Navios Maritime Partners (NYSE:NMM) Price Target Increased to $80.00 by Analysts at Jefferies Financial Group

Navios Maritime Partners (NYSE:NMM) had its price objective lifted by Jefferies Financial Group from $65.00 to $80.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the shipping company’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 41.84% from the stock’s previous close.

Separately, StockNews.com upgraded shares of Navios Maritime Partners from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st.

Navios Maritime Partners Stock Performance

NMM traded up $1.73 on Thursday, reaching $56.40. The stock had a trading volume of 129,736 shares, compared to its average volume of 174,929. Navios Maritime Partners has a 12-month low of $21.18 and a 12-month high of $56.91. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.55. The business’s 50-day moving average price is $49.85 and its two-hundred day moving average price is $47.24. The company has a market cap of $1.70 billion, a P/E ratio of 4.27 and a beta of 1.97.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings results on Tuesday, August 20th. The shipping company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.22. The firm had revenue of $342.20 million for the quarter, compared to analyst estimates of $312.39 million. Navios Maritime Partners had a net margin of 30.28% and a return on equity of 13.86%. Navios Maritime Partners’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.32 earnings per share. Sell-side analysts forecast that Navios Maritime Partners will post 14.8 earnings per share for the current year.

Hedge Funds Weigh In On Navios Maritime Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NMM. BNP Paribas Financial Markets raised its position in shares of Navios Maritime Partners by 30,700.0% in the first quarter. BNP Paribas Financial Markets now owns 1,232 shares of the shipping company’s stock valued at $53,000 after buying an additional 1,228 shares during the last quarter. Westhampton Capital LLC acquired a new position in shares of Navios Maritime Partners in the first quarter valued at approximately $241,000. Aristides Capital LLC acquired a new position in shares of Navios Maritime Partners in the first quarter valued at approximately $361,000. Tactive Advisors LLC acquired a new position in shares of Navios Maritime Partners in the first quarter valued at approximately $442,000. Finally, Virtu Financial LLC acquired a new position in shares of Navios Maritime Partners in the first quarter valued at approximately $452,000. Institutional investors and hedge funds own 62.74% of the company’s stock.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia. The company offers seaborne transportation services for a range of liquid and dry cargo commodities, including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers, as well as charters its vessels under short, medium, and longer-term charters.