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

Safe Bulkers (NYSE:SB) was upgraded by investment analysts at DNB Markets from a “hold” rating to a “buy” rating in a research note issued on Monday, Marketbeat.com reports. The firm currently has a $4.20 price objective on the shipping company’s stock. DNB Markets’ price target would suggest a potential upside of 21.56% from the stock’s current price.

A number of other analysts also recently commented on SB. StockNews.com upgraded shares of 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 target price on shares of Safe Bulkers in a report on Thursday, November 14th.

Safe Bulkers Price Performance

Shares of NYSE SB opened at $3.46 on Monday. The firm has a 50-day simple moving average of $3.66 and a 200-day simple moving average of $4.41. 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 stock has a market capitalization of $368.92 million, a price-to-earnings ratio of 3.84 and a beta of 0.93. Safe Bulkers has a 52 week low of $3.31 and a 52 week high of $6.33.

Hedge Funds Weigh In On Safe Bulkers

Several large investors have recently modified their holdings of SB. nVerses Capital LLC boosted its position in shares of Safe Bulkers by 269.0% during the third 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 position in Safe Bulkers during the 3rd quarter valued at about $86,000. Ballentine Partners LLC purchased a new position in Safe Bulkers during the 4th quarter valued at about $89,000. Aigen Investment Management LP acquired a new position in Safe Bulkers in the 3rd quarter valued at about $90,000. Finally, SG Americas Securities LLC increased its stake in Safe Bulkers by 19.6% during the fourth quarter. SG Americas Securities LLC now owns 25,204 shares of the shipping company’s stock worth $90,000 after purchasing an additional 4,122 shares during the period. Institutional investors and hedge funds own 21.69% of the company’s stock.

Safe Bulkers Company Profile

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.