Genco Shipping & Trading Limited (NYSE:GNK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Genco Shipping & Trading Limited (NYSE:GNK) has been assigned an average rating of “Moderate Buy” from the five analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $24.20.

Several research analysts recently issued reports on the stock. Stifel Nicolaus cut shares of 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. StockNews.com lowered Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $25.00 target price on shares of Genco Shipping & Trading in a research note on Thursday, November 7th.

Genco Shipping & Trading Price Performance

Shares of NYSE:GNK opened at $14.62 on Friday. The company has a current ratio of 3.09, a quick ratio of 2.49 and a debt-to-equity ratio of 0.08. Genco Shipping & Trading has a twelve month low of $13.51 and a twelve month high of $23.43. The company’s 50 day moving average is $14.35 and its 200 day moving average is $16.24. The company has a market cap of $624.98 million, a PE ratio of 9.31, a price-to-earnings-growth ratio of 5.57 and a beta of 0.97.

Institutional Investors Weigh In On Genco Shipping & Trading

A number of institutional investors have recently modified their holdings of the business. Teacher Retirement System of Texas acquired a new position in Genco Shipping & Trading in the 4th quarter worth about $3,692,000. Charles Schwab Investment Management Inc. raised its stake in shares of Genco Shipping & Trading by 70.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 530,523 shares of the shipping company’s stock worth $10,345,000 after buying an additional 219,907 shares during the period. Barclays PLC lifted its position in shares of Genco Shipping & Trading by 173.3% during the 4th quarter. Barclays PLC now owns 282,603 shares of the shipping company’s stock valued at $3,940,000 after buying an additional 179,216 shares in the last quarter. JPMorgan Chase & Co. grew its stake 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 during the period. Finally, Royce & Associates LP increased its holdings in Genco Shipping & Trading by 43.1% in the 3rd quarter. Royce & Associates LP now owns 482,687 shares of the shipping company’s stock worth $9,412,000 after acquiring an additional 145,471 shares in the last quarter. 58.62% of the stock is currently owned by institutional investors and hedge funds.

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.