StockNews.com Downgrades Safe Bulkers (NYSE:SB) to Hold

Safe Bulkers (NYSE:SB – Get Rating) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Separately, Jefferies Financial Group restated a “hold” rating and set a $3.00 target price on shares of Safe Bulkers in a report on Thursday, February 16th.

Safe Bulkers Price Performance

Shares of SB opened at $3.47 on Wednesday. The company has a market cap of $422.09 million, a price-to-earnings ratio of 2.53 and a beta of 0.91. Safe Bulkers has a 1-year low of $2.35 and a 1-year high of $5.12. The company’s fifty day simple moving average is $3.33 and its 200 day simple moving average is $3.01. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of 0.48.

Hedge Funds Weigh In On Safe Bulkers

Several institutional investors and hedge funds have recently modified their holdings of SB. Ethic Inc. acquired a new position in shares of Safe Bulkers in the third quarter valued at about $26,000. Financial Advocates Investment Management acquired a new position in shares of Safe Bulkers in the fourth quarter valued at about $29,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Safe Bulkers in the third quarter valued at about $31,000. Beacon Pointe Advisors LLC acquired a new position in shares of Safe Bulkers in the second quarter valued at about $38,000. Finally, Advisor Group Holdings Inc. grew its stake in shares of Safe Bulkers by 1,074.3% in the first quarter. Advisor Group Holdings Inc. now owns 8,220 shares of the shipping company’s stock valued at $39,000 after acquiring an additional 7,520 shares in the last quarter. 25.95% of the stock is currently owned by institutional investors and hedge funds.

Safe Bulkers Company Profile

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Safe Bulkers, Inc provides international marine drybulk transportation services. The firm offers transporting bulk cargoes, particularly coal, grain and iron ore, along worldwide shipping routes for some of the world’s largest users of marine drybulk transportation services. The company was founded on December 11, 2007 and is headquartered in Les Acanthes, Monaco.