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

Safe Bulkers (NYSE:SB) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

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

Safe Bulkers Price Performance

Shares of NYSE:SB traded down $0.10 on Tuesday, reaching $3.99. The company’s stock had a trading volume of 577,901 shares, compared to its average volume of 665,597. The company has a 50-day simple moving average of $4.55 and a 200 day simple moving average of $5.09. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market cap of $425.52 million, a P/E ratio of 4.43 and a beta of 0.95. Safe Bulkers has a 52-week low of $3.45 and a 52-week high of $6.33.

Hedge Funds Weigh In On Safe Bulkers

Hedge funds have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise increased its position in shares of Safe Bulkers by 14.4% during the second quarter. Banque Cantonale Vaudoise now owns 16,863 shares of the shipping company’s stock worth $98,000 after acquiring an additional 2,129 shares during the period. Verition Fund Management LLC lifted its stake in Safe Bulkers by 27.0% in the third quarter. Verition Fund Management LLC now owns 18,400 shares of the shipping company’s stock worth $95,000 after acquiring an additional 3,913 shares during the period. Price T Rowe Associates Inc. MD increased its position in Safe Bulkers by 26.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,945 shares of the shipping company’s stock valued at $99,000 after purchasing an additional 4,129 shares during the period. Cubist Systematic Strategies LLC raised its holdings in shares of Safe Bulkers by 27.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,567 shares of the shipping company’s stock valued at $149,000 after purchasing an additional 5,572 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Safe Bulkers by 10.3% in the 2nd quarter. Principal Financial Group Inc. now owns 64,745 shares of the shipping company’s stock worth $377,000 after purchasing an additional 6,056 shares during the period. 21.69% of the stock is currently owned by institutional investors.

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.