Safe Bulkers, Inc (SB) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Safe Bulkers, Inc (NYSE:SB) from a sell rating to a hold rating in a research report report published on Thursday morning.

According to Zacks, “SAFE BULKERS is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly grain, iron ore and coal, along worldwide shipping routes for some of the world’s largest consumers of marine drybulk transportation services. “

SB has been the subject of several other research reports. Maxim Group set a $5.00 price objective on shares of Safe Bulkers and gave the company a buy rating in a research note on Thursday, October 19th. BidaskClub cut shares of Safe Bulkers from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Jefferies Group LLC reiterated a hold rating and issued a $2.50 price objective on shares of Safe Bulkers in a research note on Tuesday, July 4th. Finally, Stifel Nicolaus set a $2.00 price objective on shares of Safe Bulkers and gave the company a hold rating in a research note on Saturday, October 21st. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $3.13.

Shares of Safe Bulkers (NYSE:SB) opened at 3.45 on Thursday. Safe Bulkers has a 1-year low of $1.09 and a 1-year high of $3.65. The stock’s 50 day moving average is $3.13 and its 200-day moving average is $2.62. The stock’s market cap is $349.70 million.

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A number of institutional investors and hedge funds have recently made changes to their positions in SB. Rhumbline Advisers acquired a new position in Safe Bulkers during the second quarter worth about $117,000. New York State Common Retirement Fund acquired a new position in Safe Bulkers during the second quarter worth about $117,000. Engineers Gate Manager LP acquired a new position in Safe Bulkers during the second quarter worth about $131,000. Credit Suisse AG acquired a new position in Safe Bulkers during the first quarter worth about $140,000. Finally, Schwab Charles Investment Management Inc. acquired a new position in Safe Bulkers during the second quarter worth about $190,000. Institutional investors own 19.00% of the company’s stock.

Safe Bulkers Company Profile

Safe Bulkers, Inc is a holding company. The Company’s principal business is the acquisition, ownership and operation of drybulk vessels. The Company’s vessels operate across the world, carrying drybulk cargo for the consumers of marine drybulk transportation services. The Company is an international provider of marine drybulk transportation services, transporting bulk cargoes, particularly coal, grain and iron ore, along shipping routes across the world.

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