional 938 shares during the period. Wittenberg Investment Management Inc. boosted its stake in shares of Adams Resources & Energy by 1.6% in the 3rd quarter. Wittenberg Investment Management Inc. now owns 21,315 shares of the company’s stock worth $576,000 after buying an additional 339 shares during the last quarter. Round Hill Asset Management grew its holdings 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 worth $620,000 after acquiring an additional 9,587 shares during the period. Finally, Bard Associates Inc. grew its holdings in shares of Adams Resources & Energy by 13.1% in 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 period. 57.81% of the stock is owned by institutional investors.

Adams Resources & Energy Company Profile

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.