Genco Shipping & Trading (NYSE:GNK) Price Target Cut to $19.00 by Analysts at Jefferies Financial Group

Genco Shipping & Trading (NYSE:GNK) had its target price dropped by stock analysts at Jefferies Financial Group from $20.00 to $19.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the shipping company’s stock. Jefferies Financial Group’s price target suggests a potential upside of 29.98% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. StockNews.com downgraded Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Stifel Nicolaus lowered Genco Shipping & Trading from a “buy” rating to a “hold” rating and reduced their price target for the stock from $26.00 to $17.00 in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Genco Shipping & Trading currently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Genco Shipping & Trading Trading Down 1.6 %

NYSE GNK opened at $14.62 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.49 and a current ratio of 3.09. Genco Shipping & Trading has a one year low of $13.51 and a one year high of $23.43. The company’s 50 day moving average price is $14.32 and its 200 day moving average price is $16.16. The firm has a market capitalization of $625.07 million, a price-to-earnings ratio of 9.31, a PEG ratio of 5.69 and a beta of 0.97.

Genco Shipping & Trading (NYSE:GNK) last issued its earnings results on Wednesday, February 19th. The shipping company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.27). Genco Shipping & Trading had a net margin of 15.63% and a return on equity of 8.46%. On average, sell-side analysts predict that Genco Shipping & Trading will post 1.69 EPS for the current year.

Institutional Trading of Genco Shipping & Trading

Hedge funds and other institutional investors have recently modified their holdings of the business. Teacher Retirement System of Texas purchased a new position in Genco Shipping & Trading in the fourth quarter valued at about $3,692,000. Charles Schwab Investment Management Inc. boosted 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 valued at $10,345,000 after buying an additional 219,907 shares during the last quarter. Barclays PLC grew its position in shares of Genco Shipping & Trading by 173.3% during the fourth quarter. Barclays PLC now owns 282,603 shares of the shipping company’s stock worth $3,940,000 after buying an additional 179,216 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Genco Shipping & Trading by 155.0% in the third quarter. JPMorgan Chase & Co. now owns 285,091 shares of the shipping company’s stock worth $5,559,000 after buying an additional 173,270 shares during the last quarter. Finally, Royce & Associates LP raised its holdings in Genco Shipping & Trading by 43.1% in the third quarter. Royce & Associates LP now owns 482,687 shares of the shipping company’s stock valued at $9,412,000 after acquiring an additional 145,471 shares in the last quarter. 58.62% of the stock is owned by hedge funds and other institutional investors.

About Genco Shipping & Trading

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.