Safe Bulkers, Inc. (NYSE:SB)’s share price traded down 0.8% on Thursday . The stock traded as low as $3.60 and last traded at $3.65. 362,351 shares traded hands during trading, a decline of 23% from the average session volume of 473,060 shares. The stock had previously closed at $3.68.
Several equities analysts have weighed in on the company. Stifel Nicolaus set a $3.00 price target on Safe Bulkers and gave the company a “hold” rating in a report on Thursday, February 15th. Morgan Stanley cut Safe Bulkers from an “overweight” rating to an “equal weight” rating and set a $4.00 price target for the company. in a report on Monday, February 12th. ValuEngine cut Safe Bulkers from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Zacks Investment Research upgraded Safe Bulkers from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a report on Thursday, January 25th. Finally, Maxim Group reiterated a “buy” rating and issued a $5.50 target price (up previously from $5.00) on shares of Safe Bulkers in a report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Safe Bulkers presently has a consensus rating of “Hold” and a consensus target price of $3.71.
The company has a debt-to-equity ratio of 1.19, a current ratio of 2.14 and a quick ratio of 2.28. The company has a market capitalization of $376.70, a price-to-earnings ratio of -3.82 and a beta of 1.98.
A number of hedge funds and other institutional investors have recently bought and sold shares of SB. Schwab Charles Investment Management Inc. bought a new stake in Safe Bulkers during the second quarter worth $190,000. Teachers Advisors LLC bought a new stake in Safe Bulkers during the second quarter worth $214,000. TIAA CREF Investment Management LLC bought a new stake in Safe Bulkers during the second quarter worth $292,000. New York State Common Retirement Fund bought a new stake in Safe Bulkers during the second quarter worth $117,000. Finally, Northern Trust Corp bought a new stake in Safe Bulkers during the second quarter worth $943,000. 22.42% of the stock is currently owned by hedge funds and other institutional investors.
Safe Bulkers Company Profile
Safe Bulkers, Inc is a holding company. The Company’s principal business is the acquisition, ownership and operation of drybulk vessels. The Company’s vessels operate across the world, carrying drybulk cargo for the consumers of marine drybulk transportation services. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along shipping routes across the world.
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