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

Key Points

• Zacks Research upgraded Okeanis Eco Tankers from “hold” to “strong buy,” while MarketBeat’s broader analyst consensus remains “Moderate Buy” with a $59.52 target price.
• The company reported a strong quarterly performance, with EPS of $5.91 beating estimates of $4.61 and revenue of $268.14 million surpassing the $220.28 million consensus.
• ECO shares opened at $62.80, near their 52-week high of $64.26; the company has a $2.45 billion market capitalization, a 5.86 P/E ratio, and a 56.92% net margin.

Okeanis Eco Tankers (NYSE:ECO - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.

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

Okeanis Eco Tankers Price Performance

Shares of ECO stock opened at $62.80 on Tuesday. The firm has a fifty day moving average of $54.89 and a two-hundred day moving average of $51.09. The firm has a market cap of $2.45 billion, a P/E ratio of 5.86 and a beta of -0.15. Okeanis Eco Tankers has a 1-year low of $25.00 and a 1-year high of $64.26. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.43 and a quick ratio of 4.13.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. State of Wyoming lifted its holdings in shares of Okeanis Eco Tankers by 2.6% during the first quarter. State of Wyoming now owns 8,123 shares of the company's stock valued at $411,000 after acquiring an additional 202 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Okeanis Eco Tankers by 102.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,052 shares of the company's stock valued at $36,000 after purchasing an additional 532 shares in the last quarter. Fifth Third Bancorp bought a new stake in shares of Okeanis Eco Tankers in the 1st quarter worth about $29,000. Quarry LP bought a new stake in shares of Okeanis Eco Tankers in the 3rd quarter worth about $29,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Okeanis Eco Tankers during the 2nd quarter worth about $25,000.

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.

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