Ship Finance International (NYSE:SFL) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Ship Finance International (NYSE:SFL) from a hold rating to a buy rating in a research note issued to investors on Wednesday, Zacks.com reports. The firm currently has $15.00 target price on the shipping company’s stock.

According to Zacks, “Ship Finance is a major shipowning company. Including newbuildings, Ship Finance owns a fleet consisting of vessels, including crude oil tankers (VLCC and Suezmax), oil/bulk/ore vessels, container vessels, dry bulk carriers, jack-up drilling rigs and seismic vessels. The fleet is one of the largest in the world and most of the vessels are employed on medium- or long-term charters. “

Other equities analysts also recently issued reports about the company. ValuEngine upgraded Ship Finance International from a sell rating to a hold rating in a research report on Friday, July 26th. TheStreet upgraded Ship Finance International from a c rating to a b- rating in a research report on Tuesday, May 21st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Ship Finance International has an average rating of Buy and an average price target of $13.33.

NYSE SFL traded down $0.08 during trading hours on Wednesday, hitting $13.00. 404,727 shares of the company’s stock were exchanged, compared to its average volume of 477,726. The stock has a 50 day simple moving average of $12.69. Ship Finance International has a 12-month low of $10.31 and a 12-month high of $15.10. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 12.62 and a beta of 1.28. The company has a quick ratio of 1.29, a current ratio of 1.32 and a debt-to-equity ratio of 1.99.

Ship Finance International (NYSE:SFL) last released its earnings results on Tuesday, May 21st. The shipping company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. Ship Finance International had a return on equity of 9.35% and a net margin of 18.64%. The firm had revenue of $116.54 million for the quarter, compared to the consensus estimate of $116.35 million. During the same period in the prior year, the business posted $0.24 earnings per share. On average, research analysts anticipate that Ship Finance International will post 0.83 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in SFL. Manchester Financial Inc. acquired a new stake in Ship Finance International during the second quarter worth about $25,000. Joseph P. Lucia & Associates LLC acquired a new stake in Ship Finance International during the second quarter worth about $41,000. Baldwin Brothers Inc. MA increased its stake in Ship Finance International by 416.7% during the second quarter. Baldwin Brothers Inc. MA now owns 6,200 shares of the shipping company’s stock worth $78,000 after acquiring an additional 5,000 shares during the last quarter. Aperio Group LLC acquired a new stake in Ship Finance International during the second quarter worth about $103,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Ship Finance International by 63.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 9,911 shares of the shipping company’s stock worth $122,000 after acquiring an additional 3,836 shares during the last quarter. Institutional investors own 28.36% of the company’s stock.

Ship Finance International Company Profile

Ship Finance International Ltd. engages in the ownership and operation of vessels and offshore related assets. It also involves in the charter, purchase, and sale of assets. Its assets include oil tankers, dry bulk carriers, container vessels, car carriers, jack-up drilling rig, ultra-deepwater drilling units, offshore supply vessels, and chemical tankers.

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