Zacks Research Upgrades Okeanis Eco Tankers (NYSE:ECO) to “Strong-Buy”

Okeanis Eco Tankers (NYSE:ECO) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Weiss Ratings lowered Okeanis Eco Tankers from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, March 25th. B. Riley Financial boosted their price objective on Okeanis Eco Tankers from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Wall Street Zen lowered Okeanis Eco Tankers from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Clarkson Capital cut Okeanis Eco Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Okeanis Eco Tankers has a consensus rating of “Moderate Buy” and an average price target of $50.02.

Okeanis Eco Tankers Price Performance

Okeanis Eco Tankers stock opened at $56.71 on Tuesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.56 and a current ratio of 1.70. The firm has a market cap of $2.21 billion, a P/E ratio of 10.02 and a beta of 0.09. The business’s fifty day moving average is $51.30 and its two-hundred day moving average is $43.39. Okeanis Eco Tankers has a 52 week low of $21.27 and a 52 week high of $58.45.

Okeanis Eco Tankers (NYSE:ECO) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.59. The company had revenue of $170.17 million for the quarter, compared to analyst estimates of $134.02 million. Okeanis Eco Tankers had a return on equity of 37.13% and a net margin of 41.26%. Equities research analysts forecast that Okeanis Eco Tankers will post 9.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Okeanis Eco Tankers

Several hedge funds have recently added to or reduced their stakes in the company. Encompass Capital Advisors LLC bought a new position in Okeanis Eco Tankers in the fourth quarter valued at about $27,416,000. FIL Ltd boosted its holdings in Okeanis Eco Tankers by 17.2% in the fourth quarter. FIL Ltd now owns 574,182 shares of the company’s stock valued at $19,339,000 after acquiring an additional 84,130 shares during the last quarter. Fearnley Asset Management AS bought a new position in Okeanis Eco Tankers in the fourth quarter valued at about $18,696,000. Marshall Wace LLP bought a new position in Okeanis Eco Tankers in the fourth quarter valued at about $10,911,000. Finally, Bank of America Corp DE lifted its stake in Okeanis Eco Tankers by 96.7% in the first quarter. Bank of America Corp DE now owns 278,305 shares of the company’s stock valued at $14,079,000 after buying an additional 136,782 shares during the period.

About Okeanis Eco Tankers

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.