Euronav NV (NASDAQ:EURN) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday.
According to Zacks, “Euronav is a tanker company. It owns, operates and manages a fleet of vessels for the transportation and storage of crude oil and petroleum products. The company also offers ship management services. It operates primarily in Europe and Asia. Euronav is headquartered in Antwerp, Belgium. “
Several other analysts have also issued reports on the company. BidaskClub raised Euronav NV from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. ValuEngine lowered Euronav NV from a “hold” rating to a “sell” rating in a report on Friday, September 1st. TheStreet raised Euronav NV from a “d+” rating to a “c-” rating in a report on Tuesday, July 25th. Finally, Stifel Nicolaus restated a “hold” rating and set a $8.00 price objective on shares of Euronav NV in a research report on Friday, July 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.63.
Euronav NV (EURN) opened at 8.15 on Tuesday. The company has a market capitalization of $1.29 billion and a PE ratio of 21.50. Euronav NV has a one year low of $6.65 and a one year high of $8.55. The firm’s 50 day moving average price is $7.99 and its 200-day moving average price is $7.99.
Hedge funds have recently made changes to their positions in the stock. Morgan Stanley lifted its position in shares of Euronav NV by 2.9% during the 1st quarter. Morgan Stanley now owns 524,025 shares of the shipping company’s stock worth $4,140,000 after buying an additional 14,688 shares during the last quarter. FMR LLC lifted its position in shares of Euronav NV by 45.3% during the 1st quarter. FMR LLC now owns 3,083,015 shares of the shipping company’s stock worth $24,658,000 after buying an additional 961,865 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Euronav NV during the 2nd quarter worth $8,403,000. FNY Partners Fund LP lifted its position in shares of Euronav NV by 8,108.1% during the 2nd quarter. FNY Partners Fund LP now owns 146,350 shares of the shipping company’s stock worth $1,156,000 after buying an additional 144,567 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Euronav NV by 10.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,095,221 shares of the shipping company’s stock worth $8,652,000 after buying an additional 102,970 shares during the last quarter.
Euronav NV Company Profile
Euronav NV, together with its subsidiaries, owns, operates, and manages a fleet of vessels for the ocean transportation and storage of crude oil and petroleum products worldwide. The company operates through two segments, Tankers; and Floating Production, Storage, and Offloading Operations. As of April 4, 2017, it owned and operated a fleet of 55 double hulled vessels, including 31 very large crude carriers, 1 V-Plus vessel, 19 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 2 Suezmax vessels under construction.
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