Safe Bulkers (NYSE:SB) Stock Rating Upgraded by StockNews.com

Safe Bulkers (NYSE:SB) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

Separately, Jefferies Financial Group reiterated a “buy” rating and set a $6.00 price target on shares of Safe Bulkers in a report on Thursday, November 14th.

Safe Bulkers Price Performance

Shares of NYSE:SB traded up $0.02 during trading on Monday, reaching $3.56. The stock had a trading volume of 379,438 shares, compared to its average volume of 701,333. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.34 and a current ratio of 1.34. Safe Bulkers has a 1-year low of $3.37 and a 1-year high of $6.33. The stock has a market cap of $380.13 million, a PE ratio of 3.96 and a beta of 0.93. The business has a fifty day moving average price of $3.86 and a 200-day moving average price of $4.60.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Barclays PLC increased its stake in Safe Bulkers by 83.4% in the third quarter. Barclays PLC now owns 125,238 shares of the shipping company’s stock valued at $648,000 after purchasing an additional 56,946 shares during the period. Walleye Capital LLC purchased a new stake in shares of Safe Bulkers during the 3rd quarter worth approximately $1,109,000. Franklin Resources Inc. boosted its position in Safe Bulkers by 107.0% during the third quarter. Franklin Resources Inc. now owns 82,417 shares of the shipping company’s stock worth $427,000 after purchasing an additional 42,598 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Safe Bulkers in the 3rd quarter valued at about $1,480,000. Finally, State Street Corp grew its position in shares of Safe Bulkers by 1.8% in the third quarter. State Street Corp now owns 1,653,002 shares of the shipping company’s stock valued at $8,563,000 after purchasing an additional 29,178 shares during 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.