Zacks Research Upgrades Okeanis Eco Tankers (NYSE:ECO) to “Strong-Buy”

Okeanis Eco Tankers (NYSE:ECO) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

ECO has been the topic of several other research reports. Wall Street Zen lowered Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. B. Riley Financial increased their target price on Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Weiss Ratings lowered Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, March 25th. Finally, Clarkson Capital lowered Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Okeanis Eco Tankers presently has an average rating of “Moderate Buy” and an average price target of $50.02.

Okeanis Eco Tankers Trading Up 4.3%

NYSE:ECO opened at $56.71 on Tuesday. Okeanis Eco Tankers has a 1-year low of $21.27 and a 1-year high of $58.45. The business’s 50-day moving average price is $51.30 and its two-hundred day moving average price is $43.39. The company has a current ratio of 1.70, a quick ratio of 1.56 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 10.02 and a beta of 0.09.

Okeanis Eco Tankers (NYSE:ECO) last released its earnings results on Wednesday, May 13th. The company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.59. Okeanis Eco Tankers had a return on equity of 37.13% and a net margin of 41.26%.The firm had revenue of $170.17 million for the quarter, compared to analyst estimates of $134.02 million. On average, equities analysts expect that Okeanis Eco Tankers will post 9.53 earnings per share for the current year.

Institutional Investors Weigh In On Okeanis Eco Tankers

A number of hedge funds have recently modified their holdings of the business. State of Wyoming raised its position in shares of Okeanis Eco Tankers by 2.6% during the first quarter. State of Wyoming now owns 8,123 shares of the company’s stock worth $411,000 after purchasing an additional 202 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of Okeanis Eco Tankers by 102.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock worth $36,000 after purchasing an additional 532 shares during the period. Fifth Third Bancorp acquired a new stake in shares of Okeanis Eco Tankers during the first quarter worth about $29,000. Quarry LP acquired a new stake in shares of Okeanis Eco Tankers during the third quarter worth about $29,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Okeanis Eco Tankers during the second quarter worth about $25,000.

About Okeanis Eco Tankers

Okeanis Eco Tankers Corp. is a Marshall Islands–incorporated, publicly traded shipping company specializing in the ownership and operation of eco-design product tankers. The company made its debut on the New York Stock Exchange under the ticker “ECO” in May 2019 following an initial public offering. It focuses on the acquisition of newbuilding medium-range (MR) and long-range (LR) product tankers designed to deliver enhanced fuel efficiency and reduced emissions.

As of its public listing, Okeanis Eco Tankers’ fleet comprises twelve eco-efficient vessels built by Hyundai Samho Heavy Industries in South Korea.