Zacks Investment Research upgraded shares of Euronav NV (NASDAQ:EURN) from a hold rating to a buy rating in a research report report published on Tuesday, July 11th. Zacks Investment Research currently has $8.50 price target on the shipping company’s stock.
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. “
Other research analysts also recently issued research reports about the stock. Stifel Nicolaus reaffirmed a hold rating and set a $8.00 price objective on shares of Euronav NV in a research note on Friday, July 7th. ValuEngine downgraded shares of Euronav NV from a buy rating to a hold rating in a research note on Friday, June 2nd. Finally, BidaskClub upgraded Euronav NV from a strong sell rating to a sell rating in a report on Friday, June 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $9.50.
Euronav NV (NASDAQ:EURN) opened at 7.75 on Tuesday. Euronav NV has a 52 week low of $6.65 and a 52 week high of $9.51. The stock has a market cap of $1.23 billion and a price-to-earnings ratio of 9.82. The firm’s 50-day moving average is $7.77 and its 200 day moving average is $7.85.
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A number of institutional investors have recently added to or reduced their stakes in the company. Lingohr & Partner Asset Management GmbH boosted its position in Euronav NV by 25.8% in the first quarter. Lingohr & Partner Asset Management GmbH now owns 1,640,365 shares of the shipping company’s stock valued at $12,959,000 after buying an additional 336,932 shares during the period. Parametric Portfolio Associates LLC boosted its position in Euronav NV by 88.2% in the first quarter. Parametric Portfolio Associates LLC now owns 28,265 shares of the shipping company’s stock valued at $223,000 after buying an additional 13,247 shares during the period. Cedar Capital LLC boosted its position in Euronav NV by 81.3% in the first quarter. Cedar Capital LLC now owns 329,597 shares of the shipping company’s stock valued at $2,604,000 after buying an additional 147,782 shares during the period. Yorktown Management & Research Co Inc acquired a new position in Euronav NV during the first quarter valued at approximately $198,000. Finally, Swiss National Bank boosted its position in Euronav NV by 2.8% in the first quarter. Swiss National Bank now owns 209,883 shares of the shipping company’s stock valued at $1,681,000 after buying an additional 5,691 shares during the period.
Euronav NV Company Profile
Euronav NV, together with its subsidiaries, owns, operates, and manages a fleet of vessels for the ocean 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 April 4, 2017, it owned and operated a fleet of 55 double hulled vessels, including 31 very large crude carriers, 1 V-Plus vessel, 19 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 2 Suezmax vessels under construction.
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