Acquiring New Vessels Helps Hornbeck Grow

Hornbeck Offshore Services HOS emerged from a three-month cup base as it reached a new high in early November. The stock then pulled back gently to start the left side of a new basing pattern.
It cleared the buy point 18om a double-bottom base in late February, but turned south yet again under market pressure.
Hornbeck has since found support at its 40-week average and made its way back up to just 7% off its high.
The Louisiana-based provider of offshore supply vessels to the oil and gas industry stepped up profit growth the past two quarters from 11% to 27% and 67%. Analysts expect a slowdown to 39% in Q1.
Sales growth also accelerated the past two quarters, rising from 6% to 22% and 55%. Wall Street forecasts call for 52% growth in Q1.
Hornbeck primarily serves the northeastern and , and some international markets. It also provides petroleum transportation services.
It keeps expanding by acquiring or building new vessels. So far this year Hornbeck has bought a multipurpose supply vessel, and has contracted for the construction of two new vessels.

Source:  Newstex