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

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

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

Safe Bulkers Stock Performance

NYSE:SB opened at $3.59 on Monday. The stock has a market cap of $383.33 million, a P/E ratio of 3.99 and a beta of 0.93. 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 business’s 50-day moving average price is $3.84 and its two-hundred day moving average price is $4.58. Safe Bulkers has a twelve month low of $3.37 and a twelve month high of $6.33.

Institutional Investors Weigh In On Safe Bulkers

Several hedge funds have recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of Safe Bulkers by 83.4% during the 3rd quarter. Barclays PLC now owns 125,238 shares of the shipping company’s stock valued at $648,000 after purchasing an additional 56,946 shares during the last quarter. Walleye Capital LLC bought a new position in Safe Bulkers during the third quarter valued at approximately $1,109,000. Franklin Resources Inc. grew its position in Safe Bulkers by 107.0% during the third quarter. Franklin Resources Inc. now owns 82,417 shares of the shipping company’s stock valued at $427,000 after acquiring an additional 42,598 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Safe Bulkers during the third quarter worth approximately $1,480,000. Finally, State Street Corp lifted its holdings in shares of Safe Bulkers by 1.8% in the 3rd quarter. State Street Corp now owns 1,653,002 shares of the shipping company’s stock worth $8,563,000 after acquiring an additional 29,178 shares during the last quarter. Institutional investors 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.