Analysts Set Genco Shipping & Trading Limited (NYSE:GNK) Target Price at $24.20

Shares of Genco Shipping & Trading Limited (NYSE:GNK) have received an average recommendation of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $24.20.

GNK has been the topic of a number of research analyst reports. StockNews.com downgraded Genco Shipping & Trading from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Jefferies Financial Group reiterated a “buy” rating and set a $25.00 target price on shares of Genco Shipping & Trading in a report on Thursday, November 7th. Finally, Stifel Nicolaus downgraded Genco Shipping & Trading from a “buy” rating to a “hold” rating and reduced their target price for the stock from $26.00 to $17.00 in a report on Wednesday, October 23rd.

Genco Shipping & Trading Stock Up 2.0 %

Shares of NYSE:GNK opened at $14.64 on Friday. Genco Shipping & Trading has a 1 year low of $13.51 and a 1 year high of $23.43. The stock’s 50-day moving average is $14.38 and its 200 day moving average is $16.31. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.09 and a quick ratio of 2.49. The company has a market cap of $625.92 million, a PE ratio of 9.32, a P/E/G ratio of 5.57 and a beta of 0.97.

Institutional Trading of Genco Shipping & Trading

Several hedge funds and other institutional investors have recently made changes to their positions in GNK. Pekin Hardy Strauss Inc. bought a new position in Genco Shipping & Trading in the 3rd quarter valued at approximately $812,000. Charles Schwab Investment Management Inc. lifted its position in Genco Shipping & Trading by 70.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 530,523 shares of the shipping company’s stock valued at $10,345,000 after acquiring an additional 219,907 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Genco Shipping & Trading by 155.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 285,091 shares of the shipping company’s stock valued at $5,559,000 after acquiring an additional 173,270 shares in the last quarter. Barclays PLC lifted its position in Genco Shipping & Trading by 499.7% in the 3rd quarter. Barclays PLC now owns 103,387 shares of the shipping company’s stock valued at $2,016,000 after acquiring an additional 86,147 shares in the last quarter. Finally, Petrus Trust Company LTA bought a new position in Genco Shipping & Trading in the 3rd quarter valued at approximately $661,000. Hedge funds and other institutional investors own 58.62% of the company’s stock.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, steel products, and other drybulk cargoes. The company was founded on September 27, 2004 and is headquartered in New York, NY.