Morgan Stanley downgraded shares of Safe Bulkers (NYSE:SB) from an overweight rating to an equal weight rating in a research note issued to investors on Monday morning, MarketBeat reports. The firm currently has $4.00 price target on the shipping company’s stock.
A number of other research firms also recently issued reports on SB. Zacks Investment Research upgraded shares of Safe Bulkers from a hold rating to a buy rating and set a $4.25 target price for the company in a research report on Thursday, January 25th. Citigroup increased their target price on shares of Safe Bulkers from $2.00 to $2.50 and gave the stock a sell rating in a research report on Thursday, November 2nd. Maxim Group set a $5.00 target price on shares of Safe Bulkers and gave the stock a buy rating in a research report on Tuesday, October 31st. Jefferies Group reiterated a hold rating on shares of Safe Bulkers in a research report on Friday, November 3rd. Finally, Stifel Nicolaus set a $2.00 target price on shares of Safe Bulkers and gave the stock a hold rating in a research report on Saturday, October 21st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $3.46.
Shares of Safe Bulkers (NYSE:SB) opened at $3.45 on Monday. Safe Bulkers has a 12-month low of $1.23 and a 12-month high of $3.84. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.28 and a quick ratio of 2.28. The stock has a market cap of $350.27, a P/E ratio of -18.16 and a beta of 2.13.
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Safe Bulkers Company Profile
Safe Bulkers, Inc is a holding company. The Company’s principal business is the acquisition, ownership and operation of drybulk vessels. The Company’s vessels operate across the world, carrying drybulk cargo for the consumers of marine drybulk transportation services. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along shipping routes across the world.
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