DHT (NYSE:DHT) Downgraded by Evercore to "In-Line"

Key Points

• Evercore downgraded DHT from "outperform" to "in-line" and set a $19.00 price target, implying about a 5.6% upside from the prior close.
• Analyst views are mixed—three Buy and three Hold—giving DHT a consensus rating of "Moderate Buy" with a consensus target of $19.33.
• DHT recently beat quarterly EPS ($0.41 vs. $0.40) with revenue up 37.8% year-over-year and strong profitability (net margin 42.35%, ROE 17.7%); the stock trades around $18 with a $2.89B market cap and a P/E of 13.74.

DHT (NYSE:DHT - Get Free Report) was downgraded by stock analysts at Evercore from an "outperform" rating to an "in-line" rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. They currently have a $19.00 price target on the shipping company's stock. Evercore's target price points to a potential upside of 5.58% from the company's previous close.

Several other analysts have also recently commented on the stock. Wall Street Zen upgraded shares of DHT from a "hold" rating to a "buy" rating in a research note on Saturday, March 21st. Weiss Ratings restated a "buy (b)" rating on shares of DHT in a research note on Monday. BTIG Research lifted their price objective on shares of DHT from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Wednesday, February 4th. Finally, Dnb Carnegie cut shares of DHT from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 3rd. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, DHT currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.33.

DHT Stock Performance

Shares of NYSE DHT opened at $18.00 on Wednesday. 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 has a 12 month low of $9.91 and a 12 month high of $20.55. The company has a 50 day simple moving average of $17.79 and a two-hundred day simple moving average of $14.63. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 13.74 and a beta of -0.09.

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

Hedge Funds Weigh In On DHT

Several institutional investors have recently made changes to their positions in DHT. AQR Capital Management LLC increased its holdings in shares of DHT by 178.9% during the 1st quarter. AQR Capital Management LLC now owns 70,582 shares of the shipping company's stock valued at $741,000 after purchasing an additional 45,275 shares in the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of DHT during the 2nd quarter valued at approximately $171,000. Creative Planning increased its holdings in shares of DHT by 34.1% during the 2nd quarter. Creative Planning now owns 15,189 shares of the shipping company's stock valued at $164,000 after purchasing an additional 3,859 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of DHT by 11.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 400,068 shares of the shipping company's stock valued at $4,325,000 after purchasing an additional 40,574 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of DHT during the 2nd quarter valued at approximately $162,000. 58.53% of the stock is 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.