Jefferies Thinks Gaslog’s Stock is Going to Recover

In a report issued on August 5, Randy Giveans from Jefferies maintained a Buy rating on Gaslog (GLOGResearch Report), with a price target of $5.00. The company’s shares closed last Friday at $3.19, close to its 52-week low of $2.55.

According to TipRanks.com, Giveans ‘ ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -14.6% and a 28.4% success rate. Giveans covers the Services sector, focusing on stocks such as Navios Maritime Partners, Nordic American Tanker, and International Seaways.

The word on The Street in general, suggests a Hold analyst consensus rating for Gaslog with a $3.99 average price target.

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Based on Gaslog’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $159 million and GAAP net loss of $21.35 million. In comparison, last year the company earned revenue of $154 million and had a GAAP net loss of $26 million.

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GasLog Ltd. is engaged in the ownership, operation and management of vessels in the LNG market, providing maritime services for the transportation of LNG and LNG vessel management services. It operates its business through its subsidiary GasLog LNG Services Ltd., which provides vessel management services, including crewing, training, maintenance, regulatory and classification compliance and health, safety, security and environment. The company was founded on July 16, 2003 and is headquartered in Monaco.