Zacks Investment Research upgraded shares of COSCO SHIPPING (OTCMKTS:CICOY) from a hold rating to a buy rating in a report published on Thursday, Zacks.com reports. The firm currently has $9.00 price target on the stock.
According to Zacks, “China COSCO Holdings Company Limited is engaged in providing container shipping, dry bulk shipping, logistics services, terminal and container leasing for both international and domestic customers. The company engages in the management and operation of container terminals; provision of integrated logistics services, including third party logistics shipping agency and freight forwarding; and container manufacturing business. China COSCO Holdings Company Limited is based in Tianjin, the People’s Republic of China. “
OTCMKTS:CICOY traded up $0.20 during midday trading on Thursday, reaching $8.27. 1,918 shares of the stock traded hands, compared to its average volume of 3,859. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.90 and a current ratio of 0.95. The company has a fifty day moving average of $6.49 and a 200 day moving average of $5.22. The stock has a market capitalization of $16.90 billion, a P/E ratio of 103.38 and a beta of 1.71. COSCO SHIPPING has a 12 month low of $1.21 and a 12 month high of $8.80.
COSCO SHIPPING Holdings Co, Ltd., an investment holding company, engages in the container shipping, container terminals, and other businesses in the United States, Europe, the Asia Pacific, Mainland China, and internationally. The company operates through Container Shipping Business, Container Terminal Business, and Corporate and Other Operations segments.
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