Navios Maritime Partners (NMM) Rating Increased to Hold at Zacks Investment Research

Navios Maritime Partners (NYSE:NMM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Navios Maritime Partners L.P. is an international owner and operator of dry cargo vessels. It engages in the seaborne transportation services of drybulk commodities including iron ore, coal, grains, fertilizers and chartering of its vessels under medium to long-term charters. Navios Maritime Partners L.P. is headquartered in Piraeus, Greece. “

Several other equities analysts have also issued reports on NMM. Citigroup lifted their target price on shares of Navios Maritime Partners from $2.00 to $2.25 and gave the company a “neutral” rating in a report on Thursday, November 16th. TheStreet upgraded shares of Navios Maritime Partners from a “d+” rating to a “c-” rating in a report on Wednesday, November 15th. Jefferies Group initiated coverage on shares of Navios Maritime Partners in a research report on Monday, December 18th. They set a “buy” rating and a $2.00 price target for the company. Finally, JPMorgan Chase & Co. downgraded shares of Navios Maritime Partners from an “overweight” rating to a “hold” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $2.19.

Navios Maritime Partners (NYSE:NMM) opened at $2.35 on Wednesday. Navios Maritime Partners has a 1-year low of $1.45 and a 1-year high of $2.65. The stock has a market cap of $354.41, a P/E ratio of 235.00 and a beta of 1.84. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.60.

Navios Maritime Partners (NYSE:NMM) last released its earnings results on Tuesday, November 14th. The shipping company reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.02. Navios Maritime Partners had a net margin of 2.79% and a return on equity of 2.53%. sell-side analysts predict that Navios Maritime Partners will post 0.11 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in NMM. Virtu KCG Holdings LLC increased its position in shares of Navios Maritime Partners by 1.5% during the second quarter. Virtu KCG Holdings LLC now owns 92,494 shares of the shipping company’s stock valued at $147,000 after acquiring an additional 1,324 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Navios Maritime Partners during the second quarter valued at approximately $188,000. Macquarie Group Ltd. bought a new stake in shares of Navios Maritime Partners during the third quarter valued at approximately $320,000. Sound Point Capital Management LP increased its position in shares of Navios Maritime Partners by 7.7% during the second quarter. Sound Point Capital Management LP now owns 1,094,891 shares of the shipping company’s stock valued at $1,741,000 after acquiring an additional 78,743 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Navios Maritime Partners by 17.6% during the third quarter. JPMorgan Chase & Co. now owns 1,516,136 shares of the shipping company’s stock valued at $3,184,000 after acquiring an additional 226,982 shares in the last quarter. 15.31% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: This article was first posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this article can be viewed at https://www.com-unik.info/2018/01/17/navios-maritime-partners-nmm-rating-increased-to-hold-at-zacks-investment-research.html.

About Navios Maritime Partners

Navios Maritime Partners L.P. is an international owner and operator of dry cargo and container vessels. The Company is engaged in the seaborne transportation services of a range of dry cargo commodities, including iron ore, coal, grain and fertilizer, and also containers, chartering its vessels under medium to long-term charters.

Get a free copy of the Zacks research report on Navios Maritime Partners (NMM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Navios Maritime Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navios Maritime Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit