SEACOR Holdings, Inc. (NYSE:CKH) Raised to Buy at Zacks Investment Research

SEACOR Holdings, Inc. (NYSE:CKH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, November 8th. The brokerage currently has a $55.00 price target on the oil and gas company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 14.46% from the stock’s previous close.

According to Zacks, “SEACOR and its subsidiaries are engaged in the operation of a diversified fleet of offshore support vessels that service oil and gas exploration and development activities in the U.S. Gulf of Mexico, the North Sea, West Africa, Asia, Latin America and other international regions. Other business activities primarily include environmental services, inland river operations, and offshore aviation services. “

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus set a $40.00 price objective on shares of SEACOR and gave the company a “buy” rating in a research report on Monday, August 7th. Credit Suisse Group boosted their price objective on shares of SEACOR from $36.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $50.33.

Shares of SEACOR (CKH) traded up $0.16 during mid-day trading on Wednesday, hitting $48.05. 75,539 shares of the stock traded hands, compared to its average volume of 161,186. SEACOR has a one year low of $28.87 and a one year high of $51.59. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.09 and a quick ratio of 2.07.

In other news, Vice Chairman Oivind Lorentzen sold 20,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $49.39, for a total value of $987,800.00. Following the sale, the insider now directly owns 41,175 shares of the company’s stock, valued at approximately $2,033,633.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Bruce Weins sold 800 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $50.50, for a total transaction of $40,400.00. Following the completion of the transaction, the chief financial officer now owns 13,360 shares in the company, valued at approximately $674,680. The disclosure for this sale can be found here. Insiders have sold a total of 116,459 shares of company stock worth $5,846,567 over the last three months. Insiders own 10.47% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue grew its stake in SEACOR by 80.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,226 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 1,436 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of SEACOR during the 3rd quarter worth approximately $111,000. Municipal Employees Retirement System of Michigan grew its position in shares of SEACOR by 3.3% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,800 shares of the oil and gas company’s stock worth $130,000 after purchasing an additional 120 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of SEACOR by 45.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,114 shares of the oil and gas company’s stock worth $175,000 after purchasing an additional 1,594 shares in the last quarter. Finally, Pacad Investment Ltd. acquired a new position in shares of SEACOR during the 2nd quarter worth approximately $185,000. Institutional investors and hedge funds own 89.15% of the company’s stock.

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About SEACOR

SEACOR Holdings Inc, is engaged in the business of transportation and logistics, alcohol manufacturing, merchandising, and risk management consultancy. The Company’s segments include, Inland River Services, Shipping Services and Illinois Corn Processing. Inland River Services segment operates river transportation equipment used for moving agricultural and industrial commodities and petroleum and chemical products.

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