Nordic American Tanker (NAT) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Nordic American Tanker (NYSE:NAT) from a hold rating to a sell rating in a report released on Tuesday.

According to Zacks, “NORDIC AMERICAN is engaged of acquiring, disposing, owning, leasing, and chartering three double hull Suezmax oil tankers. “

A number of other equities research analysts have also issued reports on NAT. ValuEngine lowered shares of Nordic American Tanker from a sell rating to a strong sell rating in a report on Sunday, December 31st. Seaport Global Securities set a $3.00 target price on shares of Nordic American Tanker and gave the stock a hold rating in a report on Friday, January 5th. Maxim Group reduced their target price on shares of Nordic American Tanker from $3.00 to $2.00 and set a sell rating on the stock in a report on Thursday, December 14th. Jefferies Group upgraded shares of Nordic American Tanker from an underperform rating to a hold rating and set a $3.00 target price on the stock in a report on Thursday, December 14th. Finally, Morgan Stanley reduced their target price on shares of Nordic American Tanker from $6.50 to $5.00 and set an equal weight rating on the stock in a report on Wednesday, November 8th. Five analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $4.86.

Nordic American Tanker (NYSE NAT) traded down $0.01 during trading hours on Tuesday, hitting $2.63. 1,512,663 shares of the company were exchanged, compared to its average volume of 2,940,000. The stock has a market cap of $373.32, a PE ratio of -2.89 and a beta of 0.89. Nordic American Tanker has a 1 year low of $2.45 and a 1 year high of $9.39. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.52 and a quick ratio of 2.71.

A number of institutional investors have recently added to or reduced their stakes in the business. TIAA CREF Investment Management LLC raised its holdings in shares of Nordic American Tanker by 0.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 264,049 shares of the shipping company’s stock valued at $1,674,000 after purchasing an additional 922 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Nordic American Tanker by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 343,384 shares of the shipping company’s stock valued at $2,176,000 after purchasing an additional 2,019 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Nordic American Tanker by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 411,778 shares of the shipping company’s stock valued at $2,611,000 after purchasing an additional 3,425 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Nordic American Tanker by 3.8% in the 2nd quarter. Rhumbline Advisers now owns 119,174 shares of the shipping company’s stock valued at $756,000 after purchasing an additional 4,375 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Nordic American Tanker by 37.9% in the 2nd quarter. Principal Financial Group Inc. now owns 16,198 shares of the shipping company’s stock valued at $103,000 after purchasing an additional 4,454 shares in the last quarter. Institutional investors own 16.93% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Nordic American Tanker (NAT) Downgraded to Sell at Zacks Investment Research” was originally posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece on another domain, it was copied illegally and republished in violation of United States and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.dispatchtribunal.com/2018/01/13/nordic-american-tanker-nat-downgraded-to-sell-at-zacks-investment-research.html.

About Nordic American Tanker

Nordic American Tankers Limited is an international tanker company. The Company owns approximately 26 vessels, including approximately two new buildings under construction, of approximately 156,000 deadweight tonnage (dwt) each. The Company’s Suezmaxes tankers can carry over one million barrels of oil.

Analyst Recommendations for Nordic American Tanker (NYSE:NAT)

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

Leave a Reply