Safe Bulkers (NYSE:SB) Stock Rating Upgraded by DNB Markets

Safe Bulkers (NYSE:SB) was upgraded by stock analysts at DNB Markets from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The firm presently has a $4.20 target price on the shipping company’s stock. DNB Markets’ price objective would suggest a potential upside of 23.75% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. StockNews.com upgraded Safe Bulkers from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Jefferies Financial Group restated a “buy” rating and issued a $6.00 price objective on shares of Safe Bulkers in a report on Thursday, November 14th.

Safe Bulkers Stock Down 0.5 %

SB stock opened at $3.39 on Monday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.52. The business’s 50-day simple moving average is $3.69 and its 200 day simple moving average is $4.44. The company has a market cap of $362.41 million, a PE ratio of 3.77 and a beta of 0.93. Safe Bulkers has a twelve month low of $3.31 and a twelve month high of $6.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. nVerses Capital LLC boosted its holdings in Safe Bulkers by 269.0% in the 3rd quarter. nVerses Capital LLC now owns 10,700 shares of the shipping company’s stock worth $55,000 after buying an additional 7,800 shares during the period. Intech Investment Management LLC purchased a new stake in Safe Bulkers in the 3rd quarter worth approximately $86,000. Aigen Investment Management LP purchased a new stake in Safe Bulkers in the 3rd quarter worth approximately $90,000. Verition Fund Management LLC lifted its stake in Safe Bulkers by 27.0% in the 3rd quarter. Verition Fund Management LLC now owns 18,400 shares of the shipping company’s stock worth $95,000 after purchasing an additional 3,913 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Safe Bulkers during the 3rd quarter valued at $109,000. 21.69% of the stock is owned by institutional investors.

About Safe Bulkers

Safe Bulkers, Inc, together with its subsidiaries, provides marine drybulk transportation services. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. The company has a fleet of 47 drybulk vessels having an aggregate carrying capacity of 4,719,600 deadweight tons.