StockNews.com Upgrades Safe Bulkers (NYSE:SB) to “Buy”

Safe Bulkers (NYSE:SB) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

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

Safe Bulkers Stock Down 2.1 %

SB stock opened at $3.68 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market cap of $392.94 million, a PE ratio of 4.09 and a beta of 0.91. Safe Bulkers has a 12 month low of $3.66 and a 12 month high of $6.33. The firm has a 50 day simple moving average of $4.23 and a 200 day simple moving average of $4.95.

Institutional Investors Weigh In On Safe Bulkers

A number of large investors have recently made changes to their positions in the company. LSV Asset Management raised its position in Safe Bulkers by 440.7% during the second quarter. LSV Asset Management now owns 552,357 shares of the shipping company’s stock valued at $3,215,000 after buying an additional 450,209 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Safe Bulkers by 20.0% in the 2nd quarter. Acadian Asset Management LLC now owns 2,278,803 shares of the shipping company’s stock valued at $13,251,000 after purchasing an additional 380,270 shares during the period. Denali Advisors LLC increased its holdings in shares of Safe Bulkers by 316.6% in the 2nd quarter. Denali Advisors LLC now owns 418,300 shares of the shipping company’s stock valued at $2,435,000 after purchasing an additional 317,900 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in shares of Safe Bulkers in the third quarter worth approximately $1,480,000. Finally, Walleye Capital LLC acquired a new stake in shares of Safe Bulkers during the third quarter worth approximately $1,109,000. 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.