Safe Bulkers (NYSE:SB) Raised to “Buy” at StockNews.com

Safe Bulkers (NYSE:SB) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

Separately, Jefferies Financial Group reissued a “buy” rating and set a $6.00 price objective on shares of Safe Bulkers in a report on Thursday, November 14th.

Safe Bulkers Stock Down 2.1 %

SB stock traded down $0.08 during trading on Friday, reaching $3.68. The stock had a trading volume of 591,779 shares, compared to its average volume of 675,410. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.52. Safe Bulkers has a 1-year low of $3.66 and a 1-year high of $6.33. The firm has a fifty day moving average price of $4.26 and a 200 day moving average price of $4.96. The company has a market capitalization of $392.95 million, a P/E ratio of 4.09 and a beta of 0.91.

Hedge Funds Weigh In On Safe Bulkers

Several hedge funds and other institutional investors have recently made changes to their positions in SB. LSV Asset Management raised its position in shares of Safe Bulkers by 440.7% during the 2nd quarter. LSV Asset Management now owns 552,357 shares of the shipping company’s stock worth $3,215,000 after buying an additional 450,209 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Safe Bulkers by 20.0% in the 2nd quarter. Acadian Asset Management LLC now owns 2,278,803 shares of the shipping company’s stock worth $13,251,000 after acquiring an additional 380,270 shares during the last quarter. Denali Advisors LLC increased its stake in Safe Bulkers by 316.6% in the 2nd quarter. Denali Advisors LLC now owns 418,300 shares of the shipping company’s stock worth $2,435,000 after purchasing an additional 317,900 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Safe Bulkers in the third quarter worth approximately $1,480,000. Finally, Walleye Capital LLC acquired a new stake in Safe Bulkers during the 3rd quarter valued at $1,109,000. 21.69% of the stock is currently owned by institutional investors and hedge funds.

Safe Bulkers Company Profile

Safe Bulkers, Inc, together with its subsidiaries, provides marine drybulk transportation services. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. The company has a fleet of 47 drybulk vessels having an aggregate carrying capacity of 4,719,600 deadweight tons.