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

Safe Bulkers (NYSE:SB) was upgraded by equities research analysts at DNB Markets from a “hold” rating to a “buy” rating in a report released on Monday, Marketbeat Ratings reports. The firm currently has a $4.20 price target on the shipping company’s stock. DNB Markets’ target price suggests a potential upside of 23.75% from the stock’s current price.

Several other research analysts have also recently issued reports on SB. Jefferies Financial Group reaffirmed a “buy” rating and issued a $6.00 target price on shares of Safe Bulkers in a report on Thursday, November 14th. StockNews.com upgraded shares of Safe Bulkers from a “hold” rating to a “buy” rating in a research report on Monday, January 13th.

Safe Bulkers Trading Down 0.5 %

Shares of SB opened at $3.39 on Monday. The firm’s 50-day moving average price is $3.69 and its 200-day moving average price is $4.44. The firm has a market capitalization of $362.41 million, a price-to-earnings ratio of 3.77 and a beta of 0.93. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.52. Safe Bulkers has a 1-year low of $3.31 and a 1-year high of $6.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp lifted its stake in shares of Safe Bulkers by 1.8% in the 3rd quarter. State Street Corp now owns 1,653,002 shares of the shipping company’s stock valued at $8,563,000 after purchasing an additional 29,178 shares during the period. Empowered Funds LLC raised its position in Safe Bulkers by 5.3% during the third quarter. Empowered Funds LLC now owns 519,967 shares of the shipping company’s stock worth $2,693,000 after acquiring an additional 26,398 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in shares of Safe Bulkers in the third quarter valued at about $1,480,000. AQR Capital Management LLC raised its position in shares of Safe Bulkers by 5.5% in the second quarter. AQR Capital Management LLC now owns 280,999 shares of the shipping company’s stock valued at $1,635,000 after buying an additional 14,589 shares during the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of Safe Bulkers in the third quarter valued at about $1,109,000. Hedge funds and other institutional investors own 21.69% of the company’s stock.

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.