Navios Maritime (NYSE:NM) Upgraded to Buy by Zacks Investment Research

Navios Maritime (NYSE:NM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, January 17th. The brokerage presently has a $1.50 target price on the shipping company’s stock. Zacks Investment Research‘s price target points to a potential upside of 25.00% from the company’s current price.

According to Zacks, “Navios Maritime Holdings Inc. is a seaborne shipping and logistics company engaged in the transport and transshipment of drybulk commodities including iron ore, coal and grain. It operates in three segments: Drybulk Vessel Operations, Tanker Vessel Operations and Logistics Business. The Company also engages in operating ports and transfer station terminals and handles vessels, barges, and push boats, as well as operates upriver transport facilities in the Hidrovia region. Navios Maritime Holdings Inc. is headquartered in Piraeus, Greece. “

Several other brokerages have also recently weighed in on NM. Clarkson Capital cut shares of Navios Maritime from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 17th. Jefferies Group assumed coverage on shares of Navios Maritime in a research report on Monday, December 18th. They set a “buy” rating and a $2.00 price objective on the stock. Finally, ValuEngine lowered shares of Navios Maritime from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 14th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $1.58.

Navios Maritime (NM) traded down $0.01 on Wednesday, hitting $1.20. 690,715 shares of the company were exchanged, compared to its average volume of 579,468. The company has a current ratio of 1.02, a quick ratio of 0.91 and a debt-to-equity ratio of 2.32. Navios Maritime has a one year low of $0.95 and a one year high of $2.26.

Navios Maritime (NYSE:NM) last issued its quarterly earnings results on Tuesday, November 21st. The shipping company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.04). Navios Maritime had a negative net margin of 21.39% and a negative return on equity of 17.18%. The firm had revenue of $120.60 million for the quarter, compared to analysts’ expectations of $138.00 million. During the same period in the prior year, the firm earned ($0.25) EPS. Navios Maritime’s revenue for the quarter was up 6.6% compared to the same quarter last year. equities research analysts predict that Navios Maritime will post -1.03 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers purchased a new stake in Navios Maritime in the second quarter worth about $107,000. New York State Common Retirement Fund purchased a new stake in Navios Maritime in the second quarter worth about $131,000. Apriem Advisors lifted its stake in Navios Maritime by 53.8% in the third quarter. Apriem Advisors now owns 100,000 shares of the shipping company’s stock worth $167,000 after acquiring an additional 35,000 shares during the period. SG Americas Securities LLC lifted its stake in Navios Maritime by 729.2% in the fourth quarter. SG Americas Securities LLC now owns 121,229 shares of the shipping company’s stock worth $145,000 after acquiring an additional 106,609 shares during the period. Finally, California State Teachers Retirement System purchased a new stake in Navios Maritime in the second quarter worth about $218,000. 19.65% of the stock is owned by institutional investors.

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About Navios Maritime

Navios Maritime Holdings Inc (Navios Holdings) is a global, vertically integrated seaborne shipping and logistics company. The Company is focused on the transport and transshipment of dry bulk commodities, including iron ore, coal and grain. It operates through two segments: the Dry bulk Vessel Operations and the Logistics Business.

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