Nordic American Tanker (NAT) Price Target Cut to $2.00 by Analysts at Credit Suisse Group

Nordic American Tanker (NYSE:NAT) had its price objective dropped by research analysts at Credit Suisse Group from $4.00 to $2.00 in a research note issued on Tuesday. The brokerage currently has a “neutral” rating on the shipping company’s stock. Credit Suisse Group’s price target indicates a potential downside of 8.68% from the company’s current price.

Other equities research analysts have also issued reports about the company. Clarkson Capital upgraded Nordic American Tanker from a “neutral” rating to a “buy” rating in a report on Friday, January 5th. Morgan Stanley reduced their price target on Nordic American Tanker from $5.00 to $2.50 and set an “equal weight” rating for the company in a report on Monday. Seaport Global Securities set a $3.00 price target on Nordic American Tanker and gave the company a “hold” rating in a report on Friday, January 5th. Zacks Investment Research upgraded Nordic American Tanker from a “sell” rating to a “hold” rating in a report on Saturday, December 30th. Finally, Jefferies Group upgraded Nordic American Tanker from an “underperform” rating to a “hold” rating and set a $3.00 target price for the company in a report on Thursday, December 14th. Five investment analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $3.36.

Shares of Nordic American Tanker (NYSE:NAT) opened at $2.19 on Tuesday. The stock has a market capitalization of $279.68, a PE ratio of -3.98 and a beta of 0.81. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.71 and a current ratio of 3.52. Nordic American Tanker has a 1-year low of $1.82 and a 1-year high of $8.68.

Nordic American Tanker (NYSE:NAT) last announced its quarterly earnings results on Monday, February 12th. The shipping company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.03). Nordic American Tanker had a negative net margin of 32.51% and a negative return on equity of 6.49%. sell-side analysts anticipate that Nordic American Tanker will post -0.68 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of NAT. Principal Financial Group Inc. lifted its holdings in Nordic American Tanker by 37.9% in the 2nd quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock worth $103,000 after purchasing an additional 4,454 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Nordic American Tanker in the 3rd quarter worth approximately $158,000. Wilbanks Smith & Thomas Asset Management LLC lifted its holdings in Nordic American Tanker by 157.2% in the 4th quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 67,464 shares of the shipping company’s stock worth $166,000 after purchasing an additional 41,232 shares during the last quarter. Belpointe Asset Management LLC acquired a new stake in Nordic American Tanker in the 3rd quarter worth approximately $241,000. Finally, Voya Investment Management LLC lifted its holdings in Nordic American Tanker by 14.0% in the 2nd quarter. Voya Investment Management LLC now owns 46,032 shares of the shipping company’s stock worth $292,000 after purchasing an additional 5,659 shares during the last quarter. Hedge funds and other institutional investors own 17.33% of the company’s stock.

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Nordic American Tanker Company Profile

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.

Analyst Recommendations for Nordic American Tanker (NYSE:NAT)

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