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

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

A number of other brokerages have also recently weighed in on ECO. Clarkson Capital cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. B. Riley Financial upped 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 note on Friday, May 15th. Wall Street Zen upgraded shares of Okeanis Eco Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Pareto Securities downgraded shares of Okeanis Eco Tankers from a “buy” rating to a “hold” rating and set a $57.50 target price on the stock. in a research report on Monday, May 25th. Finally, Weiss Ratings upgraded shares of Okeanis Eco Tankers from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.52.

Okeanis Eco Tankers Stock Performance

ECO opened at $62.80 on Tuesday. The company has a quick ratio of 4.13, a current ratio of 4.43 and a debt-to-equity ratio of 0.76. The firm has a market cap of $2.45 billion, a PE ratio of 5.86 and a beta of -0.15. The business has a fifty day simple moving average of $54.89 and a 200-day simple moving average of $51.09. Okeanis Eco Tankers has a fifty-two week low of $25.00 and a fifty-two week high of $64.26.

Okeanis Eco Tankers (NYSE:ECO) last announced its earnings results on Wednesday, August 5th. The company reported $5.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.61 by $1.30. Okeanis Eco Tankers had a return on equity of 62.06% and a net margin of 56.92%.The company had revenue of $268.14 million for the quarter, compared to analyst estimates of $220.28 million. As a group, equities analysts predict that Okeanis Eco Tankers will post 15.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Encompass Capital Advisors LLC purchased a new position in Okeanis Eco Tankers during the 4th quarter valued at about $27,416,000. Fearnley Asset Management AS acquired a new position in shares of Okeanis Eco Tankers in the 4th quarter valued at about $18,696,000. Marshall Wace LLP purchased a new stake in shares of Okeanis Eco Tankers in the fourth quarter worth approximately $10,911,000. JPMorgan Chase & Co. purchased a new stake in shares of Okeanis Eco Tankers in the fourth quarter worth approximately $5,222,000. Finally, Bank of America Corp DE boosted its holdings in shares of Okeanis Eco Tankers by 96.7% during the first quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock worth $14,079,000 after purchasing an additional 136,782 shares during the period.

Okeanis Eco Tankers Company Profile

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.