BTIG Research Issues Positive Forecast for DHT (NYSE:DHT) Stock Price

Key Points

• BTIG Research raised its target price for DHT from $18 to $23, keeping a "buy" rating and implying roughly a 27.8% upside, while the MarketBeat consensus remains a "Moderate Buy" with a $19.33 target.
• DHT modestly beat quarterly estimates with $0.41 EPS (vs. $0.40) and $117.85M revenue (up 37.8% YoY), reporting a strong 42.35% net margin and 17.7% return on equity.
• Multiple institutional investors have materially increased stakes recently—several by large multiples—and institutions now own about 58.53% of the company.

DHT (NYSE:DHT - Get Free Report) had its target price raised by research analysts at BTIG Research from $18.00 to $23.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the shipping company's stock. BTIG Research's target price indicates a potential upside of 27.81% from the company's current price.

Several other research analysts also recently commented on the stock. Evercore downgraded shares of DHT from an "outperform" rating to an "in-line" rating and set a $19.00 price objective for the company. in a report on Wednesday. Dnb Carnegie downgraded shares of DHT from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 3rd. Wall Street Zen raised shares of DHT from a "hold" rating to a "buy" rating in a report on Saturday, March 21st. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of DHT in a report on Monday. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, DHT has a consensus rating of "Moderate Buy" and a consensus target price of $19.33.

DHT Stock Down 3.6%

DHT opened at $18.00 on Wednesday. The company has a 50 day moving average of $17.79 and a 200 day moving average of $14.63. The company has a market cap of $2.89 billion, a PE ratio of 13.74 and a beta of -0.09. DHT has a 12 month low of $9.91 and a 12 month high of $20.55. The company has a current ratio of 2.80, a quick ratio of 2.47 and a debt-to-equity ratio of 0.34.

DHT (NYSE:DHT - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The shipping company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. The company had revenue of $117.85 million during the quarter, compared to the consensus estimate of $116.96 million. DHT had a net margin of 42.35% and a return on equity of 17.70%. DHT's revenue for the quarter was up 37.8% on a year-over-year basis. During the same period last year, the firm earned $0.34 EPS.

Institutional Trading of DHT

Institutional investors and hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. raised its position in shares of DHT by 360.8% during the 3rd quarter. Victory Capital Management Inc. now owns 2,963,693 shares of the shipping company's stock valued at $35,416,000 after buying an additional 2,320,564 shares in the last quarter. Marex Group plc raised its position in shares of DHT by 5,860.2% during the 4th quarter. Marex Group plc now owns 1,084,752 shares of the shipping company's stock valued at $13,245,000 after buying an additional 1,066,552 shares in the last quarter. Qube Research & Technologies Ltd raised its position in shares of DHT by 706.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,077,704 shares of the shipping company's stock valued at $11,650,000 after buying an additional 943,990 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of DHT during the 4th quarter valued at $8,927,000. Finally, Public Sector Pension Investment Board raised its position in shares of DHT by 447.5% during the 4th quarter. Public Sector Pension Investment Board now owns 744,601 shares of the shipping company's stock valued at $9,092,000 after buying an additional 608,601 shares in the last quarter. 58.53% of the stock is currently owned by hedge funds and other institutional investors.

About DHT

DHT Holdings, Inc NYSE: DHT is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company's core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets.

Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.