Safe Bulkers (NYSE:SB) Stock Rating Lowered by StockNews.com

Safe Bulkers (NYSE:SB) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Separately, Jefferies Financial Group reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Safe Bulkers in a report on Thursday, November 14th.

Safe Bulkers Price Performance

Shares of SB opened at $3.84 on Tuesday. Safe Bulkers has a twelve month low of $3.45 and a twelve month high of $6.33. The stock’s 50 day moving average is $4.53 and its two-hundred day moving average is $5.08. The firm has a market capitalization of $410.04 million, a PE ratio of 4.27 and a beta of 0.95. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.52.

Institutional Investors Weigh In On Safe Bulkers

Several institutional investors have recently modified their holdings of SB. Russell Investments Group Ltd. raised its position in shares of Safe Bulkers by 3,273.7% during the 1st quarter. Russell Investments Group Ltd. now owns 165,345 shares of the shipping company’s stock worth $821,000 after purchasing an additional 160,444 shares during the last quarter. Denali Advisors LLC raised its position in shares of Safe Bulkers by 316.6% during the 2nd quarter. Denali Advisors LLC now owns 418,300 shares of the shipping company’s stock worth $2,435,000 after purchasing an additional 317,900 shares during the last quarter. Banque Cantonale Vaudoise raised its position in shares of Safe Bulkers by 14.4% during the 2nd quarter. Banque Cantonale Vaudoise now owns 16,863 shares of the shipping company’s stock worth $98,000 after purchasing an additional 2,129 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Safe Bulkers during the 3rd quarter worth approximately $1,480,000. Finally, Acadian Asset Management LLC raised its position in shares of Safe Bulkers by 20.0% during the 2nd quarter. Acadian Asset Management LLC now owns 2,278,803 shares of the shipping company’s stock worth $13,251,000 after purchasing an additional 380,270 shares during the last quarter. 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.