Jefferies Financial Group Forecasts Strong Price Appreciation for Navios Maritime Partners (NYSE:NMM) Stock

Key Points

• Jefferies raised Navios Maritime Partners’ price target from $85 to $100 and maintained a “buy” rating, implying 12.87% upside from the prior close.
• Navios reported stronger-than-expected quarterly results, with EPS of $4.65 versus the $4.35 consensus and revenue of $410.17 million, up 25.2% year over year.
• Analyst sentiment is mixed but leans positive: Weiss Ratings downgraded the stock to “hold,” while MarketBeat lists an overall “Moderate Buy” rating; insiders have also purchased shares in the past 90 days.

Navios Maritime Partners (NYSE:NMM - Get Free Report) had its target price boosted by Jefferies Financial Group from $85.00 to $100.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the shipping company's stock. Jefferies Financial Group's target price would indicate a potential upside of 12.87% from the company's previous close.

Separately, Weiss Ratings cut shares of Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $100.00.

Navios Maritime Partners Stock Performance

NYSE:NMM opened at $88.60 on Monday. The stock's 50-day simple moving average is $76.14 and its 200 day simple moving average is $71.36. The firm has a market capitalization of $2.54 billion, a PE ratio of 5.79 and a beta of 1.02. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57. Navios Maritime Partners has a twelve month low of $43.02 and a twelve month high of $89.81.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last issued its earnings results on Thursday, August 20th. The shipping company reported $4.65 EPS for the quarter, topping the consensus estimate of $4.35 by $0.30. The firm had revenue of $410.17 million during the quarter, compared to the consensus estimate of $360.83 million. Navios Maritime Partners had a return on equity of 12.48% and a net margin of 30.27%.The business's quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.15 earnings per share.

Insider Activity

In other Navios Maritime Partners news, insider Angeliki Frangou acquired 1,208 shares of Navios Maritime Partners stock in a transaction that occurred on Monday, June 29th. The shares were bought at an average price of $68.88 per share, with a total value of $83,207.04. Following the completion of the purchase, the insider directly owned 4,757,419 shares in the company, valued at $327,691,020.72. This trade represents a 0.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have acquired a total of 57,950 shares of company stock worth $4,297,068 over the last ninety days.

Institutional Trading of Navios Maritime Partners

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in shares of Navios Maritime Partners by 50.9% in the 4th quarter. Royal Bank of Canada now owns 599 shares of the shipping company's stock worth $32,000 after purchasing an additional 202 shares during the period. Valley Wealth Managers Inc. bought a new stake in Navios Maritime Partners during the first quarter valued at $63,000. State of Wyoming bought a new stake in Navios Maritime Partners during the fourth quarter valued at $137,000. Corient Private Wealth LLC acquired a new stake in Navios Maritime Partners during the 4th quarter worth about $207,000. Finally, Mariner LLC acquired a new stake in Navios Maritime Partners during the 4th quarter worth about $208,000. 62.74% of the stock is currently owned by institutional investors.

About Navios Maritime Partners

Navios Maritime Partners L.P. NYSE: NMM is a dry bulk shipping company that owns and operates a fleet of Capesize, Panamax and Supramax vessels. The partnership charters its vessels under medium- and long-term contracts to a diverse group of charterers, providing seaborne transportation for major bulk cargoes such as iron ore, coal, grain and fertilizers. Through this asset-light model, Navios Maritime Partners seeks to generate stable cash flows while retaining flexibility to capitalize on market opportunities.

Formed in November 2007 and sponsored by Navios Maritime Holdings Inc, the partnership leverages the operating platform and commercial management capabilities of the Navios group.

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