Okeanis Eco Tankers (NYSE:ECO) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Okeanis Eco Tankers to “strong-buy” from “buy,” although the broader analyst consensus remains “Hold,” with an average price target of $59.52.
• Okeanis reported quarterly EPS of $5.91, beating the $4.61 consensus estimate, while revenue of $268.14 million exceeded expectations of $220.28 million. Net margin was 56.92% and return on equity reached 62.06%.
• The stock opened at $61.87 and is trading near its 52-week high of $64.26; institutional investors have also recently established or increased positions in the company.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Saturday.

Several other research firms have also weighed in on ECO. Pareto Securities lowered 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 report on Monday, May 25th. Clarkson Capital cut Okeanis Eco Tankers from a "strong-buy" rating to a "hold" rating in a report on Friday, May 15th. Zacks Research downgraded Okeanis Eco Tankers from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. B. Riley Financial boosted their price target on Okeanis Eco Tankers from $55.00 to $75.00 and gave the company a "buy" rating in a report on Friday, May 15th. Finally, Weiss Ratings raised Okeanis Eco Tankers from a "hold (c+)" rating to a "buy (b)" rating in a research report on Thursday. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $59.52.

Okeanis Eco Tankers Stock Performance

Shares of NYSE:ECO opened at $61.87 on Friday. Okeanis Eco Tankers has a 1-year low of $23.82 and a 1-year high of $64.26. The business has a 50-day moving average price of $54.10 and a two-hundred day moving average price of $50.52. The company has a current ratio of 4.43, a quick ratio of 1.56 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $2.42 billion, a P/E ratio of 5.77 and a beta of -0.15.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $5.91 earnings per share for the quarter, topping analysts' consensus estimates of $4.61 by $1.30. The business had revenue of $268.14 million during the quarter, compared to the consensus estimate of $220.28 million. Okeanis Eco Tankers had a net margin of 56.92% and a return on equity of 62.06%. Equities analysts predict that Okeanis Eco Tankers will post 15.33 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Militia Capital Management LLC acquired a new position in shares of Okeanis Eco Tankers during the 1st quarter worth about $3,541,000. Navellier & Associates Inc. bought a new position in shares of Okeanis Eco Tankers in the 4th quarter valued at about $631,000. Walleye Capital LLC increased its position in shares of Okeanis Eco Tankers by 71.9% in the first quarter. Walleye Capital LLC now owns 177,417 shares of the company's stock valued at $8,976,000 after acquiring an additional 74,231 shares during the last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of Okeanis Eco Tankers in the fourth quarter valued at about $27,416,000. Finally, GeoSphere Capital Management LLC bought a new stake in Okeanis Eco Tankers during the fourth quarter worth about $2,453,000.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source