Euronav (NYSE:EURN) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Euronav (NYSE:EURN) from a sell rating to a hold rating in a research note released on Monday morning, Zacks.com reports.

According to Zacks, “Euronav is a tanker company. It owns, operates and manages a fleet of vessels for the transportation and storage of crude oil and petroleum products. The company also offers ship management services. It operates primarily in Europe and Asia. Euronav is headquartered in Antwerp, Belgium. “

A number of other research firms have also recently issued reports on EURN. ValuEngine cut shares of Euronav from a buy rating to a hold rating in a report on Thursday, August 1st. Evercore ISI reaffirmed a buy rating and issued a $16.00 price target on shares of Euronav in a report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Euronav presently has a consensus rating of Buy and an average price target of $11.83.

NYSE EURN opened at $8.11 on Monday. The company has a fifty day simple moving average of $8.45 and a two-hundred day simple moving average of $8.61. The stock has a market cap of $1.82 billion, a P/E ratio of -12.48 and a beta of 0.96. Euronav has a 12-month low of $6.77 and a 12-month high of $10.22. The company has a current ratio of 1.53, a quick ratio of 1.17 and a debt-to-equity ratio of 0.69.

Several institutional investors have recently modified their holdings of the stock. Mraz Amerine & Associates Inc. raised its holdings in shares of Euronav by 5.3% during the first quarter. Mraz Amerine & Associates Inc. now owns 39,899 shares of the shipping company’s stock worth $325,000 after purchasing an additional 2,000 shares during the last quarter. Ellington Management Group LLC raised its holdings in shares of Euronav by 16.9% during the second quarter. Ellington Management Group LLC now owns 14,500 shares of the shipping company’s stock worth $137,000 after purchasing an additional 2,100 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Euronav during the second quarter worth $25,000. A.R.T. Advisors LLC raised its holdings in shares of Euronav by 8.2% during the second quarter. A.R.T. Advisors LLC now owns 43,610 shares of the shipping company’s stock worth $412,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its holdings in shares of Euronav by 39.6% during the second quarter. Campbell & CO Investment Adviser LLC now owns 22,757 shares of the shipping company’s stock worth $215,000 after purchasing an additional 6,460 shares during the last quarter. 28.65% of the stock is owned by hedge funds and other institutional investors.

About Euronav

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil and petroleum products worldwide. The company operates through two segments, Tankers; and Floating Production, Storage, and Offloading Operations. As of December 12, 2018, it owned and operated a fleet of vessels, including 43 very large crude carriers, 2 ULCCs, 26 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 1 LR1s.

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Analyst Recommendations for Euronav (NYSE:EURN)

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