Zacks Investment Research Upgrades Seacor (NYSE:CKH) to “Buy”

Seacor (NYSE:CKH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports. The brokerage presently has a $51.00 price objective on the oil and gas company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.74% from the company’s current price.

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. “

Separately, ValuEngine raised shares of Seacor from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd.

Seacor stock traded up $0.30 during midday trading on Thursday, reaching $45.64. 80,700 shares of the stock were exchanged, compared to its average volume of 74,080. The company’s fifty day moving average is $47.43 and its 200-day moving average is $45.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.81 and a current ratio of 1.84. The firm has a market cap of $948.72 million, a PE ratio of 25.22 and a beta of 0.81. Seacor has a 52 week low of $34.63 and a 52 week high of $51.42.

Seacor (NYSE:CKH) last posted its earnings results on Wednesday, July 24th. The oil and gas company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.32. The business had revenue of $197.02 million for the quarter, compared to analyst estimates of $214.72 million. Seacor had a net margin of 4.12% and a return on equity of 4.71%. On average, sell-side analysts anticipate that Seacor will post 2.19 earnings per share for the current fiscal year.

In other news, COO Eric Fabrikant sold 6,984 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $50.28, for a total value of $351,155.52. Following the transaction, the chief operating officer now owns 77,136 shares of the company’s stock, valued at approximately $3,878,398.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles Fabrikant sold 24,100 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $47.34, for a total transaction of $1,140,894.00. Following the completion of the transaction, the chief executive officer now directly owns 521,809 shares in the company, valued at approximately $24,702,438.06. The disclosure for this sale can be found here. Insiders sold a total of 63,085 shares of company stock worth $3,016,797 in the last three months. Insiders own 10.27% of the company’s stock.

Several large investors have recently modified their holdings of the company. Arizona State Retirement System boosted its stake in shares of Seacor by 1.6% in the 2nd quarter. Arizona State Retirement System now owns 27,019 shares of the oil and gas company’s stock valued at $1,284,000 after purchasing an additional 417 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of Seacor by 12.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,522 shares of the oil and gas company’s stock valued at $262,000 after purchasing an additional 594 shares in the last quarter. Swiss National Bank boosted its stake in shares of Seacor by 2.9% in the 2nd quarter. Swiss National Bank now owns 32,400 shares of the oil and gas company’s stock valued at $1,539,000 after purchasing an additional 900 shares in the last quarter. Hancock Whitney Corp boosted its stake in shares of Seacor by 4.4% in the 1st quarter. Hancock Whitney Corp now owns 27,948 shares of the oil and gas company’s stock valued at $1,182,000 after purchasing an additional 1,172 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Seacor by 325.9% in the 2nd quarter. Bank of Montreal Can now owns 1,925 shares of the oil and gas company’s stock valued at $91,000 after purchasing an additional 1,473 shares in the last quarter. 84.57% of the stock is currently owned by hedge funds and other institutional investors.

Seacor Company Profile

SEACOR Holdings Inc engages in transportation and logistics, risk management consultancy, and other businesses in the United States and internationally. The company operates through Ocean Transportation & Logistics Services, Inland Transportation & Logistics Services, Witt O'Brien's, and Other segments.

Further Reading: Diversification

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