Navios Maritime Holdings Inc. (NM) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Navios Maritime Holdings Inc. (NYSE:NM) from a hold rating to a buy rating in a research report report published on Tuesday morning. The brokerage currently has $2.00 price objective on the shipping company’s stock.

According to Zacks, “Navios Maritime Holdings Inc. is a seaborne shipping and logistics company engaged in the transport and transshipment of drybulk commodities including iron ore, coal and grain. It operates in three segments: Drybulk Vessel Operations, Tanker Vessel Operations and Logistics Business. The Company also engages in operating ports and transfer station terminals and handles vessels, barges, and push boats, as well as operates upriver transport facilities in the Hidrovia region. Navios Maritime Holdings Inc. is headquartered in Piraeus, Greece. “

A number of other research analysts have also issued reports on NM. ValuEngine lowered shares of Navios Maritime Holdings from a hold rating to a sell rating in a research note on Saturday, July 22nd. Clarkson Capital lowered shares of Navios Maritime Holdings from a buy rating to a neutral rating in a research note on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $1.63.

Shares of Navios Maritime Holdings (NM) traded down $0.05 during trading on Tuesday, hitting $1.76. The company’s stock had a trading volume of 292,968 shares, compared to its average volume of 478,096.

Navios Maritime Holdings (NYSE:NM) last posted its earnings results on Tuesday, August 22nd. The shipping company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.04. Navios Maritime Holdings had a negative net margin of 22.05% and a negative return on equity of 14.37%. The business had revenue of $118.60 million for the quarter, compared to analyst estimates of $114.27 million. During the same period last year, the business posted ($0.29) EPS. Navios Maritime Holdings’s revenue was up 12.2% compared to the same quarter last year. research analysts anticipate that Navios Maritime Holdings will post -0.82 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of NM. Rhumbline Advisers acquired a new stake in Navios Maritime Holdings in the 2nd quarter worth $107,000. New York State Common Retirement Fund acquired a new stake in Navios Maritime Holdings in the 2nd quarter worth $131,000. California State Teachers Retirement System acquired a new stake in Navios Maritime Holdings in the 2nd quarter worth $218,000. Schwab Charles Investment Management Inc. acquired a new stake in Navios Maritime Holdings in the 2nd quarter worth $232,000. Finally, Vanguard Group Inc. acquired a new stake in Navios Maritime Holdings in the 2nd quarter worth $248,000. Institutional investors own 21.08% of the company’s stock.

About Navios Maritime Holdings

Navios Maritime Holdings Inc (Navios Holdings) is a global, vertically integrated seaborne shipping and logistics company. The Company is focused on the transport and transshipment of dry bulk commodities, including iron ore, coal and grain. It operates through two segments: the Dry bulk Vessel Operations and the Logistics Business.

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