Okeanis Eco Tankers (NYSE:ECO) Rating Lowered to Hold at Zacks Research

Okeanis Eco Tankers (NYSE:ECO) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

ECO has been the topic of several other reports. B. Riley Financial raised their price target on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Wall Street Zen cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Clarkson Capital lowered Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Okeanis Eco Tankers in a report on Thursday, June 18th. Finally, Pareto Securities downgraded Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 price objective for the company. in a research report on Monday, May 25th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Okeanis Eco Tankers presently has an average rating of “Hold” and an average target price of $51.89.

Okeanis Eco Tankers Price Performance

Shares of NYSE:ECO opened at $56.77 on Monday. The business has a 50 day moving average price of $52.57 and a 200 day moving average price of $47.77. Okeanis Eco Tankers has a twelve month low of $22.38 and a twelve month high of $58.45. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 10.03 and a beta of -0.07. The company has a quick ratio of 1.56, a current ratio of 1.70 and a debt-to-equity ratio of 0.75.

Okeanis Eco Tankers (NYSE:ECO) last released its earnings results on Wednesday, May 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.59. Okeanis Eco Tankers had a return on equity of 37.13% and a net margin of 41.26%.The firm had revenue of $170.16 million for the quarter, compared to analyst estimates of $134.02 million. Research analysts predict that Okeanis Eco Tankers will post 9.53 earnings per share for the current year.

Hedge Funds Weigh In On Okeanis Eco Tankers

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets acquired a new position in Okeanis Eco Tankers during the second quarter worth $25,000. Fifth Third Bancorp bought a new stake in shares of Okeanis Eco Tankers in the 1st quarter worth about $29,000. Quarry LP bought a new position in Okeanis Eco Tankers during the 3rd quarter valued at about $29,000. Caitong International Asset Management Co. Ltd lifted its holdings in Okeanis Eco Tankers by 102.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock valued at $36,000 after purchasing an additional 532 shares during the last quarter. Finally, State of Wyoming acquired a new position in Okeanis Eco Tankers in the second quarter valued at about $107,000.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp. is a Marshall Islands–incorporated, publicly traded shipping company specializing in the ownership and operation of eco-design product tankers. The company made its debut on the New York Stock Exchange under the ticker “ECO” in May 2019 following an initial public offering. It focuses on the acquisition of newbuilding medium-range (MR) and long-range (LR) product tankers designed to deliver enhanced fuel efficiency and reduced emissions.

As of its public listing, Okeanis Eco Tankers’ fleet comprises twelve eco-efficient vessels built by Hyundai Samho Heavy Industries in South Korea.