Safe Bulkers, Inc. (SB) Receives Average Rating of “Hold” from Brokerages

Shares of Safe Bulkers, Inc. (NYSE:SB) have been given a consensus recommendation of “Hold” by the ten research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $3.29.

A number of brokerages recently commented on SB. Zacks Investment Research raised shares of Safe Bulkers from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a research report on Thursday, January 25th. Jefferies Group reaffirmed a “hold” rating on shares of Safe Bulkers in a research report on Friday, November 3rd. ValuEngine downgraded shares of Safe Bulkers from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Maxim Group set a $5.00 price objective on shares of Safe Bulkers and gave the company a “buy” rating in a research report on Tuesday, October 31st. Finally, Stifel Nicolaus set a $2.00 price objective on shares of Safe Bulkers and gave the company a “hold” rating in a research report on Saturday, October 21st.

Safe Bulkers (NYSE SB) opened at $3.27 on Wednesday. Safe Bulkers has a 1 year low of $1.23 and a 1 year high of $3.84. The company has a market cap of $321.84, a P/E ratio of -17.21 and a beta of 2.14. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 1.00.

A number of hedge funds have recently bought and sold shares of the business. Evermore Global Advisors LLC grew its position in Safe Bulkers by 0.7% in the fourth quarter. Evermore Global Advisors LLC now owns 3,735,740 shares of the shipping company’s stock worth $12,066,000 after acquiring an additional 25,972 shares in the last quarter. Cortina Asset Management LLC bought a new stake in Safe Bulkers in the third quarter worth approximately $3,879,000. Signia Capital Management LLC bought a new stake in Safe Bulkers in the fourth quarter worth approximately $2,426,000. State Street Corp bought a new stake in Safe Bulkers in the second quarter worth approximately $1,088,000. Finally, Northern Trust Corp bought a new stake in Safe Bulkers in the second quarter worth approximately $943,000. 20.00% of the stock is owned by institutional investors.

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About Safe Bulkers

Safe Bulkers, Inc is a holding company. The Company’s principal business is the acquisition, ownership and operation of drybulk vessels. The Company’s vessels operate across the world, carrying drybulk cargo for the consumers of marine drybulk transportation services. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along shipping routes across the world.

Analyst Recommendations for Safe Bulkers (NYSE:SB)

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