Safe Bulkers (NYSE:SB) Rating Increased to Buy at StockNews.com

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

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

Safe Bulkers Trading Up 0.6 %

Shares of Safe Bulkers stock traded up $0.02 during trading hours 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 current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.52. Safe Bulkers has a 1 year low of $3.37 and a 1 year high of $6.33. The firm has a market capitalization of $380.13 million, a price-to-earnings ratio of 3.96 and a beta of 0.93. The firm has a 50 day simple moving average of $3.86 and a two-hundred day simple moving average of $4.60.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SB. Victory Capital Management Inc. bought a new position in Safe Bulkers in the second quarter worth about $104,000. American Century Companies Inc. grew its position in Safe Bulkers by 9.8% in the 2nd quarter. American Century Companies Inc. now owns 1,765,187 shares of the shipping company’s stock valued at $10,273,000 after buying an additional 157,163 shares in the last quarter. Denali Advisors LLC increased its stake in shares of Safe Bulkers by 316.6% during the second quarter. Denali Advisors LLC now owns 418,300 shares of the shipping company’s stock valued at $2,435,000 after acquiring an additional 317,900 shares during the period. Cubist Systematic Strategies LLC raised its holdings in Safe Bulkers by 27.9% during the second quarter. Cubist Systematic Strategies LLC now owns 25,567 shares of the shipping company’s stock worth $149,000 after purchasing an additional 5,572 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Safe Bulkers by 5.5% in the 2nd quarter. AQR Capital Management LLC now owns 280,999 shares of the shipping company’s stock worth $1,635,000 after buying an additional 14,589 shares in the last quarter. Institutional investors 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.