Safe Bulkers (NYSE:SB) Hits New 52-Week High – Time to Buy?

Safe Bulkers, Inc (NYSE:SB)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $4.86 and last traded at $4.9220, with a volume of 60418 shares. The stock had previously closed at $4.78.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SB shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Safe Bulkers in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Safe Bulkers from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4.47.

Safe Bulkers Trading Up 3.9%

The business’s fifty day moving average is $4.47 and its 200-day moving average is $4.09. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.70 and a current ratio of 1.70. The firm has a market cap of $508.02 million, a P/E ratio of 11.55 and a beta of 1.23.

Institutional Trading of Safe Bulkers

Institutional investors have recently added to or reduced their stakes in the business. Regatta Capital Group LLC purchased a new stake in shares of Safe Bulkers in the second quarter worth $36,000. Tower Research Capital LLC TRC grew its holdings in shares of Safe Bulkers by 73.4% in the second quarter. Tower Research Capital LLC TRC now owns 11,088 shares of the shipping company’s stock worth $40,000 after purchasing an additional 4,692 shares during the last quarter. Cetera Investment Advisers bought a new position in shares of Safe Bulkers during the second quarter valued at approximately $41,000. Evergreen Capital Management LLC acquired a new stake in Safe Bulkers in the second quarter valued at approximately $46,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Safe Bulkers during the first quarter valued at $49,000. 21.69% of the stock is currently owned by hedge funds and other institutional investors.

Safe Bulkers Company Profile

Safe Bulkers, Inc, together with its subsidiaries, provides marine drybulk transportation services. It owns and operates drybulk vessels for transporting bulk cargoes primarily coal, grain, and iron ore. The company has a fleet of 47 drybulk vessels having an aggregate carrying capacity of 4,719,600 deadweight tons.