Jefferies Financial Group Reiterates “Buy” Rating for Safe Bulkers (NYSE:SB)

Safe Bulkers (NYSE:SB)‘s stock had its “buy” rating restated by equities researchers at Jefferies Financial Group in a research note issued on Thursday,Benzinga reports. They presently have a $6.00 price objective on the shipping company’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 40.52% from the stock’s current price.

Separately, StockNews.com cut Safe Bulkers from a “buy” rating to a “hold” rating in a report on Wednesday.

Safe Bulkers Stock Performance

Shares of NYSE SB opened at $4.27 on Thursday. The business’s 50-day moving average price is $4.62 and its two-hundred day moving average price is $5.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.11 and a quick ratio of 2.11. Safe Bulkers has a one year low of $3.45 and a one year high of $6.33. The company has a market capitalization of $455.91 million, a P/E ratio of 4.74 and a beta of 0.95.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. nVerses Capital LLC increased its holdings in Safe Bulkers by 269.0% during the 3rd quarter. nVerses Capital LLC now owns 10,700 shares of the shipping company’s stock worth $55,000 after purchasing an additional 7,800 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Safe Bulkers in the 3rd quarter valued at about $86,000. Aigen Investment Management LP bought a new position in shares of Safe Bulkers in the 3rd quarter valued at about $90,000. Verition Fund Management LLC grew its holdings in shares of Safe Bulkers by 27.0% in the 3rd quarter. Verition Fund Management LLC now owns 18,400 shares of the shipping company’s stock valued at $95,000 after acquiring an additional 3,913 shares in the last quarter. Finally, Banque Cantonale Vaudoise grew its holdings in shares of Safe Bulkers by 14.4% in the 2nd quarter. Banque Cantonale Vaudoise now owns 16,863 shares of the shipping company’s stock valued at $98,000 after acquiring an additional 2,129 shares in the last quarter. Institutional investors and hedge funds own 21.69% of the company’s stock.

About Safe Bulkers

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.