Citigroup Begins Coverage on Navigator (NYSE:NVGS)

Citigroup initiated coverage on shares of Navigator (NYSE:NVGS) in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage issued a buy rating and a $22.00 price target on the shipping company’s stock.

Separately, StockNews.com raised Navigator from a hold rating to a buy rating in a research report on Tuesday, May 21st.

Navigator Stock Performance

Shares of NVGS opened at $15.72 on Wednesday. Navigator has a 12 month low of $12.80 and a 12 month high of $18.18. The stock has a fifty day moving average price of $16.91 and a 200-day moving average price of $16.02. The company has a current ratio of 1.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.52. The firm has a market cap of $1.15 billion, a PE ratio of 13.44 and a beta of 1.51.

Navigator (NYSE:NVGS) last released its quarterly earnings results on Wednesday, May 15th. The shipping company reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. The company had revenue of $119.97 million during the quarter, compared to analysts’ expectations of $121.51 million. Navigator had a return on equity of 6.86% and a net margin of 15.68%. Equities research analysts predict that Navigator will post 1.43 earnings per share for the current fiscal year.

Navigator Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Tuesday, June 4th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.20 annualized dividend and a dividend yield of 1.27%. Navigator’s dividend payout ratio (DPR) is presently 17.09%.

Institutional Investors Weigh In On Navigator

Several hedge funds have recently added to or reduced their stakes in NVGS. Hodges Capital Management Inc. lifted its holdings in shares of Navigator by 4.0% in the 2nd quarter. Hodges Capital Management Inc. now owns 543,273 shares of the shipping company’s stock valued at $9,486,000 after buying an additional 20,738 shares during the period. Perkins Coie Trust Co acquired a new position in Navigator in the second quarter valued at approximately $105,000. Tidal Investments LLC boosted its position in Navigator by 18.4% in the 1st quarter. Tidal Investments LLC now owns 34,013 shares of the shipping company’s stock worth $522,000 after purchasing an additional 5,285 shares in the last quarter. Levin Capital Strategies L.P. grew its stake in shares of Navigator by 74.7% during the 1st quarter. Levin Capital Strategies L.P. now owns 22,449 shares of the shipping company’s stock worth $345,000 after purchasing an additional 9,600 shares during the period. Finally, Aristides Capital LLC purchased a new position in shares of Navigator during the 1st quarter valued at approximately $252,000. 18.95% of the stock is owned by hedge funds and other institutional investors.

Navigator Company Profile

Navigator Holdings Ltd. engages in owning and operating a fleet of liquefied gas carriers worldwide. It provides international and regional seaborne transportation services of petrochemical gases, liquefied petroleum gases, and ammonia for energy companies, industrial users, and commodity traders. The company also offers ship shore infrastructure and consultancy services.