Safe Bulkers (NYSE:SB) Downgraded by StockNews.com to “Hold”

Safe Bulkers (NYSE:SBGet Free Report) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Several other equities analysts also recently weighed in on the company. Jefferies Financial Group reissued a “buy” rating and set a $6.00 target price on shares of Safe Bulkers in a research report on Thursday, November 14th. DNB Markets upgraded shares of Safe Bulkers from a “hold” rating to a “buy” rating and set a $4.20 price objective on the stock in a research report on Monday.

Read Our Latest Stock Report on Safe Bulkers

Safe Bulkers Trading Up 2.8 %

SB traded up $0.10 on Monday, hitting $3.48. The company had a trading volume of 914,921 shares, compared to its average volume of 640,308. Safe Bulkers has a 12-month low of $3.31 and a 12-month high of $6.33. 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 fifty day simple moving average is $3.69 and its 200 day simple moving average is $4.44. The company has a market cap of $371.05 million, a PE ratio of 3.86 and a beta of 0.93.

Institutional Investors Weigh In On Safe Bulkers

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC boosted its position in Safe Bulkers by 19.6% in the 4th quarter. SG Americas Securities LLC now owns 25,204 shares of the shipping company’s stock valued at $90,000 after buying an additional 4,122 shares during the period. Ballentine Partners LLC bought a new stake in shares of Safe Bulkers during the fourth quarter valued at approximately $89,000. Franklin Resources Inc. boosted its holdings in shares of Safe Bulkers by 107.0% in the third quarter. Franklin Resources Inc. now owns 82,417 shares of the shipping company’s stock valued at $427,000 after purchasing an additional 42,598 shares during the period. Barclays PLC grew its stake in Safe Bulkers by 83.4% in the third quarter. Barclays PLC now owns 125,238 shares of the shipping company’s stock worth $648,000 after purchasing an additional 56,946 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Safe Bulkers in the third quarter worth approximately $492,000. 21.69% of the stock is owned by institutional investors.

About Safe Bulkers

(Get Free Report)

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.

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