Safe Bulkers (NYSE:SB) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Safe Bulkers (NYSE:SB) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday.

Safe Bulkers Stock Up 0.2%

Shares of SB opened at $6.41 on Monday. The firm has a market cap of $654.98 million, a P/E ratio of 14.23 and a beta of 0.85. Safe Bulkers has a 12 month low of $3.56 and a 12 month high of $7.38. The stock’s 50 day moving average is $6.73 and its two-hundred day moving average is $6.08. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.46.

Safe Bulkers (NYSE:SB) last announced its earnings results on Thursday, June 18th. The shipping company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.08. Safe Bulkers had a return on equity of 6.45% and a net margin of 18.73%.The firm had revenue of $74.39 million for the quarter, compared to analyst estimates of $65.50 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SB. Parallel Advisors LLC lifted its stake in Safe Bulkers by 189.7% in the 1st quarter. Parallel Advisors LLC now owns 12,404 shares of the shipping company’s stock worth $79,000 after purchasing an additional 8,122 shares in the last quarter. Bank of America Corp DE grew its position in shares of Safe Bulkers by 90.4% in the first quarter. Bank of America Corp DE now owns 452,122 shares of the shipping company’s stock valued at $2,862,000 after purchasing an additional 214,652 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Safe Bulkers by 2.8% in the first quarter. Empowered Funds LLC now owns 663,731 shares of the shipping company’s stock valued at $4,201,000 after purchasing an additional 17,897 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of Safe Bulkers by 14.7% in the first quarter. Quantinno Capital Management LP now owns 43,114 shares of the shipping company’s stock valued at $273,000 after purchasing an additional 5,531 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in Safe Bulkers during the first quarter worth approximately $1,625,000. Hedge funds and other institutional investors own 21.69% of the company’s stock.

About Safe Bulkers

Safe Bulkers Inc (NYSE: SB) is a dry bulk shipping company engaged in the ocean transport of commodities such as iron ore, coal, grain, and fertilizers. The company operates a modern fleet of vessels, including Panamax, Supramax and Kamsarmax bulk carriers, designed to serve a variety of trade routes and cargo types. Safe Bulkers’ fleet is employed under both time charter and voyage charter arrangements, offering flexibility to respond to market demand and optimize vessel utilization.

Founded in 2008, Safe Bulkers began trading its shares on the New York Stock Exchange in the same year, establishing itself as a publicly listed provider of dry bulk transportation services.