Seacor (CKH) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Seacor (NYSE:CKH) from a hold rating to a buy rating in a report released on Wednesday morning. They currently have $53.00 target price on the oil and gas company’s stock.
According to Zacks, “SEACOR Holdings Inc. is a diversified holding company principally focused on domestic and international transportation, logistics, and risk management consultancy. SEACOR provides its customers with highly responsive services focused on innovative technology, modern efficient equipment, and dedicated, highly trained professionals. As the parent company of a global, diversified family of companies, SEACOR has the ability to utilize its subsidiaries’ assets to provide customers with the highest level of service within the industries in which it operates. SEACOR also maintains strategic joint venture arrangements in various geographic locations around the world, enhancing its existing business lines while satisfying specific customer requirements with resources such as logistical support, assets, and personnel. SEACOR engages in the operation of a fleet of offshore vessels in the U.S. Gulf of Mexico, the North Sea, West Africa, Asia, Latin America and other regions. “
Several other equities analysts also recently issued reports on the company. TheStreet upgraded Seacor from a d+ rating to a c- rating in a research report on Tuesday, November 7th. Stifel Nicolaus downgraded Seacor from a buy rating to a hold rating and lifted their price objective for the company from $40.00 to $53.00 in a research report on Monday, November 6th. Finally, Credit Suisse Group lifted their price objective on Seacor from $36.00 to $43.00 and gave the company a neutral rating in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Seacor presently has a consensus rating of Hold and a consensus target price of $49.67.
Shares of Seacor (NYSE CKH) traded up $0.44 on Wednesday, reaching $48.81. The company’s stock had a trading volume of 127,500 shares, compared to its average volume of 109,367. The company has a current ratio of 2.09, a quick ratio of 2.07 and a debt-to-equity ratio of 0.89. Seacor has a 52-week low of $30.44 and a 52-week high of $51.59. The company has a market cap of $863.86, a P/E ratio of -7.89 and a beta of 1.08.
In other news, COO Eric Fabrikant sold 4,988 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $50.74, for a total transaction of $253,091.12. Following the completion of the sale, the chief operating officer now owns 48,747 shares in the company, valued at $2,473,422.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Charles Fabrikant sold 15,229 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $50.87, for a total value of $774,699.23. Following the sale, the chief executive officer now owns 488,834 shares of the company’s stock, valued at approximately $24,866,985.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 118,487 shares of company stock valued at $5,950,235. Corporate insiders own 10.47% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Seacor during the third quarter worth $111,000. Municipal Employees Retirement System of Michigan raised its position in shares of Seacor by 3.3% during the second quarter. Municipal Employees Retirement System of Michigan now owns 3,800 shares of the oil and gas company’s stock worth $130,000 after acquiring an additional 120 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Seacor by 45.3% during the second quarter. BNP Paribas Arbitrage SA now owns 5,114 shares of the oil and gas company’s stock worth $175,000 after acquiring an additional 1,594 shares during the last quarter. Pacad Investment Ltd. acquired a new stake in shares of Seacor during the second quarter worth $185,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Seacor during the third quarter worth $241,000. Institutional investors own 92.01% of the company’s stock.
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SEACOR Holdings Inc, is engaged in the business of transportation and logistics, alcohol manufacturing, merchandising, and risk management consultancy. The Company’s segments include, Inland River Services, Shipping Services and Illinois Corn Processing. Inland River Services segment operates river transportation equipment used for moving agricultural and industrial commodities and petroleum and chemical products.
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