Wall Street Zen Upgrades SFL (NYSE:SFL) to Buy

Key Points

• Wall Street Zen upgraded SFL from “hold” to “buy.” MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $14.00.
• SFL shares opened at $12.44, near their 12-month high of $12.94, with a market capitalization of approximately $1.80 billion.
• Institutional investors own 28.59% of SFL, with several hedge funds recently increasing their positions or initiating new stakes.

SFL (NYSE:SFL - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

SFL has been the topic of a number of other reports. Weiss Ratings restated a "hold (c)" rating on shares of SFL in a research report on Wednesday, August 12th. BTIG Research lifted their price objective on SFL from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $14.00.

SFL Price Performance

NYSE:SFL opened at $12.44 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 1.84. The firm has a market cap of $1.80 billion, a PE ratio of 51.84 and a beta of 0.43. SFL has a 12 month low of $6.73 and a 12 month high of $12.94. The company's 50-day moving average price is $11.49 and its two-hundred day moving average price is $11.13.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its position in shares of SFL by 789.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the shipping company's stock worth $28,000 after buying an additional 2,944 shares during the period. Triumph Capital Management acquired a new position in SFL in the third quarter valued at approximately $32,000. Kemnay Advisory Services Inc. acquired a new position in SFL in the fourth quarter valued at approximately $47,000. Quadrant Capital Group LLC lifted its holdings in SFL by 122.3% in the fourth quarter. Quadrant Capital Group LLC now owns 6,139 shares of the shipping company's stock valued at $48,000 after buying an additional 3,377 shares during the period. Finally, NFSG Corp boosted its stake in SFL by 50.0% in the first quarter. NFSG Corp now owns 4,500 shares of the shipping company's stock valued at $49,000 after acquiring an additional 1,500 shares during the last quarter. Institutional investors own 28.59% of the company's stock.

SFL Company Profile

Ship Finance International Limited NYSE: SFL is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.

In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.

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