Okeanis Eco Tankers (NYSE:ECO) Stock Rating Lowered by Zacks Research

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

ECO has been the topic of a number of other reports. B. Riley Financial increased their price objective on shares of Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Wall Street Zen cut shares of Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. Pareto Securities downgraded shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 target price for the company. in a research note on Monday, May 25th. Clarkson Capital lowered Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Okeanis Eco Tankers in a research note on Thursday, June 18th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $51.89.

Okeanis Eco Tankers Stock Up 4.7%

ECO stock opened at $56.77 on Monday. The company’s 50 day moving average price is $52.57 and its 200 day moving average price is $47.77. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.56 and a current ratio of 1.70. Okeanis Eco Tankers has a fifty-two week low of $22.38 and a fifty-two week high of $58.45. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 10.03 and a beta of -0.07.

Okeanis Eco Tankers (NYSE:ECO) last issued 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 net margin of 41.26% and a return on equity of 37.13%. The firm had revenue of $170.16 million for the quarter, compared to analysts’ expectations of $134.02 million. On average, equities research analysts anticipate that Okeanis Eco Tankers will post 9.53 EPS for the current fiscal year.

Institutional Trading of Okeanis Eco Tankers

Several institutional investors have recently modified their holdings of ECO. Fifth Third Bancorp purchased a new position in shares of Okeanis Eco Tankers in the 1st quarter valued at $29,000. Quarry LP acquired a new stake in Okeanis Eco Tankers during the 3rd quarter worth $29,000. Caitong International Asset Management Co. Ltd lifted its position in Okeanis Eco Tankers by 102.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company’s stock valued at $36,000 after acquiring an additional 532 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in Okeanis Eco Tankers in the second quarter valued at $25,000. Finally, Royal Bank of Canada boosted its stake in Okeanis Eco Tankers by 29,762.5% in the first quarter. Royal Bank of Canada now owns 2,389 shares of the company’s stock valued at $121,000 after acquiring an additional 2,381 shares in the last quarter.

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.