Zacks Research Downgrades Tidewater (NYSE:TDW) to Hold

Tidewater (NYSE:TDW) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other brokerages have also recently weighed in on TDW. Barclays lifted their price target on shares of Tidewater from $80.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Dawson James reiterated an “outperform” rating on shares of Tidewater in a research report on Tuesday, March 3rd. Finally, Raymond James Financial set a $117.00 price target on shares of Tidewater in a research report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $89.33.

Tidewater Price Performance

Shares of TDW stock opened at $84.51 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.33 and a quick ratio of 3.22. The firm’s 50-day moving average is $82.41 and its two-hundred day moving average is $68.15. Tidewater has a 12 month low of $38.24 and a 12 month high of $93.13. The company has a market capitalization of $4.20 billion, a PE ratio of 14.16 and a beta of 0.57.

Tidewater (NYSE:TDW) last issued its earnings results on Monday, May 4th. The oil and gas company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.63). Tidewater had a return on equity of 8.79% and a net margin of 22.16%.The firm had revenue of $326.22 million for the quarter, compared to analysts’ expectations of $322.83 million. During the same period last year, the firm earned $0.83 earnings per share. Tidewater’s revenue for the quarter was down 2.2% on a year-over-year basis. Analysts predict that Tidewater will post 3.52 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Daniel A. Hudson sold 15,000 shares of Tidewater stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $77.50, for a total value of $1,162,500.00. Following the completion of the transaction, the executive vice president owned 50,986 shares in the company, valued at approximately $3,951,415. The trade was a 22.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Samuel R. Rubio sold 22,461 shares of Tidewater stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $80.05, for a total transaction of $1,798,003.05. Following the completion of the transaction, the executive vice president owned 60,066 shares of the company’s stock, valued at $4,808,283.30. This trade represents a 27.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 42,656 shares of company stock valued at $3,379,012 in the last 90 days. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TDW. Royal Bank of Canada grew its holdings in shares of Tidewater by 22.6% in the first quarter. Royal Bank of Canada now owns 23,169 shares of the oil and gas company’s stock valued at $980,000 after purchasing an additional 4,278 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Tidewater by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,028 shares of the oil and gas company’s stock worth $1,227,000 after acquiring an additional 1,271 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Tidewater by 4.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,833 shares of the oil and gas company’s stock worth $1,895,000 after acquiring an additional 1,931 shares during the last quarter. Cetera Investment Advisers lifted its stake in Tidewater by 4.1% in the second quarter. Cetera Investment Advisers now owns 8,010 shares of the oil and gas company’s stock worth $370,000 after acquiring an additional 314 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Tidewater by 12.1% in the second quarter. Invesco Ltd. now owns 227,443 shares of the oil and gas company’s stock worth $10,492,000 after acquiring an additional 24,609 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

About Tidewater

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company’s fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.