Safe Bulkers (NYSE:SB) was downgraded by research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued on Monday, MarketBeat Ratings reports. They currently have a $4.00 price objective on the shipping company’s stock. Morgan Stanley’s price objective indicates a potential upside of 19.40% from the stock’s current price.
Several other equities research analysts also recently commented on the company. Zacks Investment Research raised Safe Bulkers from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Maxim Group set a $5.00 price target on Safe Bulkers and gave the stock a “buy” rating in a research note on Thursday, October 19th. Citigroup boosted their price target on Safe Bulkers from $2.00 to $2.50 and gave the stock a “sell” rating in a research note on Thursday, November 2nd. Stifel Nicolaus set a $2.00 price target on Safe Bulkers and gave the stock a “hold” rating in a research note on Saturday, October 21st. Finally, Jefferies Group started coverage on Safe Bulkers in a research note on Monday, December 18th. They issued a “hold” rating and a $3.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $3.46.
Safe Bulkers (SB) traded up $0.13 during trading on Monday, reaching $3.35. The company’s stock had a trading volume of 423,606 shares, compared to its average volume of 445,945. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 1.00. Safe Bulkers has a twelve month low of $1.23 and a twelve month high of $3.84. The company has a market capitalization of $326.92, a P/E ratio of -17.63 and a beta of 2.14.
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.
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