Euronav (EURN) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Euronav (NYSE:EURN) from a hold rating to a buy rating in a report issued on Wednesday morning. Zacks Investment Research currently has $10.00 target price on the shipping company’s stock.

According to Zacks, “Euronav is a tanker company. It owns, operates and manages a fleet of vessels for the transportation and storage of crude oil and petroleum products. The company also offers ship management services. It operates primarily in Europe and Asia. Euronav is headquartered in Antwerp, Belgium. “

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. raised their target price on Euronav from $9.00 to $9.50 and gave the stock a neutral rating in a report on Friday, August 10th. Pareto Securities raised Euronav from a hold rating to a buy rating in a report on Tuesday, August 14th. Wells Fargo & Co decreased their target price on Euronav from $13.00 to $12.00 and set an outperform rating on the stock in a report on Tuesday, August 14th. BTIG Research assumed coverage on Euronav in a report on Thursday, September 27th. They issued a buy rating and a $12.00 target price on the stock. Finally, Jefferies Financial Group assumed coverage on Euronav in a report on Monday, October 1st. They issued a buy rating and a $11.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $10.31.

Shares of EURN stock traded up $0.18 on Wednesday, reaching $9.53. The stock had a trading volume of 1,256,230 shares, compared to its average volume of 847,831. Euronav has a 1 year low of $7.50 and a 1 year high of $10.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.49 and a current ratio of 1.51.

Euronav (NYSE:EURN) last released its quarterly earnings results on Thursday, August 9th. The shipping company reported ($0.28) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.05. The firm had revenue of $78.14 million for the quarter, compared to the consensus estimate of $65.60 million. Euronav had a negative return on equity of 6.82% and a negative net margin of 14.17%. On average, sell-side analysts expect that Euronav will post -0.9 EPS for the current year.

A number of large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its holdings in Euronav by 156.6% during the second quarter. Tower Research Capital LLC TRC now owns 18,311 shares of the shipping company’s stock valued at $169,000 after acquiring an additional 11,176 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Euronav during the second quarter valued at about $114,000. Dynamic Technology Lab Private Ltd bought a new stake in Euronav during the first quarter valued at about $110,000. Aperio Group LLC bought a new stake in Euronav during the second quarter valued at about $124,000. Finally, Northern Trust Corp raised its holdings in Euronav by 15.0% during the second quarter. Northern Trust Corp now owns 103,951 shares of the shipping company’s stock valued at $956,000 after acquiring an additional 13,546 shares during the period. 44.97% of the stock is currently owned by institutional investors and hedge funds.

Euronav Company Profile

Euronav NV, together with its subsidiaries, engages in transportation and storage of crude oil and petroleum products worldwide. The company operates through two segments, Tankers; and Floating Production, Storage, and Offloading Operations. As of March 19, 2018, it owned and operated a fleet of 53 vessels, including 28 very large crude carriers, 1 V-Plus vessel, 22 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 4 Suezmax vessels under construction.

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