Safe Bulkers (SB) Lowered by Zacks Investment Research to Sell – BharataPress

Zacks Investment Research downgraded shares of Safe Bulkers (NYSE:SB) from a hold rating to a sell rating in a research report sent to investors on Friday.

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. “

Several other research firms also recently commented on SB. Evercore ISI raised shares of Safe Bulkers from an in-line rating to an outperform rating and upped their price objective for the company from $4.00 to $4.50 in a report on Thursday, October 18th. They noted that the move was a valuation call. Jefferies Financial Group raised shares of Safe Bulkers from a hold rating to a buy rating and set a $4.00 price objective on the stock in a report on Friday, November 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Safe Bulkers presently has an average rating of Hold and an average price target of $4.21.

NYSE:SB traded down $0.01 during trading hours on Friday, hitting $1.99. 344,056 shares of the company were exchanged, compared to its average volume of 269,230. The company has a market cap of $203.11 million, a PE ratio of -12.44 and a beta of 1.96. Safe Bulkers has a 52-week low of $1.61 and a 52-week high of $3.99. The compan....

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