Brokerage Firm Rating Update on Seaspan Corporation (SSW)

Seaspan Corporation (SSW) has an average broker rating of 3.38, which is interpreted as a Hold, as rated by 8 equity analysts. Nonetheless, 1 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Nevertheless, the majority of 4 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold. 2 brokerage firm advices Strong Sell on the share due to lack of confidence about the future of the company. 1 considers that the stock is a Sell.

Seaspan Corporation (SSW) stock is expected to deviate a maximum of $5.15 from the average target price of $16 for the short term period. 5 Street Experts have initiated coverage on the stock with the most promising target being $25 and the most muted being $12.


Company shares have received an average consensus rating of Hold for the current week

Seaspan Corporation (NYSE:SSW): The stock opened at $13.86 and touched an intraday high of $13.98 on Wednesday. During the day, the stock corrected to an intraday low of $13.78, however, the bulls stepped in and pushed the price higher to close in the green at $13.96 with a gain of 0.72% for the day. The total traded volume for the day was 747,047. The stock had closed at $13.86 in the previous trading session.

Seaspan Corporation is an independent charter owner and manager of containerships. The Company charters primarily pursuant to long-term, fixed-rate time charters with various container liner companies. As of February 28, 2015, the Company operated a fleet of 77 containerships and had contracts for the purchase of an additional 13 newly-built containerships, which have scheduled delivery dates through October 2016. The Companys customers primarily include COSCON, CSCL Asia, HL USA, Hanjin, Hapag-Lloyd, K-Line, MSC, MOL, Norasia, OOCL, Maersk and Yang Ming Marine. The Companys four 4800 TEU vessels are chartered by MSC under bareboat charters, which are contracts for the use of a vessel for a fixed period of time at a specified amount. The Company also provides limited ship management services to Dennis R. Washingtons personal vessel owning companies and ship management and construction supervision services to GCI.

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