Nordic American Tanker (NAT) Upgraded to “Hold” by Jefferies Group
Nordic American Tanker (NYSE:NAT) was upgraded by investment analysts at Jefferies Group from an “underperform” rating to a “hold” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm currently has a $3.00 price objective on the shipping company’s stock. Jefferies Group’s target price indicates a potential upside of 12.36% from the company’s previous close.
NAT has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Nordic American Tanker from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 10th. Maxim Group reissued a “sell” rating on shares of Nordic American Tanker in a research note on Monday, November 6th. Finally, Morgan Stanley lowered their target price on shares of Nordic American Tanker from $6.50 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 8th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $5.17.
Shares of Nordic American Tanker (NAT) traded up $0.02 during trading hours on Thursday, hitting $2.67. 5,568,636 shares of the stock were exchanged, compared to its average volume of 1,276,798. The firm has a market capitalization of $270.16, a price-to-earnings ratio of 91.75 and a beta of 0.88. The company has a current ratio of 4.69, a quick ratio of 3.87 and a debt-to-equity ratio of 0.52. Nordic American Tanker has a 52 week low of $2.64 and a 52 week high of $9.39.
About Nordic American Tanker
Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.
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