Wall Street Zen Upgrades Navios Maritime Partners (NYSE:NMM) to Strong-Buy

Navios Maritime Partners (NYSE:NMM) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

Separately, Weiss Ratings upgraded shares of Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, March 17th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy”.

Navios Maritime Partners Stock Down 3.3%

NMM stock opened at $64.63 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.56. The business has a 50 day moving average price of $62.61 and a two-hundred day moving average price of $54.24. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 6.73 and a beta of 1.31. Navios Maritime Partners has a twelve month low of $28.37 and a twelve month high of $74.21.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings data on Thursday, February 19th. The shipping company reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.99. The company had revenue of $365.55 million for the quarter, compared to analysts’ expectations of $316.00 million. Navios Maritime Partners had a return on equity of 9.17% and a net margin of 21.23%.The business’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.61 EPS. Analysts anticipate that Navios Maritime Partners will post 12.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NMM. Royal Bank of Canada increased its holdings in shares of Navios Maritime Partners by 50.9% during the 4th quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock worth $32,000 after acquiring an additional 202 shares during the last quarter. Allworth Financial LP acquired a new stake in Navios Maritime Partners during the 2nd quarter valued at $47,000. TD Waterhouse Canada Inc. bought a new position in Navios Maritime Partners during the second quarter worth $62,000. State of Wyoming acquired a new position in shares of Navios Maritime Partners in the fourth quarter valued at $137,000. Finally, Corient Private Wealth LLC acquired a new position in shares of Navios Maritime Partners in the fourth quarter valued at $207,000. 62.74% of the stock is currently owned by institutional investors.

About Navios Maritime Partners

Navios Maritime Partners L.P. (NYSE: NMM) is a dry bulk shipping company that owns and operates a fleet of Capesize, Panamax and Supramax vessels. The partnership charters its vessels under medium- and long-term contracts to a diverse group of charterers, providing seaborne transportation for major bulk cargoes such as iron ore, coal, grain and fertilizers. Through this asset-light model, Navios Maritime Partners seeks to generate stable cash flows while retaining flexibility to capitalize on market opportunities.

Formed in November 2007 and sponsored by Navios Maritime Holdings Inc, the partnership leverages the operating platform and commercial management capabilities of the Navios group.