Euronav (EURN) Upgraded to “Overweight” by Morgan Stanley

Euronav (NYSE:EURN) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Monday, February 12th, MarketBeat Ratings reports. The brokerage currently has a $10.00 price objective on the shipping company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 19.76% from the company’s previous close.

EURN has been the subject of a number of other research reports. Zacks Investment Research lowered Euronav from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. TheStreet lowered Euronav from a “c-” rating to a “d+” rating in a report on Tuesday, November 14th. UBS Group upped their target price on Euronav from $8.75 to $9.25 and gave the stock a “neutral” rating in a report on Friday, January 26th. Stifel Nicolaus set a $9.00 price objective on Euronav and gave the company a “hold” rating in a report on Friday, December 22nd. Finally, Deutsche Bank set a $10.00 price objective on Euronav and gave the company a “buy” rating in a report on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $9.35.

Euronav (EURN) opened at $8.35 on Monday. The company has a market capitalization of $1,329.40, a P/E ratio of 835.84 and a beta of 0.56. Euronav has a 52 week low of $6.90 and a 52 week high of $9.65.

Institutional investors and hedge funds have recently made changes to their positions in the business. Jefferies Group LLC acquired a new stake in Euronav during the 4th quarter worth about $163,000. Macquarie Group Ltd. acquired a new stake in Euronav during the 4th quarter worth about $190,000. Impala Asset Management LLC acquired a new stake in Euronav during the 4th quarter worth about $687,000. Dimensional Fund Advisors LP grew its position in Euronav by 20.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 95,432 shares of the shipping company’s stock worth $773,000 after purchasing an additional 16,120 shares during the period. Finally, Two Sigma Investments LP acquired a new stake in Euronav during the 4th quarter worth about $894,000. 22.95% of the stock is currently owned by institutional investors.

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About Euronav

Euronav NV, together with its subsidiaries, owns, operates, and manages a fleet of vessels for the ocean transportation and storage of crude oil and petroleum products worldwide. The company operates through two segments, Tankers; and Floating Production, Storage, and Offloading Operations. As of April 4, 2017, it owned and operated a fleet of 55 double hulled vessels, including 31 very large crude carriers, 1 V-Plus vessel, 19 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 2 Suezmax vessels under construction.

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