Euronav (NYSE:EURN) Raised to Hold at Zacks Investment Research

Euronav (NYSE:EURN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday, 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. “

Other equities analysts have also issued research reports about the company. Evercore ISI reissued a “buy” rating and issued a $16.00 target price on shares of Euronav in a research note on Monday, August 12th. ValuEngine lowered Euronav from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $11.83.

NYSE:EURN traded up $0.36 during mid-day trading on Monday, hitting $7.92. The company had a trading volume of 398,300 shares, compared to its average volume of 397,940. Euronav has a fifty-two week low of $6.77 and a fifty-two week high of $10.22. The business’s fifty day moving average is $8.53 and its two-hundred day moving average is $8.61. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.19 and a current ratio of 1.53. The firm has a market cap of $1.62 billion, a P/E ratio of -12.18 and a beta of 0.96.

Institutional investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC bought a new stake in shares of Euronav in the second quarter worth about $25,000. Aperio Group LLC bought a new stake in shares of Euronav in the second quarter worth about $68,000. Bienville Capital Management LLC bought a new stake in shares of Euronav in the first quarter worth about $82,000. Albert D Mason Inc. bought a new stake in shares of Euronav in the second quarter worth about $99,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in shares of Euronav in the second quarter worth about $104,000. Institutional investors own 28.65% of the company’s stock.

Euronav Company Profile

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.

Further Reading: How is a price target determined?

Get a free copy of the Zacks research report on Euronav (EURN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Euronav (NYSE:EURN)

Receive News & Ratings for Euronav Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Euronav and related companies with MarketBeat.com's FREE daily email newsletter.