Okeanis Eco Tankers (NYSE:ECO) Raised to “Buy” at Clarkson Capital

Okeanis Eco Tankers (NYSE:ECO) was upgraded by research analysts at Clarkson Capital from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, MarketBeat Ratings reports. The firm currently has a $46.05 target price on the stock. Clarkson Capital’s price objective would indicate a potential upside of 14.26% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Zacks Research downgraded shares of Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. B. Riley upped their price target on shares of Okeanis Eco Tankers from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Okeanis Eco Tankers in a report on Monday, December 29th. UBS Group cut Okeanis Eco Tankers from a “buy” rating to a “neutral” rating in a research note on Friday, November 14th. Finally, Wall Street Zen raised Okeanis Eco Tankers from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 15th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Okeanis Eco Tankers presently has an average rating of “Moderate Buy” and an average price target of $40.02.

Okeanis Eco Tankers Price Performance

Shares of Okeanis Eco Tankers stock opened at $40.30 on Tuesday. The business’s fifty day moving average price is $36.31 and its 200 day moving average price is $31.49. Okeanis Eco Tankers has a twelve month low of $17.91 and a twelve month high of $41.31. The company has a current ratio of 2.00, a quick ratio of 1.69 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $1.27 billion, a P/E ratio of 16.86 and a beta of 0.05.

Okeanis Eco Tankers (NYSE:ECO) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.48. Okeanis Eco Tankers had a return on equity of 18.05% and a net margin of 21.92%.The business had revenue of $90.60 million for the quarter, compared to analyst estimates of $51.29 million. As a group, research analysts anticipate that Okeanis Eco Tankers will post 1.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ECO. BNP Paribas Financial Markets acquired a new stake in Okeanis Eco Tankers during the 2nd quarter valued at approximately $25,000. Quarry LP purchased a new position in shares of Okeanis Eco Tankers during the 3rd quarter valued at approximately $29,000. State of Wyoming purchased a new position in shares of Okeanis Eco Tankers during the 2nd quarter valued at approximately $107,000. Verition Fund Management LLC acquired a new stake in shares of Okeanis Eco Tankers during the third quarter worth approximately $211,000. Finally, S.E.E.D. Planning Group LLC bought a new stake in shares of Okeanis Eco Tankers in the third quarter worth $234,000.

Okeanis Eco Tankers Company Profile

Okeanis Eco Tankers Corp. is a Marshall Islands–incorporated, publicly traded shipping company specializing in the ownership and operation of eco-design product tankers. The company made its debut on the New York Stock Exchange under the ticker “ECO” in May 2019 following an initial public offering. It focuses on the acquisition of newbuilding medium-range (MR) and long-range (LR) product tankers designed to deliver enhanced fuel efficiency and reduced emissions.

As of its public listing, Okeanis Eco Tankers’ fleet comprises twelve eco-efficient vessels built by Hyundai Samho Heavy Industries in South Korea.