Seacor (NYSE:CKH) Lifted to “Buy” at Zacks Investment Research

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Seacor (NYSE:CKH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The brokerage presently has a $53.00 price objective on the oil and gas company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.81% from the stock’s current price.

According to Zacks, “SEACOR Holdings Inc. is a diversified holding company principally focused on domestic and international transportation, logistics, and risk management consultancy. SEACOR provides its customers with highly responsive services focused on innovative technology, modern efficient equipment, and dedicated, highly trained professionals. As the parent company of a global, diversified family of companies, SEACOR has the ability to utilize its subsidiaries’ assets to provide customers with the highest level of service within the industries in which it operates. SEACOR also maintains strategic joint venture arrangements in various geographic locations around the world, enhancing its existing business lines while satisfying specific customer requirements with resources such as logistical support, assets, and personnel. SEACOR engages in the operation of a fleet of offshore vessels in the U.S. Gulf of Mexico, the North Sea, West Africa, Asia, Latin America and other regions. “

Separately, ValuEngine upgraded shares of Seacor from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd.

NYSE:CKH traded up $0.36 during midday trading on Tuesday, reaching $47.40. The stock had a trading volume of 62,765 shares, compared to its average volume of 74,755. The firm has a fifty day simple moving average of $47.48 and a two-hundred day simple moving average of $45.78. Seacor has a 12-month low of $34.63 and a 12-month high of $51.42. The company has a quick ratio of 1.81, a current ratio of 1.84 and a debt-to-equity ratio of 0.40. The stock has a market cap of $945.03 million, a P/E ratio of 26.19 and a beta of 0.81.

Seacor (NYSE:CKH) last posted its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.32. Seacor had a net margin of 4.12% and a return on equity of 4.71%. The firm had revenue of $197.02 million for the quarter, compared to analyst estimates of $214.72 million. On average, sell-side analysts anticipate that Seacor will post 2.19 earnings per share for the current fiscal year.

In other Seacor news, COO Eric Fabrikant sold 6,984 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $50.28, for a total transaction of $351,155.52. Following the sale, the chief operating officer now directly owns 77,136 shares in the company, valued at approximately $3,878,398.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bruce Weins sold 5,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $49.25, for a total transaction of $246,250.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,085 shares of company stock worth $3,016,797. 10.47% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Montreal Can boosted its position in shares of Seacor by 325.9% during the 2nd quarter. Bank of Montreal Can now owns 1,925 shares of the oil and gas company’s stock worth $91,000 after purchasing an additional 1,473 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in Seacor in the 2nd quarter valued at about $225,000. AQR Capital Management LLC acquired a new position in Seacor in the 2nd quarter valued at about $250,000. Paloma Partners Management Co acquired a new position in Seacor in the 2nd quarter valued at about $257,000. Finally, Cubist Systematic Strategies LLC raised its stake in Seacor by 12.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,522 shares of the oil and gas company’s stock valued at $262,000 after purchasing an additional 594 shares during the last quarter. Institutional investors own 84.62% of the company’s stock.

About Seacor

SEACOR Holdings Inc engages in transportation and logistics, risk management consultancy, and other businesses in the United States and internationally. The company operates through Ocean Transportation & Logistics Services, Inland Transportation & Logistics Services, Witt O'Brien's, and Other segments.

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