Zacks Investment Research Downgrades DHT Holdings, Inc. (DHT) to Sell

DHT Holdings, Inc. (NYSE:DHT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

According to Zacks, “DHT MARITIME INC., formerly Double Hull Tankers, Inc. operates a fleet of double-hull crude oil tankers on international routes. DHT’s modern fleet consists of three Very Large Crude Carriers, two Suezmax tankers and four Aframax tankers. DHT intends to pursue a strategy of providing shareholders with a stable and visible distribution and also position the Company to use its incremental cash flow to fund future growth opportunities. “

DHT has been the topic of several other research reports. BidaskClub lowered DHT Holdings from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. Jefferies Group LLC reaffirmed a “buy” rating on shares of DHT Holdings in a research report on Thursday, October 19th. ValuEngine raised DHT Holdings from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $5.25 price target on shares of DHT Holdings in a research report on Friday, July 7th. Finally, Maxim Group set a $7.00 price target on DHT Holdings and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $6.00.

Shares of DHT Holdings (DHT) opened at 3.89 on Wednesday. The company has a 50 day moving average price of $3.99 and a 200 day moving average price of $4.15. The company’s market cap is $553.73 million. DHT Holdings has a 52 week low of $3.29 and a 52 week high of $5.20.

DHT Holdings (NYSE:DHT) last announced its earnings results on Tuesday, August 8th. The shipping company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.02. The business had revenue of $59.63 million for the quarter, compared to analyst estimates of $58.47 million. DHT Holdings had a positive return on equity of 6.07% and a negative net margin of 12.48%. On average, equities analysts expect that DHT Holdings will post $0.21 earnings per share for the current year.

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Several large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its position in shares of DHT Holdings by 2.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,838,331 shares of the shipping company’s stock worth $35,037,000 after purchasing an additional 172,294 shares during the last quarter. State Street Corp increased its position in shares of DHT Holdings by 15.7% during the 2nd quarter. State Street Corp now owns 2,388,793 shares of the shipping company’s stock worth $9,911,000 after purchasing an additional 323,923 shares during the last quarter. Morgan Stanley increased its position in shares of DHT Holdings by 2.8% during the 1st quarter. Morgan Stanley now owns 1,212,305 shares of the shipping company’s stock worth $5,419,000 after purchasing an additional 32,683 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of DHT Holdings by 525.0% during the 1st quarter. Alliancebernstein L.P. now owns 773,780 shares of the shipping company’s stock worth $3,459,000 after purchasing an additional 649,980 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of DHT Holdings by 2.2% during the 2nd quarter. California Public Employees Retirement System now owns 691,858 shares of the shipping company’s stock worth $2,871,000 after acquiring an additional 15,000 shares during the period. 33.58% of the stock is currently owned by hedge funds and other institutional investors.

About DHT Holdings

DHT Holdings, Inc operates a fleet of crude oil tankers. As of March 21, 2017, the Company’s fleet consisted of 21 crude oil tankers in operation. As of March 21, 2017, the Company’s fleet consisted of 19 very large crude carriers (VLCCs), which are tankers ranging in size from 200,000 to 320,000 deadweight tons (dwt), and two Aframax tankers (Aframaxes), which are tankers ranging in size from 80,000 to 120,000 dwt.

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