Clarkson Capital Upgrades Navigator (NYSE:NVGS) to “Buy”

Navigator (NYSE:NVGS) was upgraded by equities researchers at Clarkson Capital from a “neutral” rating to a “buy” rating in a research note issued on Thursday, Marketbeat.com reports. The brokerage currently has a $20.00 price target on the shipping company’s stock. Clarkson Capital’s target price would indicate a potential upside of 21.95% from the stock’s current price.

NVGS has been the topic of a number of other research reports. StockNews.com upgraded shares of Navigator from a “hold” rating to a “buy” rating in a research note on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating and set a $20.00 price target on shares of Navigator in a research report on Thursday, August 15th. Finally, Citigroup started coverage on Navigator in a report on Wednesday, July 31st. They issued a “buy” rating and a $22.00 price objective for the company.

Navigator Price Performance

Shares of NYSE:NVGS opened at $16.40 on Thursday. Navigator has a twelve month low of $13.21 and a twelve month high of $18.18. The company has a current ratio of 1.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.52. The company has a market cap of $1.20 billion, a PE ratio of 14.02 and a beta of 1.51. The company’s 50 day moving average is $16.61 and its 200 day moving average is $16.01.

Institutional Investors Weigh In On Navigator

Hedge funds have recently modified their holdings of the company. Encompass Capital Advisors LLC acquired a new position in Navigator in the 2nd quarter worth about $23,571,000. Acadian Asset Management LLC lifted its position in shares of Navigator by 145.7% during the 1st quarter. Acadian Asset Management LLC now owns 1,086,016 shares of the shipping company’s stock valued at $16,641,000 after buying an additional 644,011 shares in the last quarter. Hodges Capital Management Inc. grew its stake in Navigator by 89.3% in the 1st quarter. Hodges Capital Management Inc. now owns 522,535 shares of the shipping company’s stock valued at $8,021,000 after acquiring an additional 246,505 shares during the period. Marshall Wace LLP increased its holdings in Navigator by 361.3% in the 2nd quarter. Marshall Wace LLP now owns 207,039 shares of the shipping company’s stock worth $3,615,000 after acquiring an additional 162,160 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Navigator by 15.8% during the second quarter. Renaissance Technologies LLC now owns 787,700 shares of the shipping company’s stock worth $13,753,000 after acquiring an additional 107,300 shares during the period. 18.95% of the stock is owned by hedge funds and other institutional investors.

About Navigator

Navigator Holdings Ltd. engages in owning and operating a fleet of liquefied gas carriers worldwide. It provides international and regional seaborne transportation services of petrochemical gases, liquefied petroleum gases, and ammonia for energy companies, industrial users, and commodity traders. The company also offers ship shore infrastructure and consultancy services.